United Nations agency boss sees a great deal of potential in blockchain

• The agency head in charge of the United Nations International Computing Center (UNICC) expressed a positive outlook on crypto at the World Economic Forum in Davos
• Bank of America head claims they are not missing out on cryptocurrencies during the Davos Forum

In an interview with CoinTelegraph, Sameer Chauhan, a former mainstream finance executive and the current head of the United Nations International Computing Center since 2018, expressed a pro-crypto view. Explaining how it is just like any other technology, Chauhan claimed that blockchain could be used to bear either positive or negative outcomes.

The use of crypto for good presents’ massive opportunities’

The UNICC boss noted how crypto could be used to bridge the digital divide already present as well as promote transparency if well leveraged. He also mentioned that the agency has adopted blockchain’s Distributed Ledger Technology (DLT) in some aspects of the UNICC ecosystem.

Sameer projected that crypto would be a crucial component in the future, defining how the world interacts and how people transact. He also pointed out how big institutions like the Bank of International Settlement are leveraging blockchain technology. 

He further highlighted the potential of central bank-backed virtual currencies, specifically bringing to the fore their potential to reduce inefficiencies associated with fiat.

Bank of America is not looking to adopt crypto any time soon

Not all institutions, however, share Chauhan’s belief in crypto. In a separate interview with Yahoo Finance, the Bank of America head Brian Moynihan revealed the banking giant was not looking to foray into crypto. 

Moynihan cited tough regulations preventing the bank from embracing digital assets. Giving a firm “NO” on if the bank intends to venture into the industry, the banker claimed that their bank was fully digital and didn’t need cryptocurrencies to offer modern financial services.

The BofA executive emphasised that the bank’s ultimate goal is to help clients have a successful financial life and this doesn’t necessarily imply crypto adoption. Moynihan disclosed that more than half of their clients already move money digitally and there is no pressing need to integrate crypto.

This contrasts with the route several Wall Street giants have taken on cryptos like Goldman Sachs and JPMorgan.

DraftKings is on a path to adopting crypto payments

Elsewhere, publicly listed fantasy sport and sports betting firm DraftKings has revealed plans to incorporate crypto support on its betting platform.  

DraftKings, which already has a firm footing in the NFT space, is working on introducing crypto support. This will allow users to stake bets using Bitcoin and also make payments on the app using the same.

[flexi-common-toolbar] [flexi-form class=”flexi_form_style” title=”Submit to Flexi” name=”my_form” ajax=”true”][flexi-form-tag type=”post_title” class=”fl-input” title=”Title” value=”” required=”true”][flexi-form-tag type=”category” title=”Select category”][flexi-form-tag type=”tag” title=”Insert tag”][flexi-form-tag type=”article” class=”fl-textarea” title=”Description” ][flexi-form-tag type=”file” title=”Select file” required=”true”][flexi-form-tag type=”submit” name=”submit” value=”Submit Now”] [/flexi-form]