What’s next in tech for finance? Think blockchain

Technology continues to reshape our world and has been accelerated by the pandemic. As you rethink processes for the new environment, you may be asking how technology can help improve efficiency and effectiveness. This podcast is the next episode in the second season of our What’s next? podcast series for CFOs, controllers — anyone in finance. This season we’re focusing on what’s next in tech for the finance professional — discussing the benefits of technology through the lens of the finance function. In this episode, host Heather Horn sits down with Scott Likens, PwC’s New Services and Emerging Technology Leader, to discuss the range of business benefits blockchain technology offers.Topics include:0:54 - Overview. Blockchain is a somewhat new, complex technology. We begin with the fundamentals: what it is and how it works.5:35 - How it’s being used today. As more finance functions begin to integrate blockchain, we look at how it’s being used to eliminate intermediaries, accelerate timelines, and increase transparency.       17:56 - Where to start. Knowing where to begin can be overwhelming. Scott shares his thoughts on starting small, repeatedly testing, and building internal knowledge around the values of blockchain technology.22:25 - Challenges. We discuss the potential adoption barriers, such as privacy concerns, and emphasize the importance of collaboration and process controls. 25:50 - What’s next? As we continue to get more digital, what does tomorrow look like for blockchain applications? We close by sharing our thoughts.Scott Likens is PwC’s New Services and Emerging Technology Leader helping clients in diverse industries use emerging technologies (artificial intelligence, blockchain, customer experience, and other digital strategies) to grow their business. For over 20 years, Scott has worked in enterprise technology, including digital strategy and transformation, technology-enhanced business and IT strategy, enterprise architecture as it relates to emerging tech, agile engineering, e-commerce, advanced analytics, mobile technologies, and social customer engagement.Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].