David Solomon, CEO of Goldman Sachs, believes blockchain is more important than Bitcoin – Blockchain

David Solomon, CEO of Goldman Sachs, one of the world's leading banking institutions, has expressed his opinion on the dilemma between Bitcoin and blockchain. For Solomon, Bitcoin is not as important as the technological advances that the implementation of blockchain and other new ledger-based tools can bring to the traditional financial world. The executive further stated that he does not personally own Bitcoin or Ethereum.

Goldman Sachs CEO on Bitcoin

David Solomon, CEO of one of the world's largest banks, Goldman Sachs, has stated that Bitcoin is less important to him than the technology behind it. The executive made these statements in a interview on CNBC's Squawkbox on Tuesday. When asked about his views on crypto, Solomon replied:

My opinion on Bitcoin, for example, is, I really don't know, but it's really not something that I care about individually.

Additionally, he argued that Bitcoin's true value lies in its technology, blockchain, and how it can influence the future of finance. Solomon explained that he is a “big believer” in the disruption these technologies are causing and that Goldman Sachs is also trying to be part of this revolution through its service app.

Solomon: “Bitcoin is not the most important thing”

Solomon also explained that he believes Bitcoin is non-essential from the banking industry perspective and that the influence of new technologies that Bitcoin and other cryptocurrencies have brought has been key to modernizing current banking platforms. Solomon emphasized:

I think Bitcoin is really not the most important thing. What matters is how blockchain or other technologies that are not yet developed can accelerate the digitalization of financial service delivery.

However, he explained that as a speculative asset, it was important for Goldman Sachs to offer Bitcoin to its customers to let them bet on the currency's market behavior.

Last year, Bitcoin (BTC) has been confirmed as a valid asset by several major banking institutions, including JPMorgan, which has criticized the true utility of the Bitcoin proposal several times in the past. The bank began offering its customers access to cryptocurrency assets earlier this year. The criticism its CEO Jamie Dimon, who said Bitcoin is worthless has not affected the Bank's ability to offer this type of service to its customers.

What do you think of David Solomon’s “blockchain instead of Bitcoin” approach? Tell us in the comments section below.

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