Tom Lee: Why JP Morgan & Other Banks are Going Onchain

If I took JP Morgan for instance, they are operating supported by 313,000 employees, but a JP Morgan built on the blockchain might need 20,000 employees and operate with far greater clarity and vision and efficiency. So JP Morgan may end up being especially using AI more of a tech company. They're replacing humans with tech spend and using the blockchain for finality and security.and the multiples of banks should change, you know, going from trading at price to tangible book to actually having a PE multiple ...