It bodes well for cryptocurrencies everywhere the fact that the CEO with the world’s largest exchange, NASDAQ, has their back. Specifically, Adena Friedman thinks they?”deserve?to be able to find a sustainable future within our economy.”
The comments were made yesterday by Friedman from a posting for my child LinkedIn profile. The president and CEO of the?Nasdaq exchange was writing before her scheduled appearance around the?World Economic Forum at Davos.
NASDAQ CEO and Crypto
Friedman believes crypto should have an important part to play in the future, believing “the invention itself [is] a significant demonstration of genius and creativity.”
Her posting painted a fair picture of crypto’s journey so far. She highlighted the technology’s innovation, as well as the hype and intrigue surrounding it. She also called its recent demise “a dose of reality.“
Her opinion this is that cryptocurrency is presently at a crossroads whereby two outcomes are possible:
“1) Either the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration in the economic fabric (e.g., the web); or 2) The invention won’t achieve broad adoption and the commercial applications as the medium of?exchange?is limited (e.g., the Segway).”
The NASDAQ CEO discussed a contentious issue where crypto can be involved, and that is its current ironic position: for crypto to get useable with the everyday as well as hold a tangible and stable value, it needs “governance and regulatory clarity.”?However, these include “antithetical to the original intent [of] a decentralized, ungovernable global currency.” Herein lies cryptocurrency’s greatest irony.
NASDAQ and Crypto
NASDAQ has offered a helping hand to start-up exchanges in the last.?It has offered its in-house technology to new exchanges that will create safe and fair trading environments. To illustrate, earlier in January, DX.Exchange-a platform launching the trade of cryptocurrencies and tokenized traditional stocks-announced so it uses Nasdaq’s Financial Information Exchange (FIX) in their operations.