Nasdaq CEO Says Bitcoin and Crypto Could Become the ‘Global Currency of the Future’
In a new post on Linkedin, Nasdaq CEO Adena Friedman says Bitcoin and cryptocurrency are groundbreaking innovations that deserve to become part of the global economy.
“The invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy. We would argue that two key ingredients to establishing a practical utility and a more stable value are governance and regulatory clarity – both of which are antithetical to the original intent as a decentralized, ungovernable global currency.
According to Friedman, Nasdaq is doing its part to solidify the future of the emerging technology. She believes responsible regulation is key.
“And yet, as with exchanges, transparency and fairness are the keys to trust, and without some level of oversight and regulation, it is not possible to demonstrate a level of transparency and fairness that will build trust.
At Nasdaq, we are working to help cryptocurrencies gain investors’ trust by offering our technology for trade matching, clearing, and trade integrity to start-up exchanges. We have also invested in ErisX, an institutional marketplace for cryptocurrency spot and futures. While this year will be another proving ground for cryptocurrencies, we believe digital currencies will have a role in the future. The extent of its impact will depend on the evolution of regulation and broader institutional adoption.”
Despite its promise, Friedman says the future of crypto is unwritten, and two potential paths remain ahead.
“With several thousand competing cryptocurrencies vying for investor attention, the world of ‘crypto’ has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality. What comes next is one of two outcomes:
1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet); or
2) The invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).”
You can check out the full post here.