Nasdaq CEO Say's: Crypto Could Still Become ‘a Global Currency of the Future’ - BITCOIN NET MAGZ

Nasdaq CEO Say's: Crypto Could Still Become ‘a Global Currency of the Future’

- 16.30

Adena Friedman, president and CEO of Nasdaq Inc., states that cryptocurrency"deserves a chance to discover a sustainable future in our economy," at a post on LinkedIn, printed Jan. 20.

Writing ahead of her look at the World Economic Forum at Davos this week -- the launching day of which is now, Jan. 22 -- Friedman stated that Nasdaq believes crypto will have a function in the future, characterizing "the invention itself [because ] a huge presentation of genius and imagination."

Thus far, she contended, crypto has evolved by exactly what she said a"classic innovation lifecycle" -- by its ancient path forged by leaders in cryptography and economics, into a period of achievement, the proliferation of new market entrants, and now, most recently,"a dose of reality." Crypto so stands at a crossroads, she says, whines between one of two results:

    "1) Lately the invention finds practical usefulness followed by years of continuous and sustainable commercial advancement and integration into the economic material (e.g., the Internet); or

    2) The invention fails to attain wide adoption and its own commercial uses as medium of exchange are limited (e.g., the Segway)."


The CEO argued for crypto to evolve to some functional, useable invention with stable value it needs"governance and regulatory clarity." She suggested that both of these are, at the core,"antithetical to the original intention [of] a decentralized, ungovernable worldwide currency."

Remarking about the need for a transparent and reasonable crypto exchange market in particular, Friedman noted that Nasdaq has supplied its in-house tech to help start-up exchanges invent best practices.

As mentioned, Nasdaq has provided its own SMARTS Market Surveillance Technology to major industry participants such as the Winklevoss twins' Gemini market, which enables the system to monitor suspicious trade behavior in a bid to avoid market manipulation.

Back in December, ErisX, an institutional market for crypto place and stocks, increased $27.5 million from Nasdaq Ventures and Fidelity Investments.

 

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