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Crypto & blockchain technology give latitude to evolve: Goldman Sachs

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David Solomon from Goldman Sachs shared his thought on the crypto and blockchain industry and explained how a deep understanding can change the whole situation in this innovative industry.

Goldman Sachs Group Inc is an American multinational investment bank and financial services company. This company is headquartered in New York City. This company has hand in several financial services. In recent months, Goldman Sachs rapidly showed significant inclination toward the crypto industry. 

Last week, David Solomon, Chairman, CEO, and a member of the Board of Directors of  The Goldman Sachs Group appeared in an interview with CNBC’s “Squawk Box”.

David was questioned, about how Goldman Sachs sees itself in the crypto industry. Then David indirectly stated that company follows the basics of how the money financial system does on a day-to-day basis.

“I continue to be a real bull on the digital disruption of the financial infrastructure that underpins everything that we and others that interact in the financial system do on a day-to-day basis.”

Further, David added:

“the way money moves around the world, the way we can keep track of things, the way we can create automation and efficiency.”

David said that Goldman Sachs is a big believer in crypto and blockchain and also it has huge expectations from the technology which are in existence and which will exist in the future because these will help to grow the infrastructure. 

According to Goldman Sachs Group Chairman, this innovative industry will help to provide a better flow of the work experience for customers because it avoids the middleman system and provides better efficiency.

David also emphasized the issues associated with the regulatory concerns related to the cryptocurrencies and said that such issues are responsible to prohibit the company to go with expanded crypto-related services for the clients. 

Further, David said that they are looking for the best possible and new ways to introduce the use cases of blockchain technology. 

Goldman Sachs Chairman also said that he is not much interested in the up and downs of Bitcoin price but he is influenced much by the Bitcoin-based technology and infrastructure.

Read also: Crypto industry can be categorise in three things, says Michael Saylor

Crypto & blockchain technology give latitude to evolve: Goldman Sachs

 

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