Former Goldman Sachs President Gary Cohn, in an interview today, said that he expects a global cryptocurrency to become reality but this coin will be simpler than bitcoin, a more easily understood cryptocurrency. He also stated that he was a believer in blockchain technology. Cohn was a member of the Trump team but resigned from his role as chief economic advisor in early March.
It seems that Mr Cohn is one of many, including his former employer, Goldman, who are embracing the idea that blockchain technology does have a future. Goldman hired its first head of digital asset markets in its securities division.
Bitcoin is created through `mining` which is a process that requires specialized computer hardware and massive amounts of energy. Bitcoin is the first and most talked about cryptocurrency that uses blockchain technology, which creates a secure and permanent record of transactions between two parties. However, one drawback for cross-border transactions with bitcoin is that it has limitations in handling high transaction volume.
Team Classiarius has put together a series of articles and video presentations that focus on the March through June 2018 window as one of constant change as this new ecosystem moves from a unregulated and sometimes distrusted market to one that will draw support from institutional investors.
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Dislaimer: We do not provide investment advice or strategies, this article is not intended as such but only to provide you the reader with information. Please conduct your own research before any investment of any kind.