Recently, David Solomon, who is Chairman, CEO, of The Goldman Sachs Group, Inc., presented his considerations on blockchain innovation and crypto by stated himself to be a real bull on the digital disruption of the financial infrastructure.
On May 18, Solomon offered his remarks during an interview with Andrew Ross Sorkin on CNBC’s “Squawk Box”.
When asked how Goldman sees himself merging into the crypt world, Solomon replied:
“I continue to be a real bull on the digital disruption of the financial infrastructure that underpins everything that we and others that interact in the financial system do on a day-to-day basis — the way money moves around the world, the way we can keep track of things, the way we can create automation and efficiency.”
“Big believer that the blockchain and other technologies, some that exist, some that haven’t been developed yet give us great latitude to really evolve that infrastructure, create less friction for end users, more efficiency, cheaper products and services. And so, a big believer in that. We’ve been investing a lot in that.”
“With respect to cryptocurrencies, as you appropriately point out, the regulatory construct does not let us do a lot. We talk to clients, we try to respond to increase from clients. We’re trying to find interesting ways to use the blockchain and use technology in the world that we operate it.”
“So, we’ve been involved in the construct of doing some repo on the blockchain. We’ve been involved in making loans that are structurally secured by somebody who would custody some sort of cryptocurrency. But at the end of the day, I don’t have a strong view — Bitcoin up, down, sideways. I’m more focused on being in the technology infrastructure than I am on cryptocurrency.“
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