Nasdaq CEO: Cryptocurrencies are the ‘Right Next Step in the Space of Currency’

Adena Friedman

Speaking on the latest episode of CNN podcast “Boss Files”, Adena Friedman, CEO of Nasdaq gave an indication of her optimistic position regarding the future perspectives for cryptocurrencies. The famous businessperson and female inspirational figure mentioned that according to her perceptions, the use of cryptos could represent an evolution or at least an important innovation in the way traditional finance is handled.

“Do I think digital currency plays a role in the economy of the future? I think the answer is probably yes”

In a segment of the interview devoted exclusively to cryptos, the CEO of Nasdaq explained that despite the potential of a particular technology, in the end, the success will depend on the level of adoption. She said that it is not yet possible to determine which cryptocurrency will achieve such a milestone. However, she was emphatic in ensuring that cryptos are the “more efficient” mechanisms for payments and value transfer than traditional systems:

“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… It feels it’s the right step in the space of currency”.

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Previously, Adena Friedman had mentioned that she was considering the possibility of opening a crypto trading platform. A measure that, in addition to being innovative, contributed at the time to the increasing confidence in the market in the face of a bearish trend that was later reversed.

At the time, during an interview for CNBC, speaking about the need to regulate cryptos, MS Friedman said:

“I believe that digital currencies will continue to persist, it’s just a matter of how long it will take for that space to mature. Once you look at it and say, ‘do we want to provide a regulated market for this?’? Certainly, Nasdaq would consider it.”

Regarding the evolution of cryptocurrencies and blockchain technologies, Adena Friedman mentioned that it is very likely that the adoption will be done in a staggered manner, beginning with small or poorly regulated markets and then going on to touch global financial interests in strategic markets:

“The first uses of the blockchain will be in the less regulated markets, less efficient markets, more bespoke markets. Test it out, show that it works, demonstrate the efficiency in the Nasdaq private market or in the fund industry… It takes a village to make it work, but people are going to be highly motivated if we show that the use cases bring a lot of efficiencies.”

It should be noted that beyond the simple analysis, Nasdaq is known for having a strong interest in the development of blockchain technologies, with important support for companies such as Chain —a blockchain startup focused on providing APIs for DLTs— and the promotion of blockchain based ETFs.

Ms. Friedman concluded leaving the responsibility for the future of cryptos to governments and regulators: “Are the governments going to start to embrace it? Or are they still going to have it sit outside the realm of their oversight? That’s the real question that’s yet to be answered,”

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