Softbank invests in blockchain technology but not in cryptocurrencies

Japanese investment firm Softbank was part of a funding round for FTX Trading, the owner of the cryptocurrency exchange FTX, chaired by billionaire Wizkid Sam Bankman Fried. But interest in the sector has stopped in the blockchain infrastructure. “We stayed away from the coins. We cannot quantify it, we cannot put a mathematical model on it ”. Softbank CEO Rajeev Misra said According to some forecasts, the blockchain market is expected to grow to around $ 40 billion by 2025, from its total of $ 3 billion in 2020. On the other hand, cryptocurrencies are sometimes wildly volatile and China's ban on crypto mining. and cryptocurrency transactions certainly didn't help.

The Misra company expects great growth in the fields of education technology and life sciences. He said: “A child in a small town in India or Africa can get an education from MIT or Stanford and this is happening and is accelerating. The fact that we are using genetic engineering and artificial intelligence to find a vaccine within six to seven months shows how investment in life sciences will accelerate to find a cure for many lifestyle diseases and vaccines. " Softbank is keen to invest in Europe, Latin America and the Middle East, where it believes there are attractive growth opportunities. However, of the Indian market Misra said it was "overheated" and that "valuations are high".