dd the CEO of Swiss banking giant UBS to the "blockchain not bitcoin" crowd.
In a new interview with CNBC this week, Sergio Ermotti expressed doubt about cryptocurrencies, stating that the role of the technology still "needs to be defined."
However, he was more bullish on private distributed ledger technologies, noting his company has already invested in a partnership with IBM to run international trade transactions on a blockchain.
He told CNBC:
"I believe there is a future for blockchain technology, and [that] technology will play a big role in changing and reshaping our industry."
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