Goldman Sachs CEO David Solomon Believes Blockchain Is More Important Than Bitcoin – Blockchain Bitcoin News

Bitcoin.com

David Solomon, CEO of Goldman Sachs, one of the leading banking institutions in the world, has stated his opinion on the bitcoin vs blockchain dilemma. To Solomon, bitcoin is not as important as the advancements in technology that implementing blockchain and other new ledger-based tools can bring to the traditional finance world. The executive further stated he doesn’t own bitcoin or ethereum personally.

Goldman Sachs CEO on Bitcoin

David Solomon, CEO of one of the biggest banks in the world, Goldman Sachs, has explained that for him, bitcoin is less important than the technology behind it. The executive issued these statements in an interview on CNBC’s Squawkbox on Tuesday. When asked about his views on crypto, Solomon answered:

How To Get Free Crypto  

My view on, on bitcoin for example is I really don’t know but it’s really not something, you know, individually that’s important to me.

Furthermore, he argued that the true value of bitcoin lies in the technology that powers it, blockchain, and how it can affect the future of the financing world. Solomon stated that he is a ‘”big believer” in the disruption that these technologies are causing, and that Goldman Sachs is also trying to participate in this revolution vis its services app.

Solomon: ‘Bitcoin Is Not the Key Thing’

Solomon also stated that in his opinion, bitcoin was not essential in the view of the banking industry, and that was the influence of the new technologies that bitcoin and other cryptocurrencies have brought with it that was the key for the modernization of current banking platforms. Solomon stressed:

I think bitcoin is really not the key thing. The key thing is how can blockchain or other technologies that are not developed yet accelerate the pace of the digitization of the way financial services are delivered.

However, he did state that as a speculative asset it was important for Goldman Sachs to offer bitcoin to its customers, to let them bet on the market behavior of the currency.

In the last year, bitcoin (BTC) has been vindicated as a valid asset by several important banking institutions, including JPMorgan, which had criticized the true utility of bitcoin’s proposal several times in the past. The bank started offering access to cryptocurrency investments for its customers earlier this year. The critics of its CEO Jamie Dimon, who said bitcoin was worthless before, didn’t affect the ability of the bank to provide this kind of service to its customers.

Coinbase Banner  
Tags in this story
Banking, Bitcoin, Bitcoin (BTC), Blockchain, Blockchain tech, blockchain technology, CNBC’s Squawkbox, david solomon, goldman, goldman ceo, Goldman Sachs, goldman sachs bitcoin

What do you think about David Solomon’s “blockchain, not bitcoin” approach? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Sergio Goschenko


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.