Goldman Sachs Developing a Secret Cryptocurrency
Goldman Sachs, one of the oldest firms on Wall Street, is looking to compete with their rival JP Morgan. It was revealed on 2019-07-10 that Goldman Sachs is looking to employ an individual to design a crypto coin for the brokerage, this employee must work at a fast pace and have considerable experience in the industry. The official title for this new listing is “Seeking a Digital Asset Project Manager”.
Goldman Sachs has made this listing public. It reads as the following: “Develop comprehensive road maps for distributed ledger technology DLT development. Foster a deep understanding of relevant products, technology, and markets. Maintain and iterate a complex project planning document with multiple stakeholders.”
The Digital Asset Project
The employment listing hasn’t indicated any details as to what the digital asset project will entail. It’s suspect that this project is classified through the Goldman Sachs Security Division. It is known that an internal unit, which will have to be selected by the new project managing, will work in a fast-paced environment that is aimed to develop cryptocurrency and FX products that can innovate the Goldman Sachs product line-up.
The listing reflects the urgency of this matter, which is a given, considering that JPMorgan will shortly be releasing the JPM Coin to global markets. The listing indicates that the employee will need to have extreme ambition and be willing to create brand new ideas for Goldman Sachs Crypto Coin that will benefit the financial firm for decades to come. The employment listing also indicates that whoever is hired will need to be proficient with digital assets, distributed ledger technology, financial regulations, blockchain and capital markets. Finding the perfect employee won’t be the most straightforward task for Goldman Sachs.
The Chief Executive Officer for Goldman Sachs, David Solomon, believes that the cryptocurrency payment system will affect financial markets worldwide. That stablecoins are the way of the future, and that Crypto will become widely available in the next decade. Goldman Sachs isn’t the only financial firm on Wall Street that’s looking to enter the stablecoin markets; every firm is looking to compete against the JPM Coin.