Jamie Dimon: Move Trillions Digitally
on Friday, October 13, 2017Jamie Dimon Money Quote saying He understands that banks deal in a digital form of currency every day. Jamie Dimon said:
“I was reminded that we move trillions of dollars a day … digitally. It’s not cash” — Jamie Dimon
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In this quote, Jamie Dimon is emphasizing how the vast majority of money exchanged in modern financial systems exists in digital form rather than physical cash. By stating that his bank moves “trillions of dollars a day…digitally” and clarifying “It’s not cash”, Dimon is pointing out how financial transactions are now mostly data entries, electronic fund transfers and accounting between ledgers, rather than physical handling of paper bills and coins.
The interpretation is that Dimon is drawing attention to the increasingly abstract, digital nature of money, where wealth exists as numbers rather than tangible currency notes. His message conveys how money has evolved into information that flows electronically in huge volumes daily through bank servers and networks globally, making the financial system reliant on technology infrastructure and data security.
Overall, Dimon appears to be acknowledging the transformation of money into digital code and bytes rather than its historic paper form in the context of the scale and speed of modern electronic banking and digital payment systems.