Web3 Innovators #56 - How J.P. Morgan is generating revenue and saving money with blockchain.
In the seventh episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Tyrone Lobban, Head of Blockchain Launch and Onyx Digital Assets at J.P. Morgan where he’s responsible for identifying and creating innovative blockchain- based products and solutions.
Prior to this he was Senior Blockchain Product Manager in J.P. Morgan's Blockchain Center of Excellence and was also the Product Lead for Quorum.
Connect with Tyrone on Twitter
Episode highlights:
- How Tyrone’s career evolved from Product Management in Credit Markets to becoming a Software Developer, before reading the Ethereum White Paper which changed his trajectory into Blockchain
- The early days of the Blockchain program at J.P. Morgan and how this subsequently became Onyx
- Why J.P. Morgan launched Quorum and how this has developed
- The challenges and opportunities J.P. Morgan have faced due to the high level of interest in Blockchain projects
- The complexities when setting up and implementing a use case, even if the end state is clear
- Tyrone’s advice for anyone looking to use technology to solve a problem within their industry
- The work that is happening moving money on to Blockchain and how Tyrone sees this progressing
Key Takeaways:
- It was an obvious thing for me to want to get into this technology. I could see, especially with my experience through the financial crisis, how much a technology like this can bring everyone on the same page - having a shared ledger of information, streamlining processes and information flow. How that could really make a difference. - Tyrone
- It's always been about the technology. Web3 wasn't really a word back then. I'm just extremely passionate about how we can use the tech to make improvements, not just within finance, but across industries generally. - Tyrone
- It’s evolved over the years, but I would say internally we've been quite consistent around how we want to use the technology. What we have learned is exactly where it makes sense and where it doesn't necessarily make sense. And that has helped us to be more precise around the types of use cases that we focus on. - Tyrone
- For us it's really about how we create value not only for ourselves, but for our clients and how we really make it a step change improvement. - Tyrone
- We're looking to disrupt an industry or disrupt a business or create something entirely new. So it's very rare that you don't have this challenge of okay, what is the interim step going to be? - Tyrone
- We launched a tokenization platform called Onyx Di
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