blockchain investments

Deutsche Börse exchange company to undertake massive restructuring for blockchain investments

Frankfurt-based Deutsche Börse, behind the ninth largest stock exchange in the world, intends to invest 270 million euros in projects and tools related to blockchain, artificial intelligence, big data analysis, cloud computing and robotics. This initiative is part of the company’s 2021 strategy, which was unveiled on Wednesday.

Deutsche Börse exchange company to undertake massive restructuring for blockchain investments

According to the plan, the company will be divided into 9 separate divisions, which will optimize its activities. During the restructuring, Deutsche Börse will get rid of 50 managerial jobs. The company believes that this will reduce structural costs by 100 million euro to 2020 year, and the one-time savings from the initiative will amount to 200 million euros.

Deutsche Börse exchange company to undertake massive restructuring for blockchain investments

The saved funds will allow the company to collect reserves for investment in innovative technologies. Deutsche Börse wants to create new jobs focused on emerging technologies and plans to invest around 300 million euros in this.

“Deutsche Börse prepares itself in the best possible way for future and future growth. We will focus even more on the scalability of our business model and the improvement of operational processes. In general, all this will make us faster and more efficient, ”said CEO Deutsche Börse Theodor Weimer.

The company’s roadmap is broken down into three key areas; one of them concerns investments in 4 cutting-edge technologies: blockchain, big data analysis, cloud computing and AI, including robotics.

“Deutsche Börse plans to use blockchain technology to explore new business frontiers that generate corresponding profits,” the company says..

Deutsche Börse is not the first major exchange valuable papers, decided to bet on the blockchain. IN Last year The Australian Stock Exchange (ASX) says it will use technology to manage securities clearing and settlement transactions and register shareholders.

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