Crypto is “Next Step in the Space of Currency” – Nasdaq CEO
Adena Friedman remains optimistic about the effects crypto will have on the world, as cryptocurrencies feel like the “right next step in the space of currency.” Although she says “jury is still out” on which coin will get to mass adoption. In her opinion, “a globalized payment mechanism” is the right step towards the cross-border digital economy.
The CEO of Nasdaq, the second-largest stock exchange in the world by market capitalization, spoke on the latest episode of the CNN podcast Boss Files.
“How it evolves and which of the cryptocurrencies may or may not be the one that ultimately gets embraced, I think that really the jury is still out on that. But I do think the idea of a more globalized payment mechanism that is more efficient than what we have today allows for money to transfer across countries and certainly supports the Internet economy,” she said.
At another point in the interview, she praised the pros of blockchain technology and its possible implementation, as it “takes a lot of risk out of the system and therefore it makes it so that the banks don’t have to be as capital intensive. And that’s a big incentive.” In her opinion, however, she does not expect changes to happen overnight: its gradual implementation will start in less regulated and/or less efficient markets.
“I think the technology is fascinating and it’s a very sound technology. It’s just a matter of making sure that the community is all embracing it together,” she concludes, pointing out that the way government regulators respond to the rise of the industry will shape its future.
In April, Friedman told CNBC that “Certainly Nasdaq would consider becoming a crypto exchange over time.”