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Reflecting on the Point Zero Forum 2023

A Confluence of Regulation, Innovation, and Collaboration

The Point Zero Forum 2023, a not-for-profit initiative of Elevandi and the Swiss State Secretariat for International Finance, was held in Zurich, Switzerland, from June 26-28. The event aimed to promote policy and technology dialogue in Financial Services, bringing together 1,000 central bankers, regulators, and industry leaders for leadership dialogues, public-private roundtables, deep-dive workshops, and networking opportunities.

The second edition of the Point Zero Forum was jointly organized by Switzerland and Singapore, hosted by Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies, Heng Swee Keat, and Switzerland’s Federal Councillor and Head of the Federal Department of Finance, Karin Keller-Sutter.

The forum focused on the meaningful exchange of ideas and knowledge to advance Web3 and Sustainable Finance in the digital economy. Key topics discussed included the use of artificial intelligence (AI), digital assets, and Environmental, Social, and Governance (ESG) technologies for sustainable and efficient financial services. The significance of trust and stability for continued innovation and sustainability in the financial sector was also emphasized, with attendees discussing the recent turmoil in financial markets and the future challenges facing the sector.

The program covered three main topics: Digital Assets, which discussed use cases for adopting digital assets, asset tokenization, and distributed ledger technology; Technology for ESG, which showcased technologies and solutions that can accelerate the transition towards climate neutrality; and Generative AI, which provided a deep-dive into generative AI and its potential use cases in financial services.

The forum boasted a number of prominent speakers, including Adrienne A. Harris, Superintendent of the New York Department of Financial Services; Alessandra Perrazzelli, Deputy Governor of the Bank of Italy; Alison Martin, CEO EMEA & Bank Distribution of the Zurich Insurance Group; Bill Winters, Group Chief Executive of Standard Chartered; and many more.

Innovation tours took place on the final day of the forum, allowing participants and other guests to visit leading companies and innovation labs, including ETH Zurich’s Quantum Center, Google, BIS Innovation Hub, the University of Zurich’s Blockchain Center, CV Lab in Zug, and Home of Blockchain.

Daniela Stoffel, State Secretary for International Finance at the Swiss Federal Department of Finance, stressed the importance of technological innovation in achieving the UN’s Sustainable Development Goals while strengthening the competitiveness of the financial sector. Meanwhile, Sopnendu Mohanty, Chief FinTech Officer of MAS and Chairman of the Board, Elevandi, highlighted the interesting shift in the financial sector, with emerging financial technologies transitioning from the experimental stage to either leapfrog, as in the case of AI, or repositioned in areas like digital assets.

ACEGO, NT World, and Legatus were privileged to attend the Point Zero Forum, an enriching platform that provided us valuable insights into the latest trends, dialogues, and discourses surrounding future technologies and regulatory transformations. We are grateful for the opportunity to be part of such a thought-provoking event that fuels our learning and understanding of the evolving landscape.”

Here are some great people that we met:

ChinChin offered a thoughtful reflection, suggesting that perhaps the market should be allowed to evolve organically. She proposed a dual-path approach wherein regulated platforms cater to those who prefer a regulated environment, while DeFi services remain available for those who do not seek regulation. This would allow both sectors to flourish in parallel.

There may not be a compulsion to impose regulations on DeFi, nor should traditional platforms be forced to accept crypto on-ramps. She reasoned that each platform serves a unique purpose and targets different audiences, thereby reinforcing the need for a diverse and inclusive financial ecosystem.”

The Point Zero Forum 2023 proved to be an enriching platform for understanding the intersections of technology, regulation, and financial services. It emphasized the importance of constructive dialogue, collaboration, and mutual understanding between regulators, financial leaders, and innovators. As we move forward, these insights will undoubtedly be instrumental in shaping our approach to navigating the evolving landscape of financial technology.