May 9, 2024
PLL Legal at Ethereum Züri Conference 2024
In contrast to computerization, emerging technologies in finance are now increasingly contributing to appearance of new unregulated business models on the market making regulation of the ABCD framework of technologies (artificial intelligence (“AI”), blockchain, cloud and data (“BigData”) quickly becoming a firsthand matter of predominant importance for regulatory authorities, which are mandated to ensure, first of all, preservation of the adequate protection of the market functioning. As DeFi is currently approaching the dominant design stage, its product design model would be more and more dictated by regulation, a pattern which is similar to most of the regulated industries, including the sector of finance. A persistent theme of this talk is the currently changing approaches to regulation of technological risks following a rapid transition to the wholesale level leveraging of DeFi.
Following the analysis of common usage examples of DeFi on complex financial market, the presentation focused on various factors behind currently changing regulatory paradigm, including the notions of public perception of technological risk, modern state as a risk manager, more principle-based regulation (MPBR), as well as the problematic issue of DeFi facilitating egress from the legal systems.
The Ethereum Zurich Conference 2024 attracted a diverse group of attendees, primarily consisting of blockchain professionals, researchers and enthusiasts. The event aimed to bring together a vibrant community from both local and global ecosystems with over 500 participants. Attendees had the opportunity to learn, connect and engage with speakers and fellow participants fostering discussions around innovation and the evolving landscape of blockchain technology.
