Adena Friedman Says Cryptocurrencies Are at ‘The Height of a Hype Cycle’
Adena Friedman, Nasdaq’s CEO, was talking about different capital markets during the Bloomberg Invest Summit that was held in new York. She said that blockchain technology is one of the most important disruptive technological forces right now, and gave her opinion about virtual currencies.
She said that blockchain is a fascinating technology because it could be able to disrupt industries in the future. At the same time, she commented that it would be harder to implement because it requires an entire network to deploy it simultaneously, but in the future it could be an interesting force in the financial world.
Moreover, she explained that Nasdaq is taking a ‘research oriented approach’ regarding its position towards cryptocurrencies. Until now, she confessed, she did not buy any cryptocurrencies.
Adena Friedman shared her view about virtual currencies:
“I do believe that the construct of a cryptocurrency is something that is starting to become a construct that we can understand, that could become part of what I would call the financial element of the internet.”
Unfortunately, she defined cryptocurrencies as a ‘speculative asset’ that may not have any foundational purpose in the international commerce. Additionally, she said that one of the main benefits of virtual currencies is to process transactions faster at a cheaper costs, and that there would be just one winner (but she did not mention any specific currency).
Cryptocurrencies are at ‘the height of a hype cycle,’ she said because these digital assets are still unregulated. Additionally, she supports crypto exchanges for trying to regulate their services as much as they are able.
Nasdaq has is also analysing the possibility to become a Cryptocurrency exchange in the future. During another conversation, she commented that Nasdaq would consider becoming a crypto exchange over time, but they are waiting to have a regulated market that would provide a fair experience for investors.