The Swiss banking bigwig UBS’ worldwide competition named the “Future of Finance Challenge” for the technology startups and the entrepreneurs is going to cover the blockchain applications and technologies, cryptocurrencies and digital vaults.
UBS will award a sum of $50,000 to the top performer with more than US$300,000 in total to be distributed. UBS has said that it will provide more than 300 hours of dedicated coaching and mentoring from experts to the winners.
Such competitions open gates for innovations in this field and also provide a gateway for budding entrepreneurs and it is also an excellent forum to showcase what blockchain and other disruptive technologies can do and how they can improve the transactional experience of the consumer.
UBS’ interest in the blockchain and the affiliated technologies is not new; the bank had earlier tested waters when it had announced that it will focus on the technology behind the peer-to-peer network Bitcoin in order to explore how blockchain can be utilized in the mainstream financial services.
During this announcement the bank had also said that its first investment in the blockchain research will help bring together technology