Goldman Sachs predicts an explosion in blockchain transactions by 2025, ushering in a new financial era
Goldman Sachs predicts a surge in blockchain transactions by 2025, driven by growing adoption of the technology. Mathew McDermott, global head of digital assets at Goldman Sachs, says the market for blockchain-based asset transactions will see significant growth in the coming years.
McDermott highlights the growing appetite for digital assets, indicating an upward trend since the start of 2023. This speaks to market participants' growing confidence in blockchain and paves the way for wider adoption.
However, McDermott acknowledges that the blockchain market is still small compared to traditional assets such as bonds or gold. Although on an upward trajectory, the blockchain industry still has a long way to go.
The approval of spot Bitcoin ETFs is seen as a potential growth catalyst for the blockchain market. McDermott believes that interest in a Bitcoin ETF could attract new institutional investors to the asset class. However, the approval of ETFs depends on the decision of the United States Securities and Exchange Commission (SEC).
McDermott's optimism towards blockchain points to a period of major transformation for the financial sector, with digital asset trading significantly expanding. This speaks to the immense potential of blockchain technology and its growing role in redefining global financial markets.
