And now, according to people familiar with the matter, The Wall Street Journal reports that Goldman Sachs is the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market.
“In response to client interest in digital currencies we are exploring how best to serve them in this space,” a Goldman spokeswoman said.Goldman’s effort is in its early stages and may not proceed, the people said. The firm’s interest, though, could boost bitcoin’s standing among investors and fuel the debate around digital currencies, which were initially viewed as havens for illicit activity but are pushing further into the mainstream investment world.
All about GS going into crypto. Crypto is, first, just a much better transaction technology and affords auto-pricing in asynchronous time, as needed. The IMF gets that too.
The main idea is the ringed fenced with trusted parties. Block chain is just a great addition to the general idea. There are two layers, the no-arbitrage cash layer and the smart contracts above.
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