Season 1, Episode 6 – Parts 1-3:

Alexander Larsen Meets Paul Edge over Zoom

These Episodes of Risk Managers Getting Coffee were filmed on Zoom with host Alexander Larsen asking Paul Edge about Blockchain Technology. Discussions included what the technology actually is, the benefits it brings as well as how it can be used for Risk Management including securing supply chains, improving fraud and auditing. These videos can be watched alongside the Blockchain Article published by the Institute of Risk Management which can be found here

Part 1 – What is Blockchain

In this episode, Paul Edge and Alexander Larsen discuss how they met, their moves to Portugal and what Paul Edge’s background is and how he found interest in Blockchain technology. Paul explains the basics of what Blockchain is in technical terms and provides some examples.

Episode Content:

00:45 – Paul and Alexander discuss how they met

01:18 – A background to Paul and his Quants education

02:45 – Paul discusses how he got into Blockchain

03:47 – Ethereum changes things for Paul and he discusses why

04:24 – Paul describes what Blockchain actually is

07:55 – A discussion around how businesses currently operate and how Blockchain could change this.

Part 2 – Uses of Blockchain from a Risk Management perspective

In Episode 2, Paul links risk management to Blockchain technology. He explains how Blockchain can provide many benefits to securing supply chains, building transparency and improving numerous risks. Topics include Internal Audit, Fraud Reduction, Competitive Advantage and its application in financial services.

Episode Content:

00:45 – Paul explains how Risk Management can benefit from Blockchain starting with Supply Chain

02:45 – Paul continues by discussing Blockchain in the Financial Services

03:45 – Alexander asks Paul if we really need Blockchain to do a lot of these things. Trust is discussed along with some other aspects

07:05 – Paul discusses how Audit can improve whilst Fraud can be minimised

Part 3 – Weaknesses of Blockchain and Challenges to Implementation

The third episode focuses much more on the challenges to implementation of the technology as well as the current weaknesses. Paul outlines some weaknesses including the need for collaboration (which is challenging at the best of times) and Human Factors. In terms of the challenges to implementation and mass adoption, there are also a few key areas that Paul focuses on which include the Speed, Space and Cost.

Alexander and Paul also discuss the sensitive issue around Environmental Impact, and discuss the use of geothermal power and other green energy, although at the end of the day, there needs to be something of use that comes out of it.

Episode Content:

00:45 – The topic of weaknesses is brought up with a specific focus on the need for collaboration in order for it to work

01:45 – Trust leads on to Human Factors and fraud and potential solutions are discussed

04:00 – Paul explains the importance of Space, Speed and Cost with regards to blockchain information

07:54 – Paul tackles the Green Energy question as well as the environmental impact of Bitcoin

Episodes will be released every few weeks here on the Risk Guide website and via our LinkedIn (https://www.linkedin.com/company/risk-guide) and YouTube pages (https://www.youtube.com/c/riskguide).

In these episodes, Alexander Larsen met Paul Edge on Zoom.

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