Watch out Wall Street, Blockchain is Coming: Fmr. JPMorgan Exec. Blythe Masters
Blockchain innovator and former JPMorgan head of commodities Blythe Masters spoke at the London Metal Exchange annual dinner during the LME Week to say that blockchain is coming to commodity markets to introduce heightened confidentiality, reduce paper waste, and improve provenance and productivity.
Masters who became managing director at JPMorgan at the age of 28 before becoming the head of global commodities is not without her share of controversy in the financial space. Shes widely credited with creating a credit derivative vehicle known as the credit default swap, which has been identified as one of several investment vehicles responsible for the global economic crash of 2008. Her creation has been described in the media as a financial weapon of mass destruction.
However, theres no denying that Masters is an expert in the field of finance and commodities, and with her new role as CEO of Digital Asset Holdings, which develops blockchain solutions for financial services, there are few people better qualified to speak on the application and adoption of blockchain in the commodities industry.
Supply chains are notoriously complex and inefficient, Masters said during her London speech. This is especially true in the metals and mining industry where many operational and commercial practices remain inefficient and antiquated, leading to critical data omissions, security vulnerabilities, expenses, corruption, and unethical provenance.
https://www.ccn.com/watch-out-wall-street-blockchain-is-coming-fmr-jpmorgan-exec-blythe-masters/Blockchain has entered our lives in many areas. This is a reality, in many countries it is used at the household level. (land cadastre, registration of cars)