According to the representative of the company, the research is at an early stage and one does not expect much. If successful, Goldman Sachs will be the first bank in Wall Street to become a direct participant in the cryptocurrency market. Some large banks also plan to start developing applications for the blockchain.
Matthew Goetz, CEO of BlockTower Capital and former vice president of Goldman Sachs, said that the "smartest" and promising organizations of Wall Street should begin to enter the market of cryptocurrencies, as this industry continues to grow, generating new business areas and becoming more important part of the common market.
According to The Wall Street Journal, the move would make it the first big Wall Street firm to deal directly in the controversial market.
The news comes as Goldman's (NYSE: GS) lending partner Fidelity also experiments with bitcoin. According to Quartz, CEO Abigail Johnson addressed the topic — as well as the company's goals as they relate to cryptocurrency — at a bitcoin conference in New York this past May.
Swissquote Bank's Yann Quelenn is also a proponent.
"The lack of any central authority makes bitcoin remarkably resilient to censorship, corruption – or regulation," the analyst said. "That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it’s hard (but not impossible) to trace a bitcoin transaction back to a physical person."
edinarcoin.com
#blockchain #cryptocurrency #EdinarCoin #business #investment
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