This week Adena Friedman, the CEO of Nasdaq, gave her blessing to the idea of trading in cryptocurrency. Let's be clear, the Nasdaq is not trading in cryptocurrency yet, but the idea that the second largest stock exchange in the world has a positive outlook on crypto is a substantial boost to the idea of digital currency.
This is in sharp contrast to organizations like Google, Facebook and Twitter that have set up blanket bans on any advertising dealing with cryptocurrency feeding into a singular narrative that cryptocurrencies are “new threats”.
Of course this often includes blockchain which goes hand in hand with cryptocurrency.
Even comedian John Oliver, the host of HBO's show Last Week Tonight, has something to say about cryptocurrency. In his 25-minute rant from early March, he seems to be more fearful than not, but at least he tries to explain the technology behind digital currency and instead of calling for a ban, he urges more caution.
While certainly there are bad players inside of the cryptocurrency space, legitimate organizations have created new methods of payment that have taken hold across the world while introducing technologies like blockchain, which has been widely adopted beyond its initial use in cryptocurrency.
The Nasdaq is not limiting its interest in cryptocurrencies to mere words.
It recently announced it is working with cryptocurrency exchange Gemini and have partnered with ETF firm, Reality Shares, to launch two blockchain-related funds. The Nasdaq is not the only one spending time and resources exploring how to use cryptocurrency. Major global banks like Citi, Credit Suisse, and UBS are working on digital currency projects and are finding ways to integrate this new technology into their current operations.
Smart organizations are preparing for a future where cryptocurrency is an important part of how we understand value, hold value and create value.
Shouldn't all of us be doing the same thing? Don't let your narrative on cryptocurrency be ruled by words like “fear” and “threats”. Balance your understanding with how it is changing the world and the possibilities it has to make it better. When confronted by something that is disrupting the normal way things are done, it's better to understand it before you are left behind.
Joseph Christian writes for the Alpha Token Foundation which is dedicated to using blockchain-powered technology and cryptocurrency to build a transparent and secure digital ecosystem where content consumers, creators and advertisers can receive the fair value of their digital assets.