Thought I would share what Goldman Sachs CFO, R. Martin Chavez had to say about cryptos and blockchain recently.
"Blockchain will likely be added to the important drivers of innovation in a few years... and will be more important than bitcoin or any of the other cryptocurrencies, or baskets of cryptocurrencies, that have been introduced on exchanges."
“And so on the back of our clients asking us, will you offer clearing in these contracts, well, we’re in that business of client facilitation,” he said. “And so we want to respond to those client requests, and we have. And we’re in also the business of being careful with our shareholders’ capital, and so we’re doing that with extreme prudence and caution as we learn.”
Goldman Sachs has received more and more pressure to add crypto investments as part of their offerings. When these types of requests start to make their way into the largest trading and financial institutions of the world, you know that things are on the right track for the industry. Considering how well crypto and blockchain have done up to this point without the influx of mainstream investor capital, I'd say things are definitely pointing in the right direction.
I find his views interesting in regards to cryptocurrency vs blockchain technology. He truly believes that the underlying tech of blockchain is where the real potential is. When talking specifically about BC tech he says "the distributed general ledger that is of great and very broad application potential." I tend to agree with him on that. I think the blockchain is where companies will put their focus. Whether or not any actual "currencies" will come out of this movement is still up in the air, but betting on the underlying tech is probably the safest bet.
Source: martketwatch