Leading investment banking giant Goldman Sachs is hiring a new vice chairman within the Digital Assets team in its Global Markets Division in London.
In line with a recent official job posting on the investment firm’s website, the new VP will work with the Digital Assets team in “defining and executing Goldman Sachs’DLT [Distributed Ledger Technology] & blockchain efforts firmwide, including any potential initiatives within the crypto ecosystem.” The role requires that any applicants be able to identify opportunities where blockchain & DLT digital assets can add value.
The present global head of digital assets for Goldman Sachs is Mathew McDermott, that assumed the role on 6th Aug.
Proactive Approach Towards CryptoCurrency Assets
The recent addition of McDermott and therefore the call for fresh blood indicates Goldman Sachs is taking a more proactive approach towards cryptocurrency assets in uncertain economic times.
McDermott said within his recent interview on 6th Aug with CNBC that the firm is “exploring the commercial viability of making a fiat digital token,” purportedly a stablecoin pegged to the USD.
“In subsequent 5 to 10 years, you’ll see a economic system where all assets & liabilities are native to a blockchain, with all transactions natively happening on chain.”
The strengthening of the digital assets team comes after an investors’ call in May, within which Goldman Sachs analysts argued that Bitcoin [BTC] lacked legitimacy, provided no income, didn’t offer diversification and hadn’t shown any evidence of being an inflation hedge.