Altcoins Talks - Cryptocurrency Forum
Further Discussions => Economics , Sociology & Politics => Topic started by: Adrian on September 24, 2018, 05:09:52 AM
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Goldman is setting up a Cryptocurrency Trading Desk. Ok it's old but... What will the prospects of this choice be?
Why did a group like Goldman make this choice? Will there be more attempts by banks and financial institutions to make bitcoin more institutionalized? What should we expect from all this? can the blockchain world continue to ignore the "real" global economic market and vice versa?
When the old economy approaches these issues it seems that the strategies they set up are always very cautious and vague. Do not they believe it enough or do they have any plans to enter into a forced collaboration in the future with the help of politics or some future strategy? You can not find sufficiently informed articles on this subject. Everyone suddenly seems to realize that the bitcoin price rises and falls and public information constantly sees the crypto traders as a group of madmen who risk everything for "non-real investments". But it is hard to believe that the old system does not have a plan to enter at the right time in all of this or that it's not realizing the potential of the blockchain. Why this delay? What are they waiting for? Is the global crypto market strong enough to undergo future interference by the great powers? (I remind you that at the minimum announcement from China, the market suffers big repercussions)
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This is a good development because previously Goldman had a cautious stance towards digital currencies. At least of Wall Street 's biggest firm is interested in cryptocurrency to the extent of setting a digital currency trading desk.
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At first, the really old economy tried not to notice cryptocurrency. However, in recent years the situation has changed dramatically. Now states are already competing among themselves in the issue of their national stable coins after Zuckerberg announced ambitious plans to issue a global coin to Libra.
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States no longer ignore cryptocurrency, although they still do not take it seriously due to the relatively small volume of turnover and level of capitalization, and therefore, quite recently, the G7 countries came to the conclusion that cryptocurrency does not pose a threat to the global economy.
The coronavirus pandemic has changed the attitude of states towards their paper money as a possible source of the spread of this virus and towards the digitization of national currencies due to their obvious advantages over conventional currencies and even their non-cash payments.
In addition, cryptocurrency continues to develop rapidly, DeFi projects have appeared, which have begun to perform functions based on smart contracts and blockchain technology, which have always been considered the functions of banks.
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States no longer ignore cryptocurrency, although they still do not take it seriously due to the relatively small volume of turnover and level of capitalization, and therefore, quite recently, the G7 countries came to the conclusion that cryptocurrency does not pose a threat to the global economy.
The coronavirus pandemic has changed the attitude of states towards their paper money as a possible source of the spread of this virus and towards the digitization of national currencies due to their obvious advantages over conventional currencies and even their non-cash payments.
In addition, cryptocurrency continues to develop rapidly, DeFi projects have appeared, which have begun to perform functions based on smart contracts and blockchain technology, which have always been considered the functions of banks.
Yes, we must admit that with the Covid-19 pandemic, the use of digital money is highly recommended instead of paper money, because it is alleged that paper money is one of the transmitters of a very dangerous transmission. but there are still many countries that have not recognized the existence of crypto and have not even recognized it as a legal means of payment and they make their own privately managed digital money systems for online and manual purchases. it takes more time for more and more countries to accept crypto and this is of course very much needed hard work because it needs a clear explanation that crypto will not interfere with existing systems in the user's country.