JPMorgan CEO Jamie Dimon mentioned in his annual shareholder letter that new blockchain-based competitors are emerging, including stablecoins, smart contracts, and various tokenized products. These technologies could fundamentally transform traditional banking core business models like payments, trading, and asset management. Dimon pointed out that faster on-chain settlement and direct asset transfer capabilities might compress banks' fee income from payments and trading, while stablecoins could also pose a substitution pressure on traditional bank deposits. He emphasized that JPMorgan needs to accelerate its own blockchain strategy, including the Kinexys platform and JPM Coin, to address the structural changes brought by tokenized financial infrastructure. (CoinDesk) https://(wublock123.com)/news/jpmorgan-ceo-jamie-dimon-new-blockchain-competitors-59158