Bitcoin and Crypto Could Become the Global Currency of the Future— Nasdaq CEO
According to a recent report, Adena Friedman, the Chief Executive Officer of Nasdaq has declared Cryptocurrency a new invention with a shot at becoming the global currency of the future.
Crypto is a Demonstration of Genius And Creativity
She said that:
“The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy. We would argue that two key ingredients to establishing a practical utility and a more stable value are governance and regulatory clarity – both of which are antithetical to the original intent as adecentralised , ungovernable global currency.”
She went further to talk about how Nasdaq believes in the importance of accountable regulation, thus, it is striving to
She was quoted saying that:
“And yet, as with exchanges, transparency and fairness are the keys to trust, and I some level of oversight and regulation, it is not possible to demonstrate a level of transparency and fairness that will build trust. At Nasdaq, we are working to help cryptocurrencies gain investors’ trust by offering our technology for trade matching, clearing, and trade integrity to start-up exchanges. We have also invested in ErisX, an institutional marketplace for cryptocurrency spot and futures. While this year will be another proving ground for cryptocurrencies, we believe digital currencies will have a role in the future. The extent of its impact will depend on the evolution of regulation and broader institutional adoption.”
Two Likely Future of Bitcoin
According to Friedman, the future of crypto is still a mystery, meaning, it might either fail or succeed.
She said that:
“With several thousand competing cryptocurrencies vying for investor attention, the world of ‘crypto’ has gone through the first phase of the classic invention life cycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality. What comes next is one of two outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or2) The invention fails to achieve broad adoption and its commercial applications as a medium of exchange are limited (e.g., the Segway).”
