Umar Farooq, head of JPMorgan's blockchain arm Onyx, said in a recent interview with the Financial Times that cryptocurrencies were still in their nascency, drawing parallels between the growth trajectories of crypto and audio streaming.
Farooq has been the division head since Onyx launched in October 2020. Crypto is not going away, he said, but he has a hard time predicting what it will look like in the “Spotify” era: “We are sitting in the Napster age. We just don't know what Spotify looks like. So, I think [crypto] is here to stay. I just don't know in what shape or form."
Source: U Today
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