JP MORGAN CHASE CEO Jamie Dimon described the situation in the simplest terms. “Silicon Valley is coming,” he said.In his annual letter to shareholders this past spring, Dimon warned the Wall Street old guard that their way of doing things was under siege from “hundreds of startups with a lot of brains and money.” Traditional banking was facing a world of more “seamless and competitive” alternatives. JP Morgan, he said, would work to modernize its own services and, if need be, partner with those same Silicon Valley startups striving to undermine the way the banking industry has long done business......
full artical(http://www.wired.com/2015/09/wall-street-officially-opens-arms-bitcoin-invaders/
