The investment bank Goldman Sachs has hired a new vice president for the Digital Assets team within its Global Markets Division in London.
According to a recent job announcement on the investment company’s website, the new vice president will work with the Digital Assets team on „the definition and execution of Goldman Sachs‘ distributed ledger (DLT) and blockchain technologies, including any potential initiatives in the crypto-currency space. The role requires that any applicant be able to identify opportunities where blockchain and DLT technologies can add value.
Pomp: Goldman Sachs‘ interest in blockchain denotes innovation by necessity
Goldman Sachs‘ current president of Digital Assets is Mathew McDermott, who took over the role on August 6.
Change of direction to cryptomonics
The recent addition of McDermott and the pursuit of this new position indicates that Goldman Sachs is taking a more proactive approach to cryptoactives in uncertain economic times.
Winklevoss: The US dollar is now ‚fun money‘ and that favors Bitcoin
On August 6, McDermott said in an interview with CNBC that the company is „exploring the commercial viability of creating a digital token trust,“ allegedly a stablecoin linked to the U.S. dollar.
„Over the next five to 10 years, you could see a financial system where all the assets and liabilities are native to a blockchain network, with all the native transactions occurring in a chain.
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The strengthening of the Digital Assets team follows a call from investors in May, in which Goldman Sachs analysts argued that Bitcoin (BTC) lacked legitimacy, provided no cash flow, did not provide diversification and had not shown any evidence of being a hedge against inflation.