"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."
Sergio Ermotti, CEO of the Swiss financial services provider UBS Group, speaking about the potential of blockchain technology in the financial services industry as a means of easy price discovery, and about how prioritizing the application of blockchain technology will ensure that UBS remains competitive.