[2015-04-03] UBS to Open Blockchain Innovation Lab in London

[redsn0w]

Giant Swiss bank UBS is planning to investigate blockchain technology in a new innovation lab based in London, FInextra reports. The innovation lab, located in Level39’s high growth space, HighGrowth:42, will explore the role of blockchain technology in financial services.

UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, Switzerland, provides investment banking, asset management and wealth management services for private, corporate, and institutional clients worldwide. Operating in more than 50 countries with about 60,000 employees around the world, UBS is the biggest Swiss bank and is considered as the world’s largest manager of private wealth assets, with more than 2.2 trillion Swiss francs (CHF) in invested assets.

Established by Canary Wharf Group plc, Level39 is Europe’s largest technology accelerator space for finance, cyber-securities, retail and future cities technology companies. Six months after launching in March 2013, Level39 opened the High Growth Space: 42 on the 42nd floor of One Canada Square.

“By establishing a dedicated innovation lab at Level 39 we are moving away from a purely in-house innovation strategy, optimizing collaboration opportunities with the growing FinTech business, startup and investor community in an open and transparent way,” said UBS Group CIO Oliver Bussmann. “Our innovation lab at Level39 will provide a unique platform to explore emerging technologies such as blockchain and cryptocurrencies, and to understand the potential impact for the industry.”

“The UBS team have already established their credentials at Level39 over the last two years through mentoring alongside other leading experts at various accelerator programs,” said Eric Van der Kleij, Head of Level39, Canary Wharf Group. “Oliver Bussmann’s bold public statements and vision about the future of finance show that UBS is an organization that is genuinely determined to transform and thrive in a new world of finance.”


https://bitcoinmagazine.com/19864/ubs-open-blockchain-innovation-lab-london/

[pitham1]

I am glad it is a Swiss bank which is exploring Blockchain innovation. The Swiss have for decades been known for the secrecy of customer data that they maintain.
Of course, before leaping into the possibilities of Blockchain, they should start accepting Bitcoin deposits. That doesn't seem to be happening. 

[Carlton Banks]

What are their credentials when it comes to this field of expertise? I'm guessing "none"

[Denker]

I'm pretty sure they are also looking for a centralized solution, something like ripple or other crap.

[Undermood]

Good news! Bitcoin are paid more and more attentions by the financial institutions. They are investigating it and maybe integrate with their business. This will be their new unexploited field, which is innovative and future revenue resource.

[Denker]

Good news! Bitcoin are paid more and more attentions by the financial institutions. They are investigating it and maybe integrate with their business. This will be their new unexploited field, which is innovative and future revenue resource.

I wish it would be like that but I doubt it to be honest. In the articles it is often written that these institions and companies are exploring "Blockchain technology". This is not Bitcoin.It seems they are looking for their own closed solution with full controll over it, meaning centralized.