Allison Nathan, Goldman Sachs: cryptocurrencies lack practical application

Goldman Sachs’ Global Macro Research department strategist Alison Nathan believes that the world could have easily existed without cryptocurrencies. Yes, it’s useful in some parts of the planet where the local financial system and fiat currencies have failed to work, but overall this phenomenon does not solve any economic problem, insists one of the high-ranking analysts at this powerful American financial establishment.

She supports the idea of modern cryptocurrencies dying out and new versions standing in their place in the far future. This concept was first seen in a research paper by the same company and also voiced by Steven Strongin, one of the high-level experts in Goldman Sachs. Some altcoins are behaving like a single asset, which makes one think why they are separate assets in the first place, Mr. Strongin implied.

The leader of the company, as seen in older reports, is very skeptical towards Bitcoin, yet while talking on this topic last year, Lloyd Blankfein twice told that he wasn’t right about innovations in the past. He doesn’t believe something that can go upwards so quickly, and neither do his colleagues.