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Archive » December 2020 » Finance and Bigtech in Europe, the need for a boost in regulation and security

Finance and Bigtech in Europe, the need for a boost in regulation and security

Paolo Ciocca
December 2020 - n. 12
Keywords: Finanza, innovazione tecnologica, competizione globale
Jel codes: G20, O30, F60

For Europe and for financial intermediaries, it is crucial to take a leap forward in technologies and rules to compete with China and the United States. Strong support is needed for the Gaia-X initiative and the Dora regulation for the supervision of large players. On the Dlt, after the Consob initiatives on Initial Coin Offerings and Security Token Offerings, it is time to regulate the issuance of securities with Dlt technology, which would greatly reduce costs. Other key areas are Artificial Intelligence, facial recognition, algorithm risks. Security plays an essential role in the face of increasingly flexible, dangerous and low-cost cyber threats. An area in which Dora can lead to a real Big Bang in cybersecurity for the European financial sector.

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