CEO of Lazard: cryptocurrency could replace the dollar

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Ken Jacobs, CEO of Lazard, recently gave an interview at Bloomberg. Lazard director – a leading investment and asset management financial group with nearly 250 billion assets – was asked about the risks and opportunities of the USA. He shared his vision on the current and upcoming situation.

The only risk is the economic overheating, initially, which remains highly unlikely as inflation is controlled so far.

In the medium and long-term, some issues need to be taken into consideration, all of which greatly affect the success of the United States. He recalled that during the last decade, the three major pillars were:

– the demography of the country which is running out of steam

– soft power based on diplomacy and multilateral relations

– the rule of law.

It is on the second keypoint that Ken Jacobs lingers and mentions the possibility of the emergence of a new currency.
If the soft power has been so beneficial lately, it is because the dollar is for a lot. But this currency is recently subject to the temptation of various countries to compete with it. “It will not happen soon and it is not possible,” he continues, as other currencies are still too weak.

Nevertheless, emerging technologies such as cryptocurrencies could eventually become an alternative. This, in turn, would greatly affect the economy of the country as a whole.

Bloomberg

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