Goldman Sachs as a company has gone through a range of emotions when it comes to Bitcoin. They are now slowly coming around to it and as a consequence CEO Lloyd Blankfein can see it as a currency of the New World.
Blankfein admits that he has not yet invested in the controversial on Wall Street digital currency; however, he is not ready to turn on it or pooh-pooh it. Instead, Blankfein likes the idea of a currency backed by consensus.
Makes a lot of sense
Blankfein, while looking through the history of currencies, has made an interesting observation of what has been, what the currency situation is now, and why Bitcoin could work in the future - in a New World.
“I read a lot of history, and I know that once upon a time, a coin was worth $5 if it had $5 worth of gold in it,” Blankfein said in an interview with Bloomberg. “Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus.”