There s a real prize for the UK to lead when it comes to distributed digital ID
Financial Services Bill: Time to Act
Part Four of Five
Thursday, I have pleasure in penning day four’s thoughts on the Financial Services Bill, currently making its way through the House of Lords. Today, I want to set out my hopes for a distributed digital ID for the UK. I know, child’s play right?
I put forward my amendment to this end yesterday evening. The amendment requires the Secretary of State, within six months of the passage of the bill to publish the government’s plans for the development and deployment of a distributed digital identification (“Digital ID”) for individuals and corporate entities in the financial services sector.
DLT may not be the silver bullet, but it s worth a shot
Financial Services Bill: Time to Act
Part Three of Five
Mid-week, I have pleasure in penning day three’s reflections on the Financial Services Bill, currently making its way through the House of Lords.
Today, I want to set out my hopes for the bill in relation to potential distributed ledger technology [DLT] use cases, digital instruments, the regime for open finance and the recommendations of Ron Kalifa’s FinTech Strategic Review.
This afternoon I will be putting forward amendments covering these areas as well as the two AI amendments discussed in yesterday’s piece.
Financial institutions should consider appointing AI officers
Crypto AM Parliamentary Special,
with Lord Holmes of Richmond MBE
Part Two of Five
I have pleasure in penning Day Two’s thoughts on the Financial Services Bill, currently making its way through the House of Lords.
Today, I want to set out my hopes for the bill in relation to Artificial Intelligence [AI].
AI is already pervasive across so many aspects of our lives, including financial services. AI will be key in how the financial industry operates and delivers services, and for it to compete and thrive.
According to consulting firm Accenture, the contribution of AI and augmented technologies to the bottom line for financial services companies around the world is estimated at $140 billion in productivity gains and cost savings by 2025.
Government Understands Need To Make âQuick and Tangible Progressâ On Regulation Of Tech Giants
The Government understands the need to make “quick and tangible progress” on implementing the new regulatory regime for the tech giants given local publishers are under increasing financial pressure.
In its report ‘Breaking news? The Future of UK Journalism’, the House of Lords Communications and Digital Committee called for the Digital Markets Unit to be set up as a matter of urgency,” overseeing a news media bargaining code similar to the Australian model.
The report was published on the same day the Government responded to the Competition and Markets Authority’s market study into online platforms and digital advertising, announcing that the DMU would be set up in April this year.
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