Gary Cohn, the former Goldman Sachs executive, and Donald Trump’s Ex-Advisor is a big believer in Blockchain technology.
In an interview with CNBC’s Bob Pisani, Gary Cohn stated that he is not a big believer in Bitcoin but believes in the underlying technology behind Bitcoin which is Blockchain technology.
He made a prediction about the future of tech and told CNBC “I do think we will have a global cryptocurrency at some point.”
According to Gary Cohn, this cryptocurrency wouldn’t be “based on mining costs and costs of electricity and things like that,” and unlike Bitcoin, a currency which uses a lot of power to run its mechanism.
Cohn added, “It will be a more easily understood cryptocurrency that will probably have some blockchain technology behind it, but it will be much more easily understood how it’s created and how it moves and how people can use it.”
When asked Cohn was asked about Goldman Sachs decision to launch bitcoin futures he replied: “Look, they can do whatever they want and can do whatever’s in their shareholders’ best interest.”
Gary Cohn was appointed as the president and COO of Goldman Sachs on 2006 and remained in the position throughout the aftermath of the financial crisis.
When Donald Trump became the president in January 2017, Gary left Goldman Sachs to serve as the director of National Economic Council. He resigned from the National Economic Council on April 2nd, 2018.