Summary
- Goldman Sachs mentioned digital assets for the first time in its annual shareholder letter.
- The bank cited the adoption of new products including digital assets, distributed ledger technology, and artificial intelligence technology as factors intensifying industry competition.
- It warned that distributed ledger technology and digital assets are in early stages and may have cybersecurity risks and other potential vulnerabilities.
Global investment bank Goldman Sachs has mentioned digital assets (cryptocurrencies) for the first time in its annual shareholder letter.
According to The Block, a digital asset specialized media outlet, on the 14th (local time), Goldman Sachs stated, "Industry competition has intensified due to the growth of electronic trading and the adoption of new products and technologies, including digital assets, distributed ledger technology (DLT), and artificial intelligence (AI)," adding that "In some cases, competitors may offer digital asset-based financial products that we do not or may not provide."
The bank further warned that distributed ledger technology and digital assets are still in their early stages and may have cybersecurity risks and other potential vulnerabilities.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
