Cryptocurrencies, including Bitcoin, deserve to be part of a sustainable future world economy, believes Adena Friedman, CEO and President of Nasdaq, the leading stock exchange.
She shared her view on cryptocurrencies and the ways of how the market will develop further in a recent LinkedIn post published ahead of the International Economic Forum in Davos slated to begin on January 22.
According to the CEO, after Bitcoin grabbed the world ten years ago, thousands of cryptocurrencies appeared, attracting the attention of investors. The whole concept underwent through every stage of the classical life cycle of any technological invention: from early pioneers to hype, resulting in a large number of newcomers, followed by the inevitable consequences.
Pursuant to Friedman, there are two possible future scenarios. First of all, cryptocurrencies can find practical application and thus will be integrated into the economy. Meanwhile, another possible development is that cryptos may enjoy wide recognition and its commercial use as a mean of exchange will be limited.
The use of the blockchain technology and the crypto industry, however, only keep on growing, attracting more and more new investors.
"This technology itself is a terrific demonstration of genius and creativity and deserves to find its place in the sustainable future of our economy," she opines in the post.
Friedman believes that the regulations are needed to move forward. After global governments clarify them, the cryptocurrencies may find practical application in regular life, gain sustainable value, and facilitate all the financial aspects of life. Nasdaq holds a finger on the industry’s pulse as well, investing in cryptocurrency companies. Moreover, the company is planning to launch Bitcoin futures this year.