Lloyd Blankfein Surprisingly Constructive On Crypto


The former Goldman Sachs CEO says he is pretty positive about his former bank getting into the crypto space and also can see the potential for it unlike his former counterpart at JP Morgan who still has strong opinions about it even though JPM is starting to offer access to crypto to its clients.

You can catch the interview here:

He makes a good point that when cellphones came out, he wondered who would ever want such a thing. You could just pull your car over to the payphone and make a phone call. But of course, we know how that turned out.

The fact that so many smart people are putting their faith and energy into crypto gives him an indication that crypto has a future.

Where I disagree with him is the anonymity that crypto offers and it is here that it is quite clear that he hasn't delved deeply into the topic. Sure there are privacy coins like Monero but Bitcoin is hardly private. I mean, sticking transactions onto a ledger for all to see is not hidden at all. Quite the opposite - it provides radical transparency!