Fidelity, the 72-year mutual fund famous at Wall Street than in Silicon Valley, is changing tact and investing billions of dollars in emerging technologies as blockchain a Fidelity executive has revealed. For its long history, the firm plan to compete with tech companies and not outperform traditional competitors as Charles Swab because “blockchain is the new cool.”
Throughout their history, the mutual fund is known for being a technology trailblazer. Back in the 1960s, they bought their first mainframe. A few years later, the fund sold their retail mutual funds via a toll-free telephone line and went on to roll out Fidelity Money Line, the first EFT for money market funds.