#UBS

Add 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.

UBS has said that cryptocurrencies like bitcoin are a ‘speculative bubble’ and are unlikely to become a mainstream currency. Yet, it believes the blockchain may have a ‘significant impact’ on many industries. In a white paper titled ‘ Crypt

While fintech has the capacity to disrupt established business models and improve productivity and profitability, its impact on banks is hard to predict. Hence, financial institutions with thousands of employees are wary of investing in tec