One of the world's leading investment banks, Goldman Sachs, is seeking a new Vice President for the London-based Digital Assets' division.
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According to the job post, the VP will be tasked with defining and implementing Goldman Sachs' distributed ledger and blockchain technology strategy, "including any potential initiatives in the cryptocurrency space."
One of the requirements for a new employee is belief in the potential of blockchain and digital assets.
Matthew McDermott, who was formerly in charge of internal finance for Goldman Sachs, was named Head of Digital Assets. McDermott is confident that the future of global financial markets is directly related to the blockchain.
He also says he plans to digitize the repo market, the daily turnover of which usually exceeds $1 trillion in the first place.
According to McDermott, currently there are many outdated processes that lead to an increase in the cost of operations, and their standardization on the blockchain will increase the efficiency of the entire system.
Moreover, McDermott wants to integrate the distributed ledger technology into the credit and mortgage markets, and hinted at the possibility of cooperation in this direction with JPMorgan.
The well-known investment bank knows better than anyone else that the crypto/blockchain markets have enormous financial potential as it repeatedly noticed the brain drain to crypto startups.
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