UBS CEO: Blockchain is the future of traditional banking, and integration is inevitable. UBS Group CEO Sergio Ermotti said this week at the World Economic Forum in Davos, Switzerland, that blockchain is the future of traditional banking and that the two will merge. In 2018, he stated that blockchain was almost a prerequisite for companies to remain competitive, and now asserts that integration is inevitable. He predicted at the time that blockchain would change the industry's cost structure within 5-10 years, and that timeline is approaching. Ermotti's comments are consistent with the views of Fidelity CEO Abigail Johnson. Johnson criticized the primitive and worrying underlying technology of traditional finance last December, saying that the existing system is a complex network of reconciliation processes built on primitive technology.
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Steak 'n Shake Announces Bitcoin Rewards for Employees, Requires Two Years of Service to Unlock.
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