This session will assess the current use cases of crypto and DeFi technologies (blockchain, tokenisation, smart contracts…) in the financial services sector, the longer term prospects of the usage of these technologies, and the related benefits, opportunities and challenges.
The panel will also discuss the policy implications of the development of these new technologies in the financial sector and whether existing financial and digital regulations and supervisory approaches are fit-for-purpose for addressing the opportunities and challenges from their use.
Points of discussion
- What are the main use cases of crypto and DeFi technologies in the financial sector? Can they be the basis of a new wave of digital innovation in the financial sector? What are the main expected impacts of these technologies? Do these technologies create new risks or challenges? To what extent is the development of these technologies dependent on vibrant crypto markets?
- What are the main policy implications of the use of crypto and DeFi technologies in traditional finance? Are they appropriately addressed in EU financial and digital regulations and how does the EU approach compare with other jurisdictions? What improvements may be needed in terms of standardization and interoperability to support the uptake of these new technologies? How may the payment leg of transactions be facilitated most effectively in a blockchain-based environment and should standards be developed to support this? Do these technologies require changes in the way supervision in conducted?