Nasdaq CEO Checks Bitcoin Haters by Saying Crypto Could Still Become a Global Currency
The president and CEO of Nasdaq, Adena Friedman, has affirmed that cryptos deserve an opportunity to find their place in the future. On a LinkedIn post, the chief of the financial company has affirmed that cryptos are good enough to find their own sustainable future.
She wrote the post just before appearing at the World Economic Forum at Davos, which is starting today, and affirmed that crypto will have a role in the future of mankind at the same that she affirmed that they are a big demonstration of creativity and ingenuity.
According to her, cryptos are following the normal route for inventions. A group of pioneers invents something and there is a period of hype after the society discovers about it. In this period, people enter the market way too hyped and there is a healthy dosage of reality later on, which is the current bear market.
After that, she believes that there are mostly two classic outcomes that can happen. Either the innovation finds its way to be steady and sustainable and it is fully integrated into the economy or it simply fails to achieve any significant broad adoption and it becomes limited.
If cryptos are to become a success story and evolve into something really revolutionary and useful for the world, they will need more clarity on governance and regulation. However, she sees this as antithetical to the original intent of building an ungovernable decentralized currency, which may be a problem for cryptos in the future.
She used the opportunity to talk about Nasdaq as well, obviously, affirming that there is a need in the market for more transparent alternatives and that Nasdaq is transparent and it has provided in-house tech that helped many startup companies to become more transparent, too.
In fact, Nasdaq has offered its SMARTS Market Surveillance Technology to other companies, which is probably what she was talking about. Companies like the Gemini exchange, which was created by the well-known Winklevoss twins, use it to monitor any suspicious trade behavior and be compliant with the rules and regulations of the U. S.
Another company to use this technology is Nasdaq’s Financial Information Exchange (FIX), which also deals with cryptos and tokenized stocks.