I’d prefer you posted something constructive rather than just saying “doesn’t need blockchain”. Of course it doesn’t. Storing data doesn’t require a relational database, or a key value store either. All have pros and cons.
Saying “doesn’t require blockchain” is obvious and adds no value. It’s like coming into a workshop explain what a saw is and saying “other cutting tools also exist”.
You seem to be making the leap that because I’m explaining what something is without saying whether or not I think it’s the right move that I think it is.
I don’t know whether or not it was cheaper and more effective for JPMC to fork ethereum or to build their own accounting system from scratch and I doubt you have the correct information to make that assumption either. Maybe JPMC doesn’t have a team capable of writing accounting software (seems unlikely). What’s more likely is they are looking for headlines because they know blockchain is hyped technology. It would have probably not made the news if they announced they were adding another settlement system beyond Zelle, ACH, and wire. So, they probably chose this because they think it will reduce costs and move their stock price while building a bespoke software accounting system would have been more costly and wouldn’t have provided as much hype.
Businesses don’t make decisions about technology completely based on its technical merits.
Many times they choose technology because someone recommended to them, or it’s cheap, or they can’t build it themselves, or that’s not their primary business, etc.