Ex-Goldman Sachs president and former Trump consultant Gary Cohn believes in the possibilities of a global crypto currency. The Bitcoin, however, does not have this potential, it is too complicated for that. The former director of the National Economic Council told the American business channel CNBC this week.

The currently growing list of critical voices on Bitcoin formula will thus be extended by another well-known member

A worldwide crypto currency will come, as ex-Goldman-Sachs President Gary Cohn is sure in a conversation with CNBC on Tuesday. Equally certain, however, is that Bitcoin formula will not be able to achieve this goal: https://www.geldplus.net/en/bitcoin-formula-review/ He is simply too complicated for that. But a digital currency that is easier to understand could be used worldwide in the future.

“I believe we will get a global crypto currency if the world understands it and it is not based on mining or electricity costs or such things, so Cohn’s assessment.

“It will be easier to understand how the currency was created, how it works and how people can use it.”

However, this is not a rejection of blockchain technology. Rather, Cohn emphasized that a future crypto currency will probably also be supported by distributed ledger technology.

He doesn’t believe in Bitcoin, but he “believes in blockchain technology,” says Cohn, who led the fortunes of American investment giant Goldman Sachs from 2006 to 2017.

Cohn: From the White House to the crypto bank?
When asked about his old employer and his increasing involvement in the crypto industry, Cohn answered briefly:

“They should do what’s best for their shareholders.”

At the end of April, the leading US investment bank, Justin Schmidt, recruited its first trader directly from the crypto industry and thus rekindled speculation about entering the market with digital payment alternatives. Such had become loud last year. According to reports, the bank was planning its own trading department for crypto currencies, Goldman, on the other hand, is entering.

Unlike his old employer, however, he is considering setting up “a regulated bank for the digital world” himself, says 57-year-old Cohn.

“I have an idea for a company. It will be an interesting concept, drawing on my knowledge of the banking world.”

Last year, he left Wall Street and took up a White House post as director of the National Economic Council under President Trump. In March, however, he announced his resignation, probably in protest at the punitive tariffs Trump is imposing to fuel the domestic economy.

Cohn’s ex-colleague Mike Novogratz, among others, has already shown the way to the digital age. The former Goldman-Sachs employee currently runs his own crypto bank, Galaxy Digital.

Voices from the Bitcoin trader

In addition to Gary Cohn, numerous well-known Bitcoin trader figures of the institutional financial system with their assessments of crypto currencies are taking the floor these days. For example, Warren Buffet, Charlie Munger and Bill Gates, some of the biggest names in the investment world, have sharply criticized Bitcoin, ICOs and crypto currencies. Microsoft founder Gates, for example, would bet against Bitcoin “if it were easier,” the former richest man in the world told CNBC.

But more optimistic tones came last week from another former head of the Trump administration. In an interview with the New York Times, former Fed Governor and Trump consultant Kevin Warsh stressed the potential of crypto currencies for central banks. Nevertheless, more decisive research is needed so that crypto currencies can be used by central banks.