The head of UBS is confident that blockchain will help the world to save money

How the blockchain will radically transform the economy | Bettina Warburg

The head of UBS is confident that blockchain will help the world to save money

Sergio Ermotti said this in an interview. Top manager is confident that blockchain is not a whim, but a necessity for business. 

In his opinion, with the help of technology, people will be able to rationally use resources, which will ultimately lead to the formation of savings. Ermotti noted that within the next 5–10 Years Blockchain Could Completely Transform Pricing.

In his speech, Sergio also noted that it is the use of technology that will allow the UBS team to remain in the top leaders: «Our industry will remain under pressure in terms of gross margins. The only way to stay relevant is not strength, product quality, customer status, but the ability to form the correct price».

The head of UBS is confident that blockchain will help the world to save money

Previously, UBS joined the Batavia blockchain community, in which its «neighbors» became IBM, Bank of Montreal, CaixaBank, Commerzbank and Erste Group.

Unfortunately, the development of the use of blockchain technologies in the banking sector seems to be somewhat slowed down. What is holding back the use of technology, we tell in our material. 

text: Evgeniya Likhodey, photo: Getty images