CEO of Swiss financial services giant UBS Group AG Ermotti Sergio (Sergio Ermotti) in an interview with CNBC stated that the blockchain “almost necessary” for business.

According to Ermotti, many innovative technologies are helping companies reduce the cost of certain operations, and the blockchain is a great way to optimize and improve efficiency.

“If we talk about gross profit, that our industry will undoubtedly continue to face pressure. Companies will be competitive, if they will not only be strong from the point of view of capital, product quality and workforce skills, but also be able to properly evaluate your product.”

Also, Ermotti suggested that the blockchain will become as “significant, revolutionary and transformative as the regulation in the last 10 years.” He stressed that the company focuses on the future and the blockchain will be “a great opportunity” in the long term.

CEO of UBS is not the first time comments positively on the blockchain at the same time, the cryptocurrency from skeptical. His opinion was shared by the chief investment officer UBS mark Hefele (Mark Haefele), which had previously said that the bitcoin blockchain will survive.

It is worth noting that UBS supports the blockchain not only in word but in deed. So in mid April, in cooperation with IBM, the holding company conducted a successful test of its blockchain platform Batavia.

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