Steve Chiavarone, of Federated Investors, has declared today how he believes that blockchain will be one of the most determining technologies for the future of the industry on CNBC’s program “Trading Nation”.
Steve Chiavarone is vice president and Portfolio Manager of Federated Investors, a firm that specializes in offering managing services for investors. He has a long trajectory, with more than 10 years in the advising and investment strategy planning business. He has also contributed often to the Wall Street Journal and Bloomberg as a recurring guest.
Chiavarone stated that blockchain will be one of five key technologies that will unleash the next industrial revolution, the others being Artificial Intelligence, Automation, the Internet of Things and Robotics. Steve thinks that most of the use of blockchain technology will come from businesses that are part of a supply chain or platforms who benefit from a supply chain. For him, the true importance of this tech lies in the possible savings in time and money that its leverage might bring if it is implemented correctly. In this order of ideas he stated:
“COMPANIES CAN GET MORE EFFICIENT SUPPLY CHAINS, THEY CAN CUT THEIR MIDDLE AND BACK OFFICE COSTS, AND THAT WILL LET BUSINESS FLOW MORE EFFICIENTLY, ALLOWING COSTS TO BE CUT AND ALLOWING SAVINGS TO BE PASSED ALONG”
Steve thinks that actually, most people are buying cryptocurrencies because it was the first real application of blockchain, but that the future lies in the application and implementation of blockchain tech into the industrial space.
Steve’s way of thought seems to be in line with most of the executives in his line of work, but this kind of implementation of blockchain will only be achieved with a long-term approach; a survey made by Gartner earlier this month found that more than 75% of the industry has no interest in implementing any blockchain based application to their operations in the near future.