Swiss financial services giant UBS Group may not be a fan of bitcoin but CEO Sergio Ermotti believes blockchain, the technology behind cryptocurrencies, is "definitely an opportunity" in the long term.
"It's almost a must. The freeing up of resources to become more efficient will come through technology and blockchain is a great way to allow us to … reduce costs," Ermotti told CNBC's Michelle Caruso-Cabrera on Monday.
Blockchain allows data to be stored across a network of computers around the world rather than at one single location.
He's convinced that the technology "will be as crucial and disruptive, and changing as regulation was in the last 10 years."
Lees hier verder
Reactie plaatsen
Reacties