Almost two months ago Nasdaq’s representative Joseph Christinat confirmed the rumours that in 2019 the American stock exchange might launch BTC futures. This spurred a wave of bullish comments in the crypto-segment of media. Now Nasdaq has created another incentive for this as its president and top exec Adena Friedman has made supportive remarks regarding cyber coins.
Crypto As ‘Demonstration of Genius’
On January 20, Friedman posted a blog on LinkedIn, in which she emphasized the creative nature of the cryptocurrency invention. Moreover, the Nasdaq’s head expressed her support for the embrace of cyber assets in the economy.
In particular, Friedman wrote that virtual currency “deserves an opportunity to find a sustainable future in our economy.” Interestingly, this post appeared before Nasdaq’s CEO appeared at the World Economic Forum at Davos a few days ago.
Friedman assured in her account writing that bitcoin and its pals will have a place in the future, as well as described the artifice itself as «a tremendous demonstration of genius and creativity.”
Crypto’s Invention Lifecycle
To support her notion, Friedman also argued that cryptos have gone through a conventional «invention lifecycle.” Here are its stages, according to Nasdaq’s president:
- Dawn: the early way lead by crypto and economics pioneers
- Hype: increase of bitcoin and altcoins popularity in mainstream
- The spread of novel market entrants
- «Dose of reality» where bitcoin and its brethren stay at the crossroads
Thus, Friedman believes that cryptocurrency might see one of two upshots. One of them is that crypto as innovation is utilized practically and then there will be sustainable commercial progress related to it as well as the implementation of cryptos into the economy like once this occurred to the Internet.
The second possible outcome for cryptocurrency (more bearish though) is that it doesn’t see wide embrace. Furthermore, its commercial utilization as a means of exchange is restricted. To support this notion, Friedman provided an example of the Segway.
What Do Cryptos Need For the Bullish Outcome?
For bitcoin and its pals to become applicable in life more and have less volatile value, several things need to be done, believes Nasdaq’s CEO. Most importantly, it’s the regulatory and governance lucidity.
Friedman also suggested the entire crypto market should be transparent and equitable. For that, led-by-her exchange, she emphasized, has provided its internal technology to assist startup exchanges to invent and implement best experiences.
Nasdaq appears to be at the forefront of supporting cryptos. Not long ago, the exchange provided its SMARTS Market Surveillance Technology to top crypto actors. Among them, there is the Gemini platform, founded by crypto-bulls Winklevoss twins. This tech trend allows the exchange surveil fishy trade behaviour in order to stave off market speculation.