The emergence of the fintech industry dates back to 2007 and since then the convergence of the financial and tech sectors has been unstoppable. The blockchain process, on the other hand, was invented as early as 1991 and is still one of the most discussed issues in the financial industry today.
To address this topic, the EU Tech Chamber (EUTECH) Finance Alliance organised a webinar on March 29, 2023. The topic under discussion was, “The Impact of Blockchain Technology on Finance in 2023”.
The webinar was moderated by Mr. Nasrullah Ali, coordinator at EUTECH, who gave a formal introduction of the panelists and a brief overview of the organization.
The first of the three panelists for today’s webinar were Mr. Katja Damij, CEO at FUTURE MONEY Management of Crypto Alternative Investment Funds. Next, we had Mr. Gregor Boltar, Broker and Fund Manager, and Mr. RICHARD NUNEKPEKU, Vice President – Legal and Strategy, at Ghana Fintech and Payments Association.
During the webinar, the speakers discussed the challenges faced by the financial industry in implementing blockchain applications. Some of the major challenges include regulatory ambiguity, interoperability conflicts, security worries, capacity constraints, and a sluggish adoption process.
In addition, the speakers mentioned that despite these challenges, financial institutions are increasingly exploring blockchain applications for various purposes, and the industry is gradually becoming more compatible with blockchain technology.
However, the challenges of implementing blockchain technology are significant, and financial institutions will need to work closely with regulators, technology providers, and other stakeholders to address these challenges and realize the full potential of blockchain technology.
We want to thank our respectable speakers for their informed insights on this much-needed topic. Moreover, special thanks to Mr. Nasrullah Ali for moderating the webinar and distributing Tree-Certificates to the panelists.
Above all, sincere thanks to all our attendees – your comments, compliments, and questions. Stay tuned for our next Finance Alliance webinar on April 26, 2023, about “How Fintech & AI are Revolutionizing Finance Transactions?”.