Before metal coins, there were commodities such as live stocks and shells. Before paper money, there were coins. And now before Cryptocurrency, there was fiat money. We are now at the beginning of a new paradigm shift. Waves of such innovation has graced our world and along with it brought along new innovative technological advances.
For years the powers that be had been trying to keep Cryptocurrency at bay for the risk it poses to the current Central Banking financial system that they control. Cryptocurrency and the underlying blockchain technology is decentralized and has the power to take that away from them.
As the saying goes - "If you can't beat em, join em". And that is likely the scenario that is playing out right now. A Reuters report just published reveals that one in five financial institutions is considering trading cryptocurrencies in the next 12 months and 70 percent of those are looking to trade in the next three to six months. There is no denying that crypto is here to stay and the financial institutions are starting to embrace this fact and are preparing and adapting to it.
Leading the way is Goldman Sacs which has just officially made its first hire to the cryptocurrency department. “In response to client interest in various digital products, we are exploring how best to serve them in the space, but at this point, we have not reached a conclusion on the scope of our digital asset offering,” explained spokeswoman Tiffany Galvin-Cohen. There is growing demand from the financial institutions' clients to include cryptocurrency into their portfolio and it should come as no surprise given cryptocurrency's historical massive gains compared to other financial instruments.
The underlying technology behind it is starting to gain acceptance and is being utilized globally. How well prepared are you for the 4th Industrial Revolution?
https://altcointoday.com/cryptocurrency-has-potential-to-threaten-fiat-south-koreas-finance-minister/
https://bravenewcoin.com/news/one-in-five-financial-firms-looking-to-trade-crypto/
https://bitcoinmagazine.com/articles/goldman-sachs-makes-first-official-hire-its-cryptocurrency-department/
