The CEO of the great Goldman Sachs, David Solomon, recently found himself in a interview with CNBC outspoken about how the crypto industry may finance can revolutionize the sector. David Solomon expects blockchain and crypto technology to be the future.
Goldman Sachs on crypto
In the interview, Solomon is asked what he thinks of the crypto ecosystem and how Goldman Sachs, if any, plans to enter this ecosystem. In his answer, he convincingly stated that crypto and blockchain integration is definitely on the agenda for Solomon at Goldman.
“I remain a real bully on the digital disruption of the financial infrastructure that underpins everything we, and others involved with the financial system, do every day – the way money moves around the world, the way we keep up with things, the way we can create automation and efficiency.”
In addition, Solomon indicates that he is firmly convinced that this will only be felt more strongly in the future. He indicates that there will be important technologies, which may not even exist at this point, that will have a major impact on the financial system. In any case, Goldman Sachs is not sitting still and is investing in this on a large scale, according to Solomon.
“I strongly believe that the blockchain and other technologies, some of which already exist and others have not yet been developed, give us a lot of leeway to really develop that infrastructure, create less friction for end users, more efficiency, cheaper products and services. And so we strongly believe in that. We have invested a lot in that.”
Not only the technology is interesting for Solomon, also cryptocurrencies themselves have piqued the interest of Solomon and Goldman. According to the CEO, the bank is actively looking for ways to offer cryptocurrency trading to clients, but the current regulation, or rather the lack of it, is an impediment.
“With regard to cryptocurrencies, as you rightly point out, the regulatory construct doesn’t let us do much. We talk to customers, we try to respond to increase in customers. We are trying to find interesting ways to use the blockchain and use technology in the world in which we operate it.”