Cryptocurrencies could find a sustainable future in our economy said Adena Friedman, the president and CEO of Nasdaq Inc. In a recent blog post on LinkedIn, Mrs. Friedman commented that cryptos deserve an opportunity to become part of the economy. Cryptocurrencies have been expanding all over the world and are receiving support from traditional financial institutions.
Adena Friedman, Nasdaq CEO, Would Give Cryptos Their Opportunity
According to Adena Friedman, cryptocurrencies deserve an opportunity to find a sustainable future in our economy. She gave these comments before appearing at the World Economic Forum at Davos. Switzerland is now hosting one of the most important economic events of the year in the city of Davos.
Friedman mentioned that Nasdaq believes that digital assets will play an important role in the future. Furthermore, she said that the invention of cryptocurrencies is a demonstration of genius and creativity.
Friedman went on saying that cryptocurrencies experienced a ‘classic invention lifecycle.’ It started being developed by pioneers in cryptography and moved towards a period of hype and now it received a ‘dose of reality.’
She has also said that cryptocurrencies sand at a crossroad:
“First, either he innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the internet); or second, the invention fails to achieve broad adoption and its commercial applications as a medium of exchange are limited (e.g., the Segway).”
The CEO of Nasdaq said that in order for cryptocurrencies to continue growing in the market, they will need governance and regulatory clarity. At the moment, there are several countries all over the world that are trying to regulate the space and create clear rules around them.
Furthermore, she mentioned that Nasdaq is currently working with startups offering them services to forge the best practices. One of these examples is the Gemini exchange. Nasdaq has provided the SMARTS Market Surveillance Technology enabling the platform to monitor suspicious trading activities and prevent market manipulation.
The Nasdaq stock exchange has also confirmed it will be listing Bitcoin futures. As we wrote in December 2018, the company confirmed that they will be launching Bitcoin futures during the first half of 2019. The information was released by Joseph Christinat, the vice president of the media team at Nasdaq.
“Bitcoin futures will be listed, and it should launch in the first half of the next year – we’re just waiting for the go-ahead from the CFC, but there’s been enough work put into this to make that academic,” commented Mr. Christinat.
