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GOLDMAN SACHS: BLOCKCHAIN IS THE NEXT GREAT INVENTION AFTER THE INTERNET!



 In a research report by one of the largest banks in the world, Goldman Sachs, the importance of the blockchain is reported. According to analysts at the investment bank, the blockchain is the next great invention after the internet. In the future, the areas of application should go far beyond cryptocurrencies.

Goldman Sachs crypto-friendly

The US-based investment bank Goldman Sachs is one of the largest banks in the US and around the world. Goldman Sachs had total assets of $ 2.1 trillion under management and sales of $ 44.6 billion in 2020.

In March of this year, the news hit the crypto world that Goldman Sachs was working to make it possible to buy Bitcoin. Less than two months later, trading in crypto futures, i.e. not real Bitcoin, was made possible.

In August 2021 , the investment bank even planned to develop its own cryptocurrency. This will be a stable coin. However, progress is still limited.

Blockchain the next big thing

In a report published by Goldman Sachs, the analysts describe the blockchain as the next great invention after the Internet. The investment bank particularly emphasizes the storage and transfer of digital data and objects, which can be carried out without the aid of a central authority.

According to the bank's analysts, the blockchain is just in its infancy. The first hype of the blockchain was in 2017 when cryptocurrencies came more and more into the focus of banks and investors. The more the system matures, the more widespread the blockchain will be. There are currently still obstacles to overcome:

The report explains:

The impact on investments is difficult to predict at this point, but companies that depend on centralized control of user identity are likely to see their business models challenged by the introduction of blockchain. 

The future of the metaverse

The blockchain continues to play an indispensable role in the Metaverse. The metaverse summarizes the two terms "virtual reality (VR)" and "augmented reality (AR)". Many experts assume that the Metaverse will definitely have a very high priority in the technological field in the future.

The Metaverse has also already established itself in the field of cryptocurrencies. In an article that has already been published, we have already analyzed the top 5 Metaverse Coins for you. In principle, the currencies are based on the Metaverse platform as a means of payment. The user can expand his virtual property with NFTs.

The CEO of the game company Epic Games also has a lot of confidence in the Metaverse. According to him, the Metaverse is the next multi-trillion-dollar opportunity. The maturation of these digital functions can create a whole new market and create new tech giants. Even Audi recognizes the potential of the metaverse and dives into the topic.

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