CEO Nasdaq: Cryptocurrencies Are Next Step of Currency Systems

May 14, 2018

Nasdaq stock exchange CEO Adena Friedman has stated, she is monitoring the development of digital currencies and called them the “right next step in the space of currency”:

“How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy.”

Note that Friedman stated in an interview earlier, Nasdaq’s Bitcoin futures for long term investments to be launched soon. She added, with crypto market turning mature the exchange will consider starting its own crypto platform.

On top of it, she gave positive assessment to the potential Blockchain has and said the technology is able to cover many system risks thus allowing for banks to save pretty much on it.

Yet Friedman does not believe that total spreading of Blockchain will transform the whole financial system in a shake. As she put it, this is going to happen gradually and process will start with less regulated and inefficient markets.

“The first uses of the blockchain will be in the less regulated markets, less efficient markets, more bespoke markets. Test it out, show that it works, demonstrate the efficiency in the Nasdaq private market or in the fund industry. It takes a village to make it work, but people are going to be highly motivated if we show that the use cases bring a lot of efficiency.”

Friedman continued that the village has to include governmental regulators to keep the process in check and thus influence much the development of the industry in the future.

“Are the governments going to start to embrace it? Or are they still going to have it sit outside the realm of their oversight? That’s the real question that’s yet to be answered. I think the technology is fascinating and it’s a very sound technology. It’s just a matter of making sure that the community is all embracing it together.”

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