IT News Online – “Blockchain is one of the biggest innovations in the financial landscape,” says Enrico Massignani, CRO, Generali Group Asset and Wealth Management
A leading global association promoting best practices in risk management, International Association of Professional Risk Managers (PRMIA), successfully concluded its’Blockchain and risk management: challenges and opportunities‘meeting which brought together the main industry experts from local and globally recognized organizations.
Enrico Massignani, CRO, Generali Group Asset & Wealth Management, Italy
During the meeting, keynote speaker Mr. Enrico Massignani, CRO of Generali Group Asset & Wealth Management, Milan, Italy underlined the need to strengthen risk management to deal with various risks including credit risk, market risk, liquidity risk, and more particularly reputational risk.
“I expect this to be one of the biggest innovations in the financial landscape for many years from an infrastructure perspective,” noted Mr. Massignani on blockchain adoption. “However, from a risk management perspective, adopting this technology is a risk. Anyone venturing into this area should consider reputation, regulatory and operational risks, but the payoff will ultimately be. huge. “
Blockchain, one of the greatest technological innovations, provides immediate, shared and fully transparent information stored on an immutable ledger that only authorized members of the network can access. The blockchain offers immense possibilities for savings and increased income. The global blockchain technology market is worth $ 210.2 million in 2016. It is expected to reach $ 2,312.5 million in 2021 at a CAGR of 61.54%.
During the webinar, Dr. Kishore, CFO of Meenakshi Group moderated a panel discussion between Mr. Sumit Gupta, CRO of Yes Bank, Mr. Prasanna Lohar, CIO of DCB Bank, and Mr. Vikas Singh, CEO of Bloque Labs. The speakers highlighted how blockchain has the potential to positively disrupt industries such as banking, insurance and financial services.
Various use cases including land registrations, investments, artificial intelligence, cryptocurrencies, non-fungible tokens, etc.
Professor (Dr.) K. Srinivasa Rao, Assistant Professor at IIRM summarized the deliberations and elaborated on important aspects. The webinar brought together over 150 attendees including bankers, finance professionals, insurance professionals, professors, blockchain experts and management academics.
PRMIA Indian CEO Dr Nirakar Pradhan highlighted PRMIA India’s transformative journey in creating a value chain of knowledge, skills, networking, career and professional enhancement for individuals and businesses.
Sravan Janaswamy, Regional Director, Hyderabad, welcomed all the guests and thanked the volunteers and participants for their immense interest.