Goldman Sachs bullish about the blockchain

Announcements | December 4, 2015 By:

Goldman Sachs sent a note to clients entitled ‘Themes, Dreams and Flying Machines’ has deemed that the blockchain is “taking center stage” these days, noting that it is pulling the spotlight away from Bitcoin.

Goldman Sachs’ analyst and author of the note Robert D. Boroujerdi said, “blockchain is promising an ushering in of a new set of tools to cut costs and challenge the profit poll of the middle-man with a promise to make centralized institutions obsolete.”

Boroujerdi also stated some drawbacks with the radical new technology. The potential costs involved during the development and maintenance of the decentralized network is one. The other is a lack of a regulatory framework.

Boroujerdi contends the idea that the Blockchain has outgrown Bitcoin. “Bitcoin was just the opening act, with the Blockchain ready to take center stage,” Boroujerdi added.

Goldman Sachs is an American multinational investment banking firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients.