The new VP will help to develop Goldman's "distributed ledger technology (DLT) and blockchain efforts firmwide."
Global finance giant Goldman Sachs is searching for a new vice president for its Global Markets Division’s London-based digital assets team.
According to the job posting, the team is focused on developing Goldman’s “distributed ledger technology (DLT) and Blockchain efforts firmwide, including any potential initiatives in the cryptocurrency space.” The new VP will focus on identifying opportunities where blockchain and DLT 'can add value.'
McDermott sees major growth for the blockchain sphere in the year ahead: “In the next five to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain," he told CNBC for an article published on August 6th, the day he joined the firm.
Goldman Sachs Seems to Be Warming to Blockchain, but May Be Keeping a Distance from Currencies like Bitcoin
McDermott’s recent hiring, along with the search for the new VP, seems to indicate that Goldman may be planning on scaling up its efforts towards building its blockchain and cryptocurrency-focused products and services.
This includes the exploration of the development of a fiat-based digital token, which McDermott also mentioned in his August 6th interview with CNBC.
Specifically, McDermott said that Goldman would be “exploring the commercial viability of creating a fiat digital token,” adding that within the next five to ten years, “you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain."
McDermott also commented that “we’ve definitely seen an uptick in interest across some of our institutional clients who are exploring how they can participate in this space."
However, at the same time, Goldman seems to be keeping some skeptical distance from Bitcoin. The Financial Timesreported that in an investors’ call this May, analysts from the firm said that Bitcoin lacks legitimacy, provided no cash flow, did not show evidence of being a hedge against inflation, and did not provide portfolio diversification.
Global finance giant Goldman Sachs is searching for a new vice president for its Global Markets Division’s London-based digital assets team.
According to the job posting, the team is focused on developing Goldman’s “distributed ledger technology (DLT) and Blockchain efforts firmwide, including any potential initiatives in the cryptocurrency space.” The new VP will focus on identifying opportunities where blockchain and DLT 'can add value.'
McDermott sees major growth for the blockchain sphere in the year ahead: “In the next five to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain," he told CNBC for an article published on August 6th, the day he joined the firm.
Goldman Sachs Seems to Be Warming to Blockchain, but May Be Keeping a Distance from Currencies like Bitcoin
McDermott’s recent hiring, along with the search for the new VP, seems to indicate that Goldman may be planning on scaling up its efforts towards building its blockchain and cryptocurrency-focused products and services.
This includes the exploration of the development of a fiat-based digital token, which McDermott also mentioned in his August 6th interview with CNBC.
Specifically, McDermott said that Goldman would be “exploring the commercial viability of creating a fiat digital token,” adding that within the next five to ten years, “you could see a financial system where all assets and liabilities are native to a blockchain, with all transactions natively happening on chain."
McDermott also commented that “we’ve definitely seen an uptick in interest across some of our institutional clients who are exploring how they can participate in this space."
However, at the same time, Goldman seems to be keeping some skeptical distance from Bitcoin. The Financial Timesreported that in an investors’ call this May, analysts from the firm said that Bitcoin lacks legitimacy, provided no cash flow, did not show evidence of being a hedge against inflation, and did not provide portfolio diversification.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Breaking: Binance's Changpeng Zhao Handed Four Months in Prison
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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