• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 1

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 2

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 3

    Did the Farmcubation of $EBOX Work?

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • All
    • Altcoin News
    • Binance News
    • Bitcoin Cash News
    • Bitcoin News
    • Blockchain News
    • Cardano News
    • ChainLink News
    • Cyber Security News
    • Dogecoin News
    • EOS News
    • Ethereum News
    • Exchange News
    • Industry News
    • Litecoin News
    • Monero News
    • Polkadot News
    • Regulation News
    • Research News
    • Ripple News
    • Scam News
    • Token Sale
    • Tron News
    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 4

    Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

    Bitcoin

    Bitcoin worth $4.5 billion transferred in historic event

    MicroStrategy  partners with MIT to strengthen Bitcoin  network 5

    MicroStrategy partners with MIT to strengthen Bitcoin network

    Bitcoin

    Bitcoin remains bearish despite breaking $48,000 mark

    Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI

    Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

    MicroStrategy

    MicroStrategy buys more Bitcoin yet again

    DOGE price prediction

    DOGE Price Prediction: Dogecoin on the brink of a 50 percent price depreciation

    FATF

    Bitcoin could soon be adopted for international exchange – CitiBank Analyst

    Did the Farmcubation of $EBOX Work? 6

    Did the Farmcubation of $EBOX Work?

    Trending Tags

    • Fintech
    • Bitcoin Industry
    • Stock Market
    • Digital Currency
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Altcoin News

Goldman Sachs crypto development to require Facebook, JP Morgan involvement

Muhaimin Olowoporoku by Muhaimin Olowoporoku
August 10, 2020
in Altcoin News
2 min read
Goldman Sachs crypto
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

American bank Goldman Sachs crypto development could entail collaboration with social media giant Facebook and JPMorgan bank.

Towards the development of Goldman Sachs crypto also, the bank appointed Mathew McDermott as the new head of digital assets after serving as a managing director running the investment bank’s internal funding operations.

The new head of digital assets revealed that Goldman Sachs crypto development is underway. CNBC reported the former managing director to have said that Goldman Sachs is exploring the commercial viability of creating its fiat digital token.

RelatedPosts

Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

Dash Price Prediction: Dash surges past the $300 mark, could hit $600

Binance Coin (BNB) becomes third-largest: Is BSC coming for Ethereum?

Algorithmic stablecoins’ instability threatens their usefulness

However, McDermott explained that the project is only in its early days as they are trying to figure out a potential use case.

McDermott, towards achieving Goldman Sachs crypto, is expanding his team involving Oli Harris, JPMorgan Chase’s head of digital assets strategy, and he in person gets in touch with Facebook quite often.

Oil Harris was part of JP Morgan’s crypto development JPM Coin and the vice president in charge of Quorum, the Ethereum-based blockchain platform that underpins the JPM coin.

Why Goldman Sachs crypto development requires JP Morgan, Facebook

According to McDermott, he explains that a consensus must be built with other banks, institutional investors, and regulators. Crypto technology generally would only take off when a lot of users across the world of finance adopt it. McDermott believes as industry Consortium is the way forward, he explains.

This explains why the new digital asset head keeps in touch with Facebook and JP Morgan, who both believe in cryptocurrency and have made moves towards crypto advancement. Facebook’s Libra stablecoin project also currently facing regulation issues has also updated plans to meet regulatory requirements.

McDermott 10 years projection for crypto, blockchain

The former managing director explains that in 10 years, a financial system where assets and liabilities are on a native blockchain would be in place, and all transactions happen on the chain.

McDermott believes that since the Bitcoin boom occurred, rich and large investors are now interested in it, shifting from retail and small investors. He says there’s an uptick in interest from institutional clients who are looking for ways to get on board in the space.

It is worthy of mention that as Goldman Sachs crypto development is underway, the bank previously was not pro crypt occurrent. Earlier this year, Goldman Sachs told clients that cryptos, including Bitcoin, are not an asset.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

Related Posts

Weekly Crypto Price Analysis 01-03: BTC, ETH, DOT, UNI, SUSHI
Altcoin News

Weekly Crypto Price Analysis: BTC, ETH, DOT, UNI, SUSHI – 1st Mar

March 1, 2021
Dash Price Prediction
Altcoin News

Dash Price Prediction: Dash surges past the $300 mark, could hit $600

February 19, 2021
US exchange, Coinbase files with SEC to go public through direct listing
Altcoin News

Binance Coin (BNB) becomes third-largest: Is BSC coming for Ethereum?

February 19, 2021

Follow Us

  • 40.9k Fans
  • 8.3k Followers

Latest News

Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC 7

Giganomics to Tokenomics – The ILCOIN Outlook on Earning Opportunities With WILC

March 2, 2021
LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike 8

LetsExchange Launches Crypto Exchange Platform, Caters to Novices and Expert Traders Alike

March 2, 2021
Bitcoin

Bitcoin worth $4.5 billion transferred in historic event

March 1, 2021
MicroStrategy  partners with MIT to strengthen Bitcoin  network 9

MicroStrategy partners with MIT to strengthen Bitcoin network

March 1, 2021
Bitcoin

Bitcoin remains bearish despite breaking $48,000 mark

March 1, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Exclusive Partners of

Footer 10

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Binance
    • Security
    • Ripple
    • Litecoin
    • Ethereum
    • Dogecoin
    • Cardano
    • Tron
    • Token Sale
    • Industry
    • Exchange
    • Polkadot
    • ChainLink
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Bitcoin Cash Price
    • Chainlink Price
    • Litecoin Price
    • Polkadot Price
    • Cardano Price
    • Binance Coin Price
    • Stellar Price
    • EOS Price
    • Tron Price
    • Monero Price
    • Dash Price
    • IOTA Price
    • Dogecoin Price
    • Altcoin Price
    • Sushi Price
    • Uniswap Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.