The head of the American stock exchange, Nasdaq adena Friedman in an interview with Bloomberg Businessweek said about why cryptocurrencies are now at the peak of popularity, and can they become the main medium of exchange online.
During the 20-minute interview live from Friedman discussed how new technologies and, in particular, crypto-currencies are changing the market. The CEO of Nasdaq said that cryptocurrencies are at the “peak of hype”, and in the industry there is a huge number of participants. Nasdaq itself could become more involved in the industry, providing its technology monitoring and market intelligence to some cryptomeria. But while the company conducts studies to determine for themselves when and whether at all, the exchange to begin to deal with digital currencies. However, Friedman believes that cryptocurrencies have the potential to become the main medium of exchange online.
The head of the exchange said that cryptocurrency is largely speculative asset class, which has no legal base from the point of view of international trade. Friedman suggested that when the digital currency will become more Mature, they will act as a simplified way to trade. However, what cryptocurrency would fulfil this function, while it is impossible to tell.
Aden also discussed the blockchain, saying that not yet solved the problem of scalability, the technology can not support the huge volume of transactions, which now makes the Nasdaq. Although some companies blockchain may prove to be useful.
“There are places where automation is still using paper, which is an inefficient accounting system, and the securities are stored somewhere in boxes. Here, on the private market, where you can discover really long cycles of calculations, and should be sent to blockchain, is able to reduce them,” explained Friedman.
She does not deny the opportunities of the technology when properly used, but notes:
“I really think this is an amazing technology that can be quite destructive over a long period. It is difficult to implement… however, after some time, it can be a very interesting force for our business.”
We will remind that in April, Friedman called the stock market a potential platform for cryptocurrency trading in the future and added that “Nasdaq will consider the opportunity to become cryptocurrency exchange”.