Fortune argues Ethereum outperforms permissioned bank blockchains for financial innovation

Fortune editor Jeff John Roberts contends that permissioned networks used by banks lack the decentralization of public chains, predicting Ethereum remains the superior layer for future financial infrastructure.

Woofun AI reports that Fortune finance editor Jeff John Roberts highlights recent blockchain initiatives by Wall Street institutions, including DTCC’s collaboration with JPMorgan and Morgan Stanley on stock tokenization pilots, and the London Stock Exchange’s plan for 24/7 blockchain-based trading. Roberts distinguishes these permissioned networks, such as Hyperledger Besu and Canton Network, from decentralized public chains like Bitcoin and Ethereum. Citing Columbia Business School adjunct professor Omid Malekan, the article asserts that permissioned chains will likely fail due to inherent corporate bias and limited adoption potential. Drawing parallels to the 2016 "blockchain rather than Bitcoin" trend, which yielded minimal returns for banks while decentralized networks thrived, the piece concludes that Ethereum offers a more practical software layer for subsequent financial innovation.