The former National Economic Council director and COO of Goldman Sachs Gary Cohn has predicted the emergence of a new cryptocurrency “where the world understands it” in an interview to CNBC.

Assessing the fact his former company, Goldman Sachs, is starting a desk, facilitating bitcoin futures trading, Mr. Cohn noted “whatever’s in the shareholders’ best interests.” At the same time he expressed strong support for the blockchain technology.

“I am not a big believer in bitcoin. I am a big believer in the blockchain technology. We will have a global cryptocurrency at some point where the world understands it.”

At the same time, Mr. Cohn posits that this cryptocurrency will not be based “on cost of mining and electricity” and that “it will be more easily understood cryptocurrency and will probably have some blockchain technology behind it.”

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