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How the Cryptocurrency Industry will Benefit from Goldman Sachs’ Entry

by David Drake   While many big banks have opted to stay away from cryptocurrencies, at least for the time being, Goldman Sachs has been paying keen attention to the industry. Just recently, the bank announced plans to set up a Bitcoin trading desk. If this plan pulls through, the bank will be the first to set up such a facility on Wall Street. Initially, the bank will not be trading actual Bitcoins. However, Goldman Sachs has already set up a team to explore the possibilities of doing so should the bank get a regulatory approval. Though Goldman Sachs’ entry into the cryptocurrency space will create some concerns for the bank, players in this space feel it will be critical in validating cryptocurrencies. Maša Vozlič, psychologist for Big Data Profiling at BehaviourExchange, says, “The fact that an esteemed financial institution such as Goldman Sachs recognizes the future relevance of Bitcoin ... Read More »

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