Goldman Sachs CEO Visions Bitcoin In The Future!

2017-11-03 • Bit Man

"Maybe in the New World, Something Gets Backed by Consensus"

Introduced in 2009, Bitcoin was known in many internet domains and there is almost not a single internet surfer that hasn’t heard of that virtual currency, it had a weak start but in the middle of 2013, things have changed and it became a valuable thing for traders in the internet.

Lloyd Blankfein, goldman sachs’s CEO, has his eyes now on this currency since the last month, his company has shown different emotions regarding this matter and he considers it as the currency of the new age . though in the same past month, a controversy happened which led Blankfein into admitting that he didn’t put a single cent in this currency as his company was thinking about introducing a cryptocurrency trading desk, since dealing with bitcoins has been a risky business over the past few years, it’s price is incredibly volatile and there is no way to predict just where it will go next

The CEO has studied the situation by looking at the history of all currencies, this concluded with his interesting observation regarding his viewpoint: At one time a coin was worth 5$ if it contained 5$ of gold in its material form, today things have changed and people are using a paper backed by fiat, but what about the future? Blankfein said that maybe we’ll have a currency backed by a general agreement; or consensus.

His last statement strongly hints that he targets the cryptocurrency and bitcoin markets, it’s value was and always has been concluded through a system of consensus . it is the perfect example of a consensus-backed currency thanks to its underlying blockchain technology.

Today’s traders are looking intensely at blockchain technology, which led the world to have an worldwide monetary revolution, this revolution is affecting many sectors in the society and no one expects it to be over any time soon..

"Paper money was once viewed with equal suspicion..” said blankfein in one of his latest tweets. Financial topics have always been the CEO's primary interest, but bitcoin and related cryptocurrencies now seem to be pushing interests elsewhere. However due to the volatility of the market, the CEO is wise to proceed with caution.

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