Goldman Sachs: Blockchain Tech Could Save Capital Markets $6 Billion a Year
A new report from Goldman Sachs Investment Research projects that the implementation of blockchain technology could streamline the clearing and settlement of cash securities, saving capital markets $2bn in the US and $6bn globally on an annual basis. The figures are supported by breakdowns of the specific market areas where Goldman Sachs sees the technology as valuable, as it projects up to $900m could be saved in reduced personnel and $700m could be saved from IT systems improvements. The report indicated that this projection is further limited to cash securities – specifically, equities,....
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While Goldman Sachs expects private or “permissioned” blockchains to dominate most commercial applications according to its recent research report, the banking giant admitted that Bitcoin is an “ideal vehicle” for public transactions between individuals who don’t know each other.” ‘Fundamentally New Type of Database’. A new “Profiles in Innovation”....
Goldman Sachs Group Inc. has joined the blockchain-based network created by JPMorgan Chase & Co. for repurchase agreements that use smart contracts and a digitized version of the U.S. doll Goldman Sachs On JPMorgan’s Blockchain In an interview with Bloomberg, Mathew McDermott, global head of digital assets for Goldman Sachs’ global markets group, verified the […]
Global investment bank Goldman Sachs is reportedly predicting that the price of ether could rise to $8,000 by year-end. The bank’s analysts explained that cryptocurrencies have traded in line with inflation breakevens since 2019.
Ether Could Reach $8K by Year-End, According to Goldman Sachs
Goldman Sachs has reportedly explained in a research note circulated by the bank’s managing director of Global Markets, Bernhard Rzymelka, that the price of ether (ETH) could hit $8,000 by year-end. The note details that cryptocurrencies have traded in line with inflation....
As far as the official explanation for this round of job cuts goes, Goldman Sachs blames the harsh environment since the financial crisis. Our society is going through some very difficult economic times right now. Banks and financial institutions are axing jobs left and right. Goldman Sachs will cut nearly 30% of their Asian investment jobs over the next few years. Slow growth, and the emergence of alternative finance are two driving factors for this decision. Interestingly enough, the majority of jobs will be cut in regions where Bitcoin is thriving. Goldman Sachs Struggles In Asia. The....
Goldman Sachs has reportedly agreed to settle with the U.S. government over its role in a corrupt Malaysian government investment fund, which is one of the firm’s worst scandals since the financial crisis. In addition, Goldman Sachs previously agreed to pay the Malaysian government billions of dollars to end a criminal probe. Goldman Sachs’ Billions of Dollars in Settlement Goldman Sachs Group Inc. has agreed to pay about $2.8 billion to the U.S. Department of Justice (DOJ) to settle a case involving a corrupt Malaysian government investment fund, the Wall Street Journal....