The SVP of Fidelity Labs made it clear that governments must embrace Blockchain as something that is here to stay, comparing banning cryptocurrencies to banning the web.
It’s no secret that Fidelity is beginning to jump on the cryptocurrency bandwagon. Recent statements by the CEO, as well as the addition of a cryptocurrency holdings partnership with Coinbase, have made the investment house the frontrunner among pro-cryptocurrency institutions.
The $2.3 tln investment giant has added cryptocurrencies as a service to investors, but questions still remained regarding the company’s views.
Hadley Stern excited about the Blockchain
A recent interview with the SVP Hadley Stern revealed more of Fidelity’s notion of where the investment market is moving in light of cryptocurrencies and the Blockchain.
Stern is responsible for running the Blockchain incubator at Fidelity and believes that trying to imagine the future of Blockchain technology is like trying to conceive of Facebook or Google on the first day the Internet browser was invented.
He said:
“I do think [cryptocurrencies] will make things, whether it's Bitcoin or something else, faster and cheaper and create new products and services that we can't even imagine.”
The frontrunner among investment houses, Fidelity joins a long list of hedge funds and market analysts who have seen cryptocurrencies as a good bet for investment.
As Bitcoin price continues to skyrocket, those investors who refuse to consider Bitcoin are being left in the dust.
It may be that the ‘bubble’ is actually the start of mainstream acceptance by a broader swath of the public.
Too big to ban
Stern also made it clear that governments must embrace Blockchain as something that is here to stay, comparing banning cryptocurrencies to banning the web.
The technology is here to stay and attempting to ban or control it is futile, according to the VP.
Stern concluded the interview by expressing his opinion that the power of Blockchain technology will “change the world.”
His comments reflect the buoyant mood among Blockchain enthusiasts and crypto fans alike, especially as the concerns regarding SegWit and Bitcoin have subsided.
Michael Fisher, the tech analyst, agrees, posting ‘Blockchain for Everything’ via Twitter:
What are some industries where #blockchain would be useful?
✔️ #voting#CyberSecurity #HealthIT #education #Insurtech #Retail #SupplyChain pic.twitter.com/Mda9IkSXfx
— Michael Fisher (@Fisher85M) August 12, 2017
