Goldman Sachs is considering the possibility of launching its digital currency
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Goldman Sachs is considering the possibility of launching its digital currency
Mr. Matthew McDermott, Director of Digital Markets at Goldman Sachs, revealed that the bank is preparing a stable digital currency that the bank puts among its priorities.
In an interview with CNBC Yesterday, Bohm told 46-year-old McDermott, who started at the bank last month on behalf of his colleague Hasten Schmidt, that Goldman Sachs is exploring the commercial viability of creating a private digital currency and that the project is still in its early days.
McDermott added in the interview that the bank is very keen to move forward with developments related to blockchain technology and in the financial system where all assets and liabilities are located on the blockchain, which we can see in the next ten years.
Read:What is the XRP currency? What is its relationship with Ripple?
McDermott noted in the same interview with CNBC that huge efficiencies can be created by digitizing everything, adding that debt issuance and loans can all be improved through technical developments.
New boss McDermott is doubling the team he oversees by hiring people in Asia and Europe.
One of the first to join the McDermott team is Ollie Harris, who has previous experience launching JPMorgan’s cryptocurrency.
McDermott also has a long history of working in finance, having worked at Goldman Sachs since November 2005.
He also previously worked as an analyst at Morgan Stanley which is a multinational investment bank.
Goldman Sachs has long been eyeing blockchain technology, but at times it has seemed skeptical of cryptocurrencies such as Bitcoin and Ethereum. Last May, Goldman Sachs denied that Bitcoin is a financial asset class.
On the other hand, McDermott stated that there has been a noticeable rise in the interest of institutional customers in the bank in the matter of cryptocurrencies.
Read:What is the reason for the drop in the price of Ripple (XRP) by more than 50 percent in the BitMEX platform?
Read also:
Demand for the digital stablecoin “Tether” pushes its total value above $10 billion
Why does Tether dominate the stablecoin market?
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time