Finance News

Story: Unproven Status and Volatility of the Cryptocurrency

By Steven Anderson

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A recent report from Kaspersky has to state that many people are not yet ready to adopt cryptocurrency.  There are more than 1500 cryptocurrencies already on the internet.

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Kaspersky has studied customer attitude, and they have surveyed more than 13,434 people and in nearly 22 countries during October and November.

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There was a great “crypto crash” in the year 2018.  This was a point a time when Bitcoin did lose more than 65% of its value.

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Just like JP Morgan, Goldman Sachs might as well launch their cryptocurrency.

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David Solomon, CEO of Goldman Sachs, stated that they are into a lot of research concerning the concept of "tokenization."

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Solomon stated that he has a lot of belief on the potential of the blockchain based cryptocurrency, thereby making way for frictionless cross-border payments.

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There is likely to be a definite change shortly.  Solomon further added, "I think regulators around the world are watching what’s going on.

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Solomon also stated, “Many people are looking in this direction. But it is too early to say which platform will prevail.

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When it comes to banks willing to join the cryptocurrency race, Solomon opines that banks should be innovative failing which they might disappear altogether.

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However, the new people talking about their venture into the cryptocurrency space will take a lot of time to materialize. And they are very far from the launch.

The Currency Analytics

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