# @benzinga on Instagram

- **Type:** Image
- **Original URL:** https://www.instagram.com/p/CznCnNFq84A
- **Gondola URL:** https://gondola.cc/posts/17858420-benzinga-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/thumbnails/efe4826fc4.jpg
- **Posted:** 2023-11-14T02:39:47.000+00:00
- **Account Owner:** Benzinga | News That Moves (@benzinga) — https://gondola.cc/benzinga

## Caption

Speaking at Benzinga's Fintech Deal Day & Awards in New York on Monday, CoinDesk's Chief Content Officer Michael Casey led a panel discussion on the adoption of blockchain technology for enhancing transaction security in 2023, addressing the industry's progress and the challenges that still need to be overcome.

On stage, Casey was joined by Jay Biancamano, head of Tokenization at State Street Digital, John Avery, VP of Digital Assets, Tokenization, Web3 at FIS Global and Thomas Sullivan, managing director at Société Générale in a panel discussion titled "How Blockchain is Transforming Transaction Security and Efficiency."

Casey shared his insights on blockchain being used for security and said it’s a myth that nobody is using blockchain technology. He said that there are a lot of supply chains on blockchains, and asked panelists about ways to get everyone to swim together.

Avery noted the lengthy timeline required for the development and approval of new technologies like blockchain, emphasizing, “we are talking a multi-year lifecycle – to build a business case to allocate budget even if we're talking $500,000 or a million dollars of investment in a small team to evaluate vendors, or new technology this stuff takes years to unpack.”

In the panel discussion, Biancamano pointed out a major issue in the blockchain industry: the lack of a clear, unified focus, stating that no one has really stepped up to declare a specific use case as the primary area of concentration.

Sullivan, meanwhile, highlighted trust as a significant concern, noting that the FTX debacle has made regulators "gun shy" due to the fallout from FTX and Sam Bankman-Fried. He stressed the importance of prioritizing customer protection, adding, "we need to have trust."
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#blockchaintechnology #blockchains

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## Tags

blockchains, blockchaintechnology

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