Nasdaq CEO Calls Crypto "Great Demonstration of Engineering and Creativity"

On Sunday, January 20, just before the start of the World Economic Forum (WEF) in Davos, Adena Friedman, President and CEO of Nasdaq, described the invention of crypto as "a tremendous demonstration of genius and creativity ".

Nasdaq Inc., founded in 1971, is the owner of the Nasdaq Stock Exchange, which is the world's second largest stock exchange in terms of market capitalization, and Nasdaq Nordic (which represents subsidiaries in Denmark, Sweden, Norway and Australia). Iceland). ), the Nasdaq Baltic (which "represents a joint offering of the Nasdaq stock exchanges in Tallinn, Riga and Vilnius as well as the Nasdaq CSD") and "several American stock exchanges and options".

The Nasdaq CEO's comments on cryptocurrencies have been echoed as part of an article titled "New chapters on innovation and disruptions will be written in 2019," which she published. on his Linkedin account.

She began by saying that she could "see several trends that will continue to shape our markets and the broader economic landscape over the next year". This article focuses on his comments on one of these trends: crypto-currencies.

Here are the main highlights:

• "With several thousand crypto-rival currencies vying to attract investor attention, the world of" crypto "has gone through the first phase of the life cycle of a clbadic invention, marked by pioneers, followed by hype, followed by the proliferation of newcomers, then a dose of reality. "
• Either (1) "innovation finds practical utility followed by several years of steady and sustainable commercial progress and integration into the economic fabric (eg, the Internet)", or (2) "the invention fails to be widely adopted and its medium commercial trading applications are limited (eg, the Segway). "
• "The invention itself is a great demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future for our economy."
• "… governance and clarity of regulation are two of the essential ingredients for creating practical utility and more stable value – these two principles are antithetical to the original intent in as a decentralized and ungovernable world currency. "
• "… transparency and fairness are the keys to trust, and without some level of oversight and regulation, it is impossible to demonstrate a level of transparency and fairness that will foster trust. "
• "At Nasdaq, we are working to help encrypted currencies gain investor confidence by offering our technology for matching, clearing and trading integrity for early stage trading."
• "We have also invested in ErisX, an institutional marketplace for cash and forwards on cryptocurrency."
• "… digital currencies will play a role in the future", the degree of impact being determined by "the evolution of regulation and the wider adoption of institutions".

What was even more interesting was that the part of his essay dealing with cryptocurrencies was entitled "Cryptocurrencies could still be a world currency of the future".

It is worth mentioning that on April 25, 2018, the CEO of Nasdaq stated at CNBC's pre-market news and pre-market talk, "Squawk Box", the following about encryption:

"The Nasdaq would definitely consider becoming a cryptographic exchange over time.If we look at it, we say" it's time, people are ready for a more regulated market ", for something that provides fair experience to investors . "

"I think digital currencies will continue to persist, it's just a matter of time before this space matures." Once you've examined it, you've wondered if you want to create a regulated market. . " Nasdaq would certainly consider it. "

"ICOs need to be regulated, and the SEC is correct that they are securities that need to be regulated as such."

Finally, it should be recalled that on January 7, DX.Exchange, a new regulated European exchange of regulated cryptocurrency came into service. DX.Exchange, which has offices in Estonia and Israel, is unique because for the first time, you can now trade cryptocurrency (including XRP) and popular Nasdaq stocks (in the form of tokens), such as Apple, Facebook and Tesla, on. the same platform.

Featured image with the kind permission of Nasdaq