Digital summits and industry events are frequently happening at Liechtenstein University. The availability of experts from Liechtenstein and the proximity to Switzerland enables the university to bring together experts from various digital finance fields.
Liechtenstein University has played a role in the government’s digitalization agenda right from the start. With digitalization being a completely new area that has yet to be explored, the university has contributed to research in this field and supported the digital Hub Liechtenstein with scientific and academic knowledge exchange.
One of these events is the conference “Digtialization in Finance and Law,” which took place at the university for the second time, on 22nd October. The event was co-organized by PwC Zurich, the Liechtenstein Banking Association (“Liechtensteischer Bankenverband”), and Naegele Attorneys at Law, a Liechtenstein-based law firm. The 60 event participants discussed the latest digital trends and developments in finance and law and, in particular, also the challenges that arise for the sector with the Covid-pandemic.
Bianca Lins, who moderated the event, referred to the year 2020 as a “big digital experiment in real-time.” As the pandemic has forced businesses, governments, and consumers to adopt digital technologies faster than ever before, a digital wave has been unleashed throughout the developed world.
Blockchain still a key topic in Liechtenstein
Liechtenstein’s Prime Minister Adrian Hasler pointed to the opportunities digital technologies offer for innovation in Europe. He also explained how the Blockchain Act that his government introduced in January 2020 aims to enable businesses to explore these opportunities. Hasler emphasized how important it was to keep going this way and allow innovation to happen and actively support it.
Thomas Naegele, Managing Partner at Naegele Attorneys at Law, also spoke about blockchain technology and how it can be used in secondary capital markets. In secondary trading, he says, blockchain technology is “where the magic happens,” and market participants can mitigate counterparty risks and streamline financial transactions to be more efficient and secure.
Professor Philipp Sandner, Director of the Frankfurt School Blockchain Center, spoke about a programmable digital Euro and the tokenization of industrial goods. Joachim Schwerin, Principal Economist at the European Commission, explained how the European Commission aims at creating an entirely integrated economy in which the economic output will be based on the Blockchain. Schwerin said an essential part of this change is non-economic factors such as education and legal frameworks. Liechtenstein, he says, is well-positioned in this area with progressive regulations and the university’s educational offerings.
A hub for discussion and exchange of ideas
While Blockchain is a key Industry 4.0 technology, digitalization is bigger than Blockchain. Luca Caramanica from the Financial Markets Authority Liechtenstein (FMA) spoke on “Artificial Intelligence in financial markets regulations and supervision.” Philipp Rosenauer from PwC shared insights into topics revolving around Big Data and Regulatory Compliance. He says, “data is the new oil,” meaning companies have to develop strategies to gather and use their data as a key resource of the future.
The event shows how diverse Liechtenstein is in terms of digitalization. It shows that Liechtenstein University is a place where high-profile experts from science, business, and government discuss the most up-to-date topics about digitalization and finance. It’s worth having a look at what else the university has to offer.