Pang Huadong is the former vice president of North American investment banking at JPMorgan Chase, and is currently serving as an academic adviser of the Asian Blockchain Institute. His time at JPMorgan included the worst of the most recent crisis in 2008.Speaking to the China Econmic Times , he says:To understand why blockchain could have prevented the crisis, you must first understand what caused the crisis - a system of repackaging and reselling subprime loans often so many times firms could no longer keep track of which loans they were still responsible for.Blockchain's public ledger feature also acts as a 'chain of custody' record - the ability for a bank to 'lose track' of assets immediately disappears.Some believe this is why it's so rare to hear someone from the world of banking praising blockchain - once implemented, their ability to cheat the system or simply 'play dumb' when things go wrong becomes greatly diminished.