Kryptoszaleństwo. Goldman Sachs follows Facebook

In recent days, rumors from the beginning of the 2019 year have been confirmed Facebook's own cryptocurrency. One of the largest financial holding companies in the world - JP Morgan - just a few days after this event, announced the creation of its own blockchain-based system. Today we hear that Goldman Sachs is more and more serious about releasing its own digital asset under its wing. Madness on private matters, cryptocurrency issued by the largest companies (including investment, as you can see) seems to have no end.

Recently, the very insinuations regarding work or projects developing plans to introduce such solutions to enterprises have become very fashionable. So what plans does Goldman Sachs have?

Check it out: Coinbase distributes 45 millions of tokens for free

Tokenization of the future of payments

David Salomon in the last newspaper interview Les Echos He recalled very conservatively about the introduction of cryptocurrency later this year. At the moment, the plans end with conducting broadly understood research. The project is to include not only the creation of a transaction system based on blockchain technology. The bank's authorities intend to develop a program that would allow converting currencies or assets into transferable digital contracts. The idea arose somewhat in the field of the idea of ​​Libra itself and the idea of ​​Mark Zuckerberg. The cryptocurrency that Facebook wants to launch is to move in the direction of stablecoins. These are digital assets related to fiat assets (in the case of Libra, it is the US dollar). This is also the vision of Goldman Sachs.

Copy paste

There is not the slightest speech here about the original idea. The topic of introducing own cryptocurrencies, as alternative forms of current transaction systems, seems to be relatively trite. In an interview, we can read about the reply of David Salomon when asked to follow JP Morgan. He commented on this suggestion in the following way:

"Let's assume that all major financial institutions around the world are looking at the potential for tokenization, stability and easy payments."

Partnership or competition?

Facebook through its own payment system, which in its idea is to allow free access to finance and operations performed on them creates (so far unnoticeable) problem for large financial institutions, with standard forms of settlement. David Salmon emphasized in the interview that the lack of innovativeness of banks in terms of changes will cause them to disappear. One of the many reasons is to be low profitability of operations carried out so far. The problem that he sees in the near future is the regulation of new solutions based on blockchain. In his view, the giants will have to rely on partnership to not give up "Push" from the market through new regulations.