U.S. Mutual Fund VP Believes Blockchain Will Help ‘Drive This Next Industrial Revolution’
In an interview on CNBC Friday, Steve Chiavarone, a VP at financial services company Federated Investors which manages $392.2 billion in assets, made optimistic comments regarding blockchain technology as an “economic growth driver.”
While expanding on this topic, Chiavarone touched on the increased efficiency and automatization the blockchain offers, saying:
“When you think about it from an enterprise perspective, it has the ability to replace reconciliation, which is expensive and requires back-office and time and paperwork with more instantaneous verification [...] that will allow cost to be cut and that savings [sic] to be passed along.”
Chiavarone ranked blockchain in the top five “key technologies” that will “drive this next industrial revolution,” along with automation, robotics, AI and the Internet of things (IoT).