Recently, the top investment bank – Goldman Sachs, praised blockchain technology. Seriously, what is a greater joy than Goldman Sachs itself talking about the potential and innovativeness of the metaverse?
In fact, the bank stated that blockchain can “uniquely identify any virtual object independent of a central authority.” It went further to state that the technology allows for the “partial elimination of centralized control”
Goldman Sachs is all praise for Metaverse
As mentioned, the Wall Street Bank has now developed good faith in blockchain technology. Moreover, they referred to blockchain as the most important invention after the Internet. Plus, this big investment bank is exploring bitcoin-backed loans. Admittedly, it is quite a tremendous step and kudos to the bank for encouraging its customers to invest in crypto.
Besides, the bank believes that blockchain technology will lay the foundation for the third iteration of the Internet.
In addition, the bank added, that blockchain holds the key to the metaverse, which is also an intersection of virtual reality and the Internet. Evidently, the bank aims to offer trading options in Ethereum. Given that, Goldman Sachs has also invested millions of dollars in multiple crypto startups.
Following JP Morgan, Goldman Sachs is the second big investment bank to back cryptocurrency.
In conclusion, we are witnessing a great revolution towards a crypto-friendly universe. Several industries, from music to brands, are entering the metaverse at a good rate. All in all, the upcoming year holds a glorious future for the blockchain industry.