Investor from Wall Street: the blockchain will lead to the next industrial revolution

The asset manager of the one largest investment funds, Wall Street sees in the blockchain a huge potential and advises to invest in companies that somehow work with the blockchain.

Steve Chiavarone, portfolio manager at the investment company Federated Investors, which manages assets for $ 364 billion, considers the blockchain as one of the key technologies that will lead the next industrial revolution.

“This will be one of the five key technologies – along with automation, robotics, artificial intelligence and the Internet things – which will push the arrival of another industrial revolution,” Chiavarone said in a conversation with CNBC.

According to him, investors are primarily interested in blockchain, not cryptocurrencies. “Many investors first rushed into bitcoin, because this was the first way to come in contact with the blockchain.”

He also recalled that the world’s largest banks are conducting research and development in the field of blockchain services. “Large banks are investing heavily in this. The Bank of America boasted in Davos earlier this year that they are investing more than others.”

Chiavarone explained that blockchain allow to reduce costs for back-offices, reducing staff and improving the efficiency of supply chains.

According to the investor, investments in companies that either work in the field of computing power, or plan to introduce blockchain into their work, should be considered an intelligent investment strategy. Source: coinfox.ru

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