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Goldman Sachs in the middle of researching future tokenization

Goldman Sachs tokenization

The CEO of Goldman Sachs, David Solomon, mentioned during an interview on June 27th that the company is in the middle of extensive research to find out about the benefits of future tokenization.

Solomon also added that the global payment industry is quickly shifting towards cryptocurrencies, namely stable coins in order to avoid the unnecessary volatility of the market.

Solomon didn’t mention anything about talks with Facebook about their new Libra project, but it definitely seems that the CEO is quite interested in the blockchain technology.

The CEO of Goldman Sachs didn’t shy away from speaking on behalf of most of the industry players, saying that nearly every financial institution and company in the world is now considering the potential of future tokenization and that it has nothing to do with JP Morgan Chase leading the way.

Solomon also addressed the regulatory issues with cryptocurrencies, saying that as the situation normalizes the government and banks will understand that new entrants in the crypto space are not a threat to them.

However, unless these large banks commit to introducing innovative products and services, there’s a large chance they may fall behind.

He also added that Facebook is trying to avoid being branded as a financial industry as it comes with its fair share of rules that aren’t very convenient for the company’s business model. Therefore the community should expect quite a lot of partnerships between Facebook’s Libra and pretty much any other company.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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