Two things have caught my eye more than anything else these past few days in the world of finance.
One seems to have mysteriously slipped under radar of mainstream news, but the other has taken more than its fair share of the headlines.
Coin Rivet reported how US stock exchange Nasdaq had held several secret (although not so secret that we didn’t find out about them) meetings with some leading cryptocurrency providers.
https://coinrivet.com/nasdaq-holds-secret-meetings-with-crypto-exchange-representatives/
I’ve been pretty amazed at how low this story has been flying, given the enormous significance of what it might mean for the blockchain and cryptocurrency space that we occupy.
Essentially, this means the Nasdaq – headed up by the superb Adena Friedman who became one of the most powerful women in finance when appointed CEO last year – have underlined some previous hints they made a few months ago that cryptocurrency has a seat reserved around the global exchange table.
Friedman made it quite clear a few months ago that Nasdaq was ready to embrace emerging technology and new ways of using currency, even going as far as to say “Nasdaq would consider becoming a crypto exchange over time”. But no one anticipated behind-closed-doors meetings just a few months later.
At best, there were timid nods of approval about the rhetoric used, coupled with the eyebrows-raised suggestion that Friedman was simply just acknowledging the presence of cryptocurrencies and was quietly hoping they would go away as she marked her territory after only being in the job for a year.
Well, it turns out that she was entirely serious. And not just serious, she was actually getting on with it. What a woman!
The significance of this story must not be played down. It is, without exaggeration, a massive step forward for cryptocurrency and its acceptance throughout the world. To have Adena Friedman chairing clandestine meetings with crypto-leaders is beyond the wildest dreams of many who operate within this sphere. On top of that, if and when Nasdaq fully embrace the tech, Friedman will be quickly catapulted to the upper echelons of Women In Blockchain!
Quite why the mainstream media have been unable to report this is, frankly, curious and sends up a distress signal in my mind that says much of the world still simply cannot get its head around the subject matter. Luckily, I’ve devised a series of easy-to-use guides that even the stuffy old newspaper magnates would understand – https://coinrivet.com/how-to-guides/
Which brings me to the other story that both caught my eye and delighted me… the UK economy.
When Mark Carney announced an interest rate rise it was met with a few groans of disapproval from certain quarters – particularly the Institute of Directors who said the Bank of England had jumped the gun and should be more cautious with quarterly review rises.
But set Carney’s move to the backdrop of what’s going on in the business world, and you can see the context he’s putting it in – falling unemployment, increased household spending and a steady roadmap for rising economic growth.
Put all those pieces of the jigsaw together and you can see the bigger picture ahead – a picture coloured by growing business confidence. And the more confidence British business has, the more confidence it breeds amid our global partners which all means more outlay on cryptocurrency, more take up of blockchain, and further investment into the technology that will shape a brighter future.
Britannia – the old girl who adorns the Bank of England’s symbol – has been sat down for a long time. She’s getting out of her seat and preparing to walk tall like a diva again. Albeit a little gingerly. She might need a bit of ibuprofen here and there, but there’s no doubting she’s ready to rise again after she collapsed, exhausted, into that chair back in 2007.
Sheba Karamat
CEO, Coin Rivet
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.