Podcast with Rob Krugman, Chief Digital Officer @ Broadridge

07/17/24 • 24 min

In this podcast interview, Robert Krugman, Chief Digital Officer and Digital Transformation Expert at Broadridge discusses the future of blockchain technology and cryptocurrencies, emphasizing the need to distinguish between the two. He highlights how blockchain technology is utilized beyond financial services, such as supply chain systems for auditing and management.

Rob discusses how the technology allows for real-time value exchange in the financial services sector, eliminating lengthy clearing and settlement processes. This real-time transaction capability could revolutionize money sending, especially to regions like Africa, reducing costs and transfer times.

Krugman mentions the emergence of JP Morgan Chase's coin to manage liquidity and the tokenization of mutual funds, facilitating liquidity and global access. He compares the current state of blockchain and cryptocurrencies to the early days of the Internet and cloud computing, noting the ongoing maturation of the technology and the development of new use cases.

Regarding cryptocurrencies, Krugman acknowledges the presence of many insignificant or scam tokens but emphasizes the importance of the top tokens built on robust technologies and protocols. He compares the decentralization trend to the early development stages of the Internet, emphasizing its potential to democratize access to financial markets and increase liquidity. He envisions a future where equities could trade across multiple exchanges simultaneously, reaching a broader investor base.

Krugman also discusses security and regulatory challenges. Both he and I agree that this process is cumbersome worldwide. He believes that the industry is self-regulating and enhancing security measures. Significant improvements will be made over time by using AI and machine learning to detect and prevent fraud. Krugman points out that regulatory approaches vary globally. Europe and the UK adopt a digital asset perspective, which he considers more appropriate due to the diverse use cases of these technologies. He emphasizes the importance of understanding and literacy about these new assets, encouraging informed participation and decision-making in the evolving digital asset ecosystem.

Ultimately, Krugman envisions a future where tokenized assets, decentralized decision-making, and transparent, auditable processes create a powerful new paradigm in finance and beyond.

Are you concerned about the security of your digital assets and interested in implementing robust cybersecurity management solutions? Do you require compliance, auditing, or cybersecurity forensics to ensure your organization's safety? Are you planning to set up a support team to handle technical queries and monitoring? Or, perhaps you need to secure your endpoints in the cloud with SASE? Whatever your cybersecurity needs are, our experts can help. For more information, please call us at 346-639-4039 or send us an email at [email protected]..

Ultimately, Krugman envisions a future where tokenized assets, decentralized decision-making, and transparent, auditable processes create a powerful new paradigm in finance and beyond.

Previous Episode

Podcast Interview with Todd Kackley, Global CIO of Textron

Podcast Summary: Interview with Todd Kackley, Global CIO of Textron

In this episode, I had the pleasure of speaking with Todd Kackley, the global CIO of Textron, a company with a rich history spanning over 100 years. Textron is renowned for its diverse range of land, air, and sea equipment, including Cessna Aircraft, Beechcraft, Easy Go golf carts, and Bell Helicopters. Textron continues to drive innovation and excellence in its field as a global manufacturing giant.

Todd, who has been with Textron for 16 years, shared fascinating insights into the company's forward-thinking approach. Textron's recent acquisition of Pipistrel, the first-ever certified electric-powered aircraft, highlighted our conversation, marking a significant milestone in aviation history.

As Todd highlighted, one of Textron's key strengths is its commitment to extensive development life cycle research, often spanning 12 to 15 years before a new device, equipment, or machine reaches the market. This long-term perspective ensures that Textron remains at the forefront of technological advancements, their solid dedication to Research & Development, and commitment to innovation.

Todd also discussed Textron's committmentss to the U.S. government, including projects like the Future Long-Term Assault Aircraft (FLRAA). As the CIO, he emphasized the importance of compliance, staying updated with the latest technology, and implementing robust controls to ensure trust, privacy, and security across the organization's global operations.

Leadership and organizational culture were also key themes in our discussion. Todd shared his efforts to build a culture that embraces remote work and leverages collaboration tools to motivate and empower employees to achieve the organization's mission. He stressed the importance of creating an environment built on empowerment and trust.

Looking to the future, Todd spoke about the transformative potential of generative AI and its impact on the industry and services. He also offered valuable advice for aspiring CIOs and business leaders in the information technology sector, emphasizing the need to build a strong personal brand and carve out a niche that can drive meaningful impact for their organizations.

This episode provides a comprehensive look into how Textron, under Todd's leadership, is navigating the complexities of a rapidly evolving technological landscape while maintaining its legacy of innovation and excellence.

Next Episode

Podcast Interview with Manjit Rana on the Power of Trust & Verification utilizing Voice Analytics

We had the opportunity to interview Manjit Rana, an insurance expert, thought leader, and innovation expert from the U.K. Here are the key points extracted from the provided text:

Manjit delves into the significance of voice analytics and its potential to mitigate fraud, enhance customer satisfaction, and safeguard individuals, businesses, and government entities by providing an additional layer of trust verification. When discussing fraud prevention, Manjit offers an example illustrating that approximately 30% of people are unlikely to commit fraud due to their strong moral values. In comparison, 30% might engage in fraudulent activities if presented with the opportunity, and 40% could commit fraud depending on their circumstances. The ultimate aim of voice analytics is to pinpoint individuals prone to committing fraud without categorizing everyone as a potential wrongdoer, underscoring the importance of this approach.

Voice analytics is a sophisticated system centered on trust and verification. It is designed to instill confidence in a wide range of transactions, such as filing claims, submitting job applications, and gaining access to secure buildings, particularly in situations where trust may be difficult to establish. Clearspeed's voice analytics tool has been developed to measure trust levels and pinpoint potentially fraudulent activity accurately.

Regarding Clearspeed's approach to technology, it's important to emphasize that their technology does not rely on stress level detection, voice stress analysis, or voice recognition for verification. Instead, it employs a straightforward method of using a simple yes/no response to a few questions to establish the trustworthiness of the reply. This approach can be likened to a metal detector, which detects the presence of something without pinpointing the exact nature of the object, signaling that the user should conduct further investigation.

Clearspeed's innovative technology has a wide range of applications and use cases. It can be utilized to verify the authenticity of academic dissertations, detect fraud in insurance claims, and ensure the accuracy of information provided in dating profiles. With an impressive accuracy rate of nearly 98%, the system surpasses human judgment and operates without bias, making it a highly reliable and versatile tool.