Cryptocurreny Is Being Taken Serious
How serious a player is cryptocurrency on the world financial stage?
While many are uncertain, for valid reasons, it appears that the digital asset is garnering more attention for legitimacy. The decentralized nature of cryptocurrency has pushed the mainstream financial system has taken notice. Many central banks are looking at creating their own led by China who is expected to have one out within the next few months.
Regulators around the world want to stop the likes of Bitcoin yet are realizing that it is a fruitless proposition. Even members of Congress have openly admitted they could not stop Bitcoin even if they wanted to.
Thus, the banking industry took the approach to create their own digital assets in an effort to fend off the disruption of cryptocurrency.
It appears that Wall Street is taken more notice.
The world's second largest exchange, the NASDAQ, is looking to launch Bitcoin futures. According to Adena Friedman, the Chief of NASDAQ, the exchange seeks to offer a unique product that is not available elsewhere.
She said that exchange experts are negotiating with representatives of the cryptocurrency industry and assess the feasibility of this initiative at the moment. She claims Nasdaq wants to launch a unique financial instrument, and its competitors don`t have analogs. Besides, the company is very responsible for the risk management policy.
Friedman added that now a subsidiary of Nasdaq Nordic offers exchange products based on the first cryptocurrency. She is also confident that digital currencies will play one of the key roles in the global financial system in the near future.
The last statement shows the view by some in the financial industry. She sees digital currencies as playing one of the key roles in the global financial system. I am sure she is referring to those established by the traditional financial entities and not focusing a great deal on the decentralized world. Personally, I think this is a biased view and underestimating what is taking place in the decentralized world.
Nevertheless, the financial community is taking notice. It is a small segment of the entire population but most are going to wake up to what cryptocurrency and other digital assets can do. I do not believe that it will take too long for things to really start changing the landscape of finance.
With all the innovation and creation surrounding this industry, a couple more years like we saw last year will put the crypto industry on much firmer footing.
When entities like NASDAQ start to take notice, that is saying something.
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Posted via Steemleo