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Tech Talk
Blockchain will power 'the back office of the world' in 5 to 10 years
DBS Bank CEO Piyush Gupta cuts through the crypto-blockchain mumbo jumbo, and explains why he bought Bitcoin, which could provide a store of value like gold.
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Beneath the speculative froth that led to the crypto meltdown in recent months, the blockchain train underpinning cryptocurrencies is still chugging along.
In a candid interview with The Straits Times, DBS Bank chief executive officer Piyush Gupta said the bank spends about $600 million a year - half of its total tech budget - on experimenting with new technologies, including blockchain and artificial intelligence, as it prepares for a disrupted future.
