The next President of Consob should be Paolo Savona, the current Minister for European Affairs of the Italian government. During a hearing by the Senate’s Finance Committee, Savona set out three objectives: “to protect savings, mobilise them for growth and limit risk”.
“The second phase consists of recording on the blockchain reports on the high-level activity, both organisational and political, of the body of the organisation and the summit of the five Commissioners. This will allow achieving full transparency of the decision-making process”.
Savona’s project will use artificial intelligence and blockchain technology to improve Consob’s activities.
The first phase involves creating a working group to study the use of artificial intelligence in the management of information, while for transparent distribution it envisages using DLT based solutions.
But then he also added:
“I don’t want to be a dictator who creates a revolution and paralyzes everything. It’s not in my character, it’s not in my tradition”.
The intention, therefore, would be to put together a parallel working group to study how to improve the ordinary activity of the agency, but without disrupting it.
Let us not forget that at the beginning of February, the Italian Parliament legally defined what DLT is, so the Savona initiative is not an isolated case.
It is not yet clear in detail how the new President intends to use these technologies to make the distribution of information more transparent, but Savona has experience in this area so he does not speak as an uninformed person.
The curious thing is his age: 82, showing that not only millennials are interested in these new technologies.