BOV Asset Management exploring Blockchain technology
‘Exploration of Blockchain technology and its application to Asset Management is still in the very early stages’ stated Mark Agius, Executive Head at BOV Asset Management during his address at BlockFinance – A FinanceMalta seminar in collaboration with the Malta Blockchain Association.
‘Given the technology’s potential to disrupt and enhance processes and systems, we at Bank of Valletta and BOV Asset Management have recently dedicated resources to better understand the technology and to envisage ways to integrate Blockchain in our business’ continued Mr Agius. ‘“Asset Managers will have to collaborate with other market participants and be prepared to share common infrastructures and common standards for blockchain to work.This is an opportunity for Asset Managers to review their business model with a view to achieving greater efficiency and cost effectiveness.’
‘The new-age Fund Manager must have a different mindset, be innovative and prepared to disrupt the existing operational model,’ concluded Mr Agius.
FinanceMalta and Blockchain Malta hosted the second seminar in the series of BlockFinance events aimed at discussing how blockchain will affect different sectors in the financial services industry.
The opening address was delivered by Kenneth Farrugia, Chairman of Finance Malta.