Summary:
Swiss Financial Services Company UBS Says Blockchain Is “Almost A Must” For Businesses, Thousands Sign up; IBM To Tackle Ad Industry Advertisement Transparency Using Blockchain; Spanish Bank Group Develops Blockchain Platform To Identify Clients
Swiss Financial Services Company UBS Says Blockchain Is “Almost A Must” For Businesses
According to Coindesk, the CEO of Swiss financial services company UBS Group AG endorsed blockchain technology calling it “almost a must” for businesses.
Sergio Ermotti, UBS CEO, stated:
“Our industry will continue to be under pressure, in terms of gross margins. It’s no doubt. The only way you can stay relevant is not only by being strong in terms of capital, in terms of products, the quality of the people you have, advice you give to clients. You need also to be able to price it correctly… [blockchain] will be as crucial and disruptive, and changing as regulation was in the last 10 years.”
IBM To Tackle Ad Industry Advertisement Transparency Using Blockchain
According to Coindesk, IBM has teamed up with ad software provider Mediaocean to create a blockchain consortium aimed to solve big issues in the advertising world, such as increasing advertiser transparency.
The consortium has already signed up major brands such as Kelloggs, Kimberly-Clark, Pfizer, and Unilever, and will use blockchain technology to “provide transparency and build trust and accountability” in the advertising industry.
Bill Wise, CEO of Mediaocean, said:
“In recent years, … the industry has been plagued with unsustainable economics and transparency issues that hinder progress — particularly around intermediary fees and non-working media. By partnering with IBM, we’re able to launch the first advertising blockchain solution that will improve spend transparency — at scale. “
Spanish Bank Group Develops Blockchain Platform To Identify Clients
According to Coin Telegraph, a Spanish bank group will develop a blockchain platform for client digital identification verification. The group will create the platform by the end of 2018, and they believe that the new blockchain platform will improve the speed of operations, reduce fraud, and prevent money laundering.
The platform will also benefit clients because it will decrease the time required for the registration process and provide clients with complete control over their personal data. The platform will also allow clients’ data to be shared between different banks and financial institutions.