Goldman Sachs former President Gary Cohn expressed his opinions on bitcoin and blockchain tech in general in an interview with CNBC. Cohn says that he is not a “big believer” in bitcoin. He is, however, a believer in blockchain technology.
Cohn believes that the world would have a global cryptocurrency; it just won’t be bitcoin:
“I do think we will have a global cryptocurrency at some point where the world understands it and it’s not based on mining costs or costs of electricity or things like that.”
A big problem with bitcoin today is that not a lot of people truly understand how it works. The global cryptocurrency that Cohn has in mind will be much less complex than the original cryptocurrency.
“It will be a more understood cryptocurrency. It will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created, how it moves and how people can use it.”