On February 2nd, SFTI hosted its first member event on “Crypto Currencies and Blockchain”.
Goals
• Bringing together the Crypto scene with the established companies in the Swiss financial services industry.
• Set the seed for further sustainable collaboration and for realization of successful new solution for the Swiss financial market.
Content
In cooperation with inacta AG from Zug, SFTI organized a half-day event, which included a general part on the topic “Why Blockchain is important” and 2 breakout sessions. One was focused on Solutions like AXA Winterthur’s “Digital Car Dossier”, the “XDL MVP” from the SFTI working group under the lead of the SIX Group and TEND, the new investment startup of Marco Abele.
At the same time, there was a Legal and Regulations Breakout session where the possible regulation and taxation of ICOs and profits from crypto-currencies investments were discussed:
Main Session: Innovate & Disrupt
“Blockchain, Distributed Ledger, Digital Currencies,…” many names around a topic – a short introduction
What are ICO or TGE, Cryptocurrencies?
What is the potential of the block chain technique?
What are already successful use cases – what is going on in Switzerland, what is going on in Europe and the world?
Which organisations are there?
Education Session about #blockchain, #cryptocurrency and #ICO for members from @sftinno – by Natascha Tummeley, Dolfi Müller/Major of #Zug, Lamine Brahimi, and @GLRalf pic.twitter.com/Za7ARWyUc6
— Fischer Markus (@Fischer_Markus) February 2, 2018
Breakout 1: Solutions
Consolidation of selected examples in the financial sector (focus on insurance and banking) => what is it all about?
@sftinno great #learning session about #blockchain #cryptocurrency – talked about #cardossier #digitalcarrecord https://t.co/sMOGsmq7Fm pic.twitter.com/fBRYK0oagg
— Lorenz ‘Lolo’ Hänggi (@Lolo46822032) February 3, 2018
Breakout 2: Regulations & Interpretations
Approaches to the legal treatment of tokens: focus on functionality and following existing legal forms or independent regulation?
Definitions for “currency”,”money” and “means of payment”: Which characteristics/functionalities lead to the fact that a token
can/should be qualified as “currency”?
Problem of transfer: Written nature of the assignment; tokens as securities?
Compliance with legal/regulatory requirements: e. g. data protection (right to forgetting), KYC/GwG rules, custody/external
administration, taxation, etc.
Closing our Legal and Tax Breakout with a panel discussion with Cornelia Stengel, Ronald Kogens @DavidBundiRisk Alexander Vogel and Thomas Linder #Blockchain #Regulation #CryptoCurrencies pic.twitter.com/CSlEAPMmSl
— SwissFintechInno (@sftinno) February 2, 2018
A follow-up event is planned for March, as well as other events that will be open to non-member companies.
