Former Morgan Stanley Executive Says Crypto Will Change the Financial System – Future of Money?
John Mack. Source: a video screenshot, David Rubenstein / YouTube John Mack, a former CEO at the major US-headquartered investment bank Morgan Stanley , suggests that bitcoin (BTC) and crypto may become a part of the increasingly digitized world of trading &ndash ; and many of us may live to see it. Talking to CNBC about whether Wall Street would become digitized in the future, Mack said that he does not think “it goes away,” but that it will change “dramatically.” “Take crypto. It’s hard for me to understand why does it have value,” he said and added: “So 50 years from now, maybe that will be a huge way that monetary transactions take place.” Crypto is easy to wire, Mack argued. As everything is online, people don’t need to worry about putting their money in banks, but “you got to make sure it’s insulated, protected, and no one can break into it,” he stated. That said, he went on to sugges...