Tease, tease, tease. That’s what Fidelity is doing. At a recent conference in Boston, Fidelity’s CEO Abigail Johnson hinted (or teased) that there may be some big announcements on new blockchain and cryptocurrency related products coming from the company. It is no secret that Ms. Johnson is a big supporter of bitcoin and digital currencies. She even had/has a bitcoin mining project which, even surprising to her, was/is highly profitable. Fidelity has been working on several different applications that could be introduced to its clients. Some may well be rolled out in the next few months. Fidelity sure sees the future. Stay tuned and read on.
(Bill Taylor/Fintek Capital)
“Speaking at the 2018 edition of Boston Fintech Week, CEO of investment firm Fidelity Investments, Abigail Johnson, revealed Friday that a team at Fidelity are working on certain blockchain and cryptocurrency related products and services. The details of the products might be announced by the end of 2018.
“We’ve got a few things underway, a few things that are partially done but also kind of on the shelf because it’s not really the right time,” Johnson said, in a conversation with Sarah Biller, cofounder of FinTech Sandbox, Xconomy reported. “We hope to have some things to announce by the end of the year,” Johnson added.
Fidelity has tried and tested this emerging technology without being skeptical of the outcome. Johnson said that they started with building a long list of use cases for anything they came across in this space like the then-potentially-raw blockchain technology, or cryptocurrencies like bitcoin and ethereum.
“Most of them [use cases] have been scrapped by now or at least put on the shelf. The things that actually survived were not the things I think necessarily we expected. We were trying to listen to the marketplace and anticipate what would make sense,” Johnson recalled…”