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Active Blockchain Investors, Google & GoldmanSachs........Turning Towards Bitcoin

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In a recent research study conducted by Citi Bank Insights, it has been revealed that Goldman Sachs and Google, top among five active Blockchain Investors  has recently shifted base to Bitcoin.

Google has been focusing on the development of decentralized applications and Public Blockchain network  since 2012 which with investment in Blockchain startups, Storj, LedgerX, Ripple, Veem and Buttercoin. On the other hand, Goldman Sachs has zeroed on Axoni, Digital Asset Holdings, R3 and Circle funding projects which have been powering up the development of permissioned ledgers and enterprise-grade blockchain.

Goldman Sachs and Google started their shifting activities from Blockchain to Bitcoin early 2017 after struggling with the minimal progress made with commercialization of centralized blockchain platforms and permissioned ledgers. Google has proceeded with $100 million Series C funding round of Bitcoin wallet and cryptocurrency exchange platform worth $1.6 billion as well as blockchain’s funding round worth $40 million.

Goldman Sachs has also thrown light on its long term strategy of infiltrating the cryptocurrency exchange market for establishing direct contact with public blockchain networks like that of Bitcoin. Paul Vigna of Wall Street Journal recently wrote that, “Goldman’s effort involves both its currency-trading division and the bank’s strategic investment group, the people said. That suggests the firm believes bitcoin’s future is more as a payment method rather than a store of value, like gold.”

Goldman Sach’s plans of launching a cryptocurrency exchange along with the Wall Street Journal in coming days have been confirmed by an employee of the company. The spokeswoman also affirmed that the firm is currently investing in active methods for serving global investors and cryptocurrency market in the traditional finance segment who are hoping to invest in this dynamic crypto form. The spokeswoman added, “In response to client interest in digital currencies we are exploring how best to serve them in this space.”

Starting from 2016, Blockchain sector has been showered with billions of dollars with the aim of commercializing Blockchain Technology or more specifically the enterprise-grade permissioned ledgers. Blockchain consortia such as R3, Hyperledger and Axoni have set the vision of creating permissioned blockchain networks which can settle greater number of transactions or data points per second when compared to public blockchains. 

Vitalik Buterin, the co-founder of Ethereum explained during the 2017 conference of Disrupt SF hosted by TechCrunch that public blockchains like Ethereum and Bitcoin can process a maximum of eight transactions per second. Such data processing rate is insufficient for large-scale conglomerates, specifically those companies which intent to implement Blockchain Technology in powering up financial operations. He was quoted as saying:

“Bitcoin is currently processing a bit less than three transactions per second, and if it goes close to four, it is already at peak capacity. Ethereum has been doing five per second, and if it goes above six, then it is also at peak capacity. On the other hand, Uber on average does 12 rides per second, PayPal several hundred, Visa several thousand, major stock exchanges tens of thousands, and in IoT, you’re talking hundreds of thousands per second.”

Vitalik Buterin also shared some of his good insights and gave a highlight of the future plans regarding Ethereum in the same TechCrunch Conference. He believes, Ethereum Blockchain Technology will soon compete with Visa

For providing the infrastructure required for such bigshot conglomerates, permissioned ledger developers need to reach scalability at par with Visa or at least make sure than transactions processed per second gets hiked up to a thousand. With 2017 coming to an end, most of the software development firms are usually repeating their 2016 end statements. Lev Khasis, the First Deputy Chairman of Sberbank’s Executive Board is optimistic that the Blockchain Sector will soon reach its full potential. However several investors like Goldman Sachs and Google are becoming all the more impatient thus shifting over to Bitcoin and other forms of crypto market offerings.


Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!



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