Last April in his annual letter to shareholders, CEO of JPMorgan Jamie Dimon warned that “Silicon Valley is coming”.
Well, Mr. Dimon, you’re right. But it’s not just Silicon Valley. Technology is being developed in places like Boston, Israel, and Singapore that are threatening Wall Street’s grip on global finance. Leading that charge is Bitcoin and Blockchain. Big banks like JP Morgan have had a “monopoly on money” for far too long, and for the first time ever, that’s changing.
The big banks are woefully behind the innovation curve and are only just now beginning to realize it. Many have adopted an antagonist response to the disruptors in their industry, but it’s already too late. Because what they don’t realize is they can’t stop innovation. You just can’t stop hundreds of millions of consumers who are fed up with an archaic monetary system that is controlled by a handful of wealthy Wall Streeters.
As Mr. Dimon stated during an event, Bitcoin developers are
“coming to eat our lunch. And that’s fine. That’s called competition, and we’ll be competing.”
Be ready to compete against hundreds of thousands of hungry young entrepreneurs ready to solve the problems you’ve left untouched for decades. As a kind reminder, we’ve taken out billboards throughout Miami with a message for bankers like Jamie Dimon: Bitcoin is coming to eat your lunch.
Here are some billboards you may see throughout the city:
To the moon!