JPM's Chang on the Evolution of Blockchain Technology

The video discusses the progress and challenges in trade finance, focusing on the need for centralization and the hurdles posed by regulatory and privacy issues. It highlights the potential of blockchain technology and the importance of first mover advantage. The video also explores industry-specific challenges, particularly in the supply chain, and the barriers faced by new platforms in achieving cost savings and efficiency.

What is a significant hurdle in adopting blockchain for trade finance?

• Need for a centralized system

• Lack of technology

• High transaction costs

• Limited internet access

What are the main issues being worked through in blockchain technology?

• Limited scalability

• High energy consumption

• Lack of skilled professionals

• Data privacy and regulatory issues

What is the current focus in the use of blockchain in trade finance?

• Wholesale transformation

• Marginal improvements to the payment system

• Complete decentralization

• Eliminating all paperwork

Why is it difficult to automate inputs in the supply chain industry?

• Complexity of inputs

• Lack of technology

• Limited data availability

• High costs

What is a barrier to entry for new blockchain platforms in trade finance?

• High development costs

• Privacy and security issues

• Lack of user interest

• Limited market size