Fidelity Labs – A Culture that Embraces Change

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.4 • 1K Ratings

🗓️ 6 July 2017

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most large institutions don't want to use about BitCoin. They don't even want to talk about it. As an emergent and in some cases untested technology, BitCoin is mostly used for select applications, and is not broadly accepted. So what makes Fidelity different—Fidelity, the company that tested BitCoin both in-house in their cafeterias, and for their charity?
Culture.
"I think there is a different cultural aspect," says Senior VP and Managing Director Hadley Stern. "Fidelity… has a very long-term view of technology. So it's not necessarily a one or three or five year view… it's a 30 year view." In it for the long game, Fidelity sees cryptocurrency as a tremendous new way to validate transactions. Those who discount BitCoin for its downsides are missing out on a "rearchitecture of the internet," explains Stern.
Tune in to hear more of Stern's insights. Be sure to subscribe, review. And if you can, consider donating some BitCoin to the cause. Every little bit helps.

Transcript

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0:00.0	Welcome to Almost Here, Round the Corner of Future Technology Podcasts with Richard Jacobs.
0:07.9	Future Technologies always to transform our lives for better or worse are the focus of this podcast.
0:13.6	Almost here means these technologies are now here and starting to be used.
0:17.7	We're just around the corner.
0:19.7	From Bitcoin to artificial intelligence, 3D around the corner, from Bitcoin to artificial intelligence,
0:22.0	3D printing, blockchain, virtual reality, and more.
0:26.6	Hi, this is Richard Jacobs with the Future Tech podcast. My guest today is Hadley Stern,
0:32.6	senior vice president and managing director of the blockchain incubator at Fidelity Labs, which is associated
0:39.2	with Fidelity Investments. Hadley, how are you doing?
0:42.1	I'm doing great today. How are you?
0:43.8	Good. Hopefully I got your intro, right?
0:47.1	Yeah, I think you did. Yeah.
0:49.5	Well, very good. So what's Fidelity Labs and then you know, then let's get into, in regards to blockchain initiatives,
0:57.4	what's happening there over at Fidelity Labs?
0:59.7	Sure, yeah.
1:00.1	So Fidelity Labs is an internal innovation group within Fidelity Investments that's been in existence since about 1998,
1:08.7	so for quite some time.
1:11.2	And our goal really is to understand new technologies, experiment with those new technologies,
1:18.4	and potentially build new products and services.
1:21.9	We also have, apart from a technology point of view, also a user and product point of view as well.
1:27.9	So we also incubate new products and services for the company.
1:31.9	Okay. And, you know, getting a little bit more specific, again, in the world of blockchain
	...

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