Blockchain will power ‘the back office of the world’ in 5 to 10 years

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.