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Work is underway to introduce a new one kryptowaluty, whose creator is to be Goldman Sachs. The company takes its inspiration from JPMorgan and their stablecoin JPM Coin.
Development towards digital assets
plans Goldman Sachs revealed in an interview Mathew McDermott, who is responsible within the company for all issues related to digital assets. Although for many years he was a declared supporter of traditional financial markets, he does not hide that digital financial management has enormous potential. Moreover, the management of such forms of assets can be successfully automated.
The future of financial markets is blockchain
McDermott expressed his belief that the entire financial market would be blockchain based in the coming years. This will mean that all financial activities in the physical world will be carried out in digital form, thus providing new service efficiency. Even entire ecosystems of financial markets will be created, providing completely new opportunities. To increase the company's performance in this area, Goldman Sachs even hired additional employees in Asia and Europe.
JPM Coin
One of the experts newly hired by the company is Oli Harris, former head of JPMorgan Chase, who has largely contributed to the development of stablecoin JPM Coin. He is linked to the Ethereum-based Quorum platform, in which Harris was the vice president.
The team led by McDermott decided to look at what application the distributed ledger technology can find on the credit market. However, for digital technologies to flourish, they must first be fully approved by participants in traditional financial markets. It is precisely to achieve this goal in the future that Goldman Sachs collaborates with other companies, including JPMorgan and Facebook. The main subject of the dialogue is the development of a new stablecoin, similar to JPM Coin or Libra. There are many indications that Goldman Sachs will follow the same path as the new partners, who, let us remind you, were initially very critical of digital currencies. Now they see enormous potential in them.
