Is the world ready for a new step in the evolution of money?
On June 19 at the New York Economic Club in an interview with Bloomberg CEO Lloyd Blankfein confirmed his positive position according to the crypto-currency. When there was a discussion on whether a cryptocurrency could become a problem, Blankfein said that there would be an adaptation to the digital currency as well as was an adaptation to the paper money that replaced the coins.
Considering the evolution of money, Blankfein noted that the cryptocurrency and paper money have common features. For example, they both do not have intrinsic value. Blankfein believes that it is ’’too arrogant’’ to think that the crypto-currencies will not take root in our time and can not be accepted on a large scale because they are ’’uncomfortable’’ or ’’unfamiliar’’.
In 2017, Lloyd Blankfein claimed that at first there was people's distrust of paper currency and then it was accepted. The same situation will happen with the digital currency. Even if it is not widely adopted today, in the future it can act as a means of exchange of values.
In general, Goldman Sachs is known for its sceptical attitude towards bitcoins. Back in 2014, the company claimed that bitcoin was not a currency, in late 2017 rumours were circulating that the company is opening its own crypto trading platform. Eventually, Goldman Sachs switched to crypto assuring that Bitcoin was not associated with fraud. In May, Goldman Sachs-backed Circle app launched a new feature that makes it easier for beginners to enter the world of cryptomarkets.
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