By Hassan Mehmood (Saudi Arabia)
JP Morgan Chase, which is a financial institution, had a very reserved stance when it came to cryptocurrencies, especially Bitcoin, and now is hiring Ethereum and Blockchain developers to kick off into the races at an elevated pace. They used to call cryptocurrencies and the concept of Blockchain a fraud, but now they have come around and only more bent on the idea than they were before as now they are looking forward to hiring professional developers to work out the specific details for them to continue their journey with cryptocurrencies.
The job posting appeared on Glassdoor, which is an American based job recruitment site, and the job details read that they need someone who is able to develop and write smart contracts, implement business protocols and applications and at the very least be able to verify the cryptographic protocols and such on the Blockchain. Going away from such a hard stance that they had back in the year 2017 regarding cryptocurrencies, the current development could prove a game-changer for the bank as crypto trading could be initiated and serve the clients interested in making transactions using Blockchain systems.
Also read:JP Morgan Willing to Adopt Cryptocurrency
This could be a big thing for JP Morgan Chase as they are finally coming around either the benefits and improvements decentralized finance have over the fiat money or due to the pressing desire shown by their clients to make it happen. Whatever it is, they are investing a large chunk of their time and focus into the matter now, and it seems with the job posting and such, JP Morgan is finally ready to step its way into the crypto space. In another statement, the bank has said that it will be able to meet the necessary crypto-related installments once the desired infrastructure is developed and implemented over to its place.
According to an estimated survey, about 78% of Bitcoin by volume is out of the picture and is being held, leaving only about 4 million Bitcoin for trading. JP Morgan is willing to bring stability and provide equal trading and transacting options to all of its clientele once the proposed technology gets ready.
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