Oliver Bussman, the former CIO of UBS, a $3 trillion financial market player, has joined the non-profit behind IOTA, the ninth largest cryptocurrency on the market. His advancement of blockchain technology started when he introduced it to the bank, and continued when he managed Bussman Advisory and assumed the role of president of Crypto Valley in 2017. In addition, he has been included twice on the Financial News “FinTech 40” list of innovators shaping the future of finance.
The IOTA foundation, founded by Daid Sønstebø, is the owner of the intellectual property of the cryptocurrency IOTA. It is collaborating with Bosch, the Germany-based auto parts manufacturer and EWE, the German IT and energy company. It is also developing a new marketplace platform to enable companies to exchange data, based on IOTA’s blockchain technology.
Sønstebø expressed: “We are thrilled to have one of the world’s foremost financial technology thinkers and actors with such gravitas and senior experience from world leading companies join the project. As IOTA has zero fees it is already a natural marriage with FinTech. The old financial legacy systems are rapidly being disrupted, and IOTA is part of spearheading that, Oliver will be a great asset in boosting this effort and ensuring great collaboration and adoption in this field and beyond.”