Proactive Investors - Goldman Sachs (NYSE:GS) Group Inc could be preparing for a hiring drive in its growing blockchain division only one month after Goldman sacked around 3,200 staff members after being outfoxed by rival investment bank Morgan Stanley (NYSE:MS) in the last earnings season.
Head of digital assets Mathew McDermott said his division will hire “as appropriate” during a recent interview.
His comment came after Goldman Sachs’ GS DAP private blockchain network broke new ground by facilitating a green bond issuance worth HK$800mln (£84mln/US$102mln) as part of the Hong Kong government’s Green Bond Programme.
Financial secretary Paul Chan called it a “significant achievement” for Hong Kong, touting the blockchain’s speed, transparency and efficiency.
McDermott mirrored Chen’s comments, stating that GS DAP “allows investors to see more data, have more transparency, more accurate pricing on an asset, which will then encourage more liquidity and hopefully bring in more investors in the secondary market”.
Goldman’s digital asset team currently has around 70 team members.
Private blockchains like GS DAP differ from open platforms like Ethereum, Polygon and Avalanche in that only verified participants can use them. They are also highly centralised, with fewer nodes contributing to consensus and verification.