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hello guys so i will try to try to do it short it's just
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seventy minutes so um okay so i would like to talk to you
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uh why i believe sets switzerland is predestined to
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become a new scripts will finance hop
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and um i would like to help you maybe it to put a little bit things into perspective
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i i would like to tell you to stores
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just always set up that are different but just always speech ah about the scene
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but still is that a long story because all the two hundred years it's about a conscious
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and see all the story yes but a recent they're short and it's about technologies
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so let's have a look at the first story
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or or rubber
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we're
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her
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or or
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or or
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or or i that history of sleaze private banks and
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two hundred year old history in sixty seconds
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it was a little bit exercise right at this point here is you know is
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it this time she uh has always had this independent neutral status right
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which helped it to chairs the tradition of privacy and bank secrecy
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and this is the cousins on of the or competitive advantages
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of this can shows as being can centre um and
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this advantage gotta crack um as in two thousand nine you
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best had to give out information client information to us
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um and from there you know the next steps involved was european union
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and so on so basically next year um it's very historically or because
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next year it will be the first year where's the automatic
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uh information exchange agreement fixing or swiss banks just need to
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give information boggles the clients in automated could um we
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and that's quite a big deal because you see that was very important
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um the constituents it's a basis of this privacy and security
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so is this story kind of get in its tracks and it's a question of red headed to
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finish images there is a news story coming up let's have a look at the story
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huh
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alright
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i
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get it to different stories rate but they have basically though to see
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they are about human rights say about protection and safety of wells in savings
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the things that is still you know normal and natural to us that which is
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quite not sorry for almost all of people living outside of of ritual i
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and it's actually very interesting historical coincidence that you know
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the moment cyclone full custody of the whole switzerland
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was put in questions just doesn't eight exactly that moment new global custody
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it going wasn't rice
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oh
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mm hum and this is exactly you know two
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things that how people can go about saving
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they are well since you know storing their money somewhere outside of their local
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currencies they're conscious rage like if you are out there in china and russia
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in any kind of the place where you have a reason to worry
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because you know you if no in the can she controlled by the government sets you know maybe abuse
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um monetary policy and uh put it's as a
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means for wealth redistribution printing money or
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maybe you know it's not you're not very protected buys the book
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awful there's mister three she of companies happenings the route
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retirement performs you know all kind of sorts of money no
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place to lose your wells then you kind of really
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i would like to put money somewhere safe as far as possible from you can she had
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to do you have to opportunities one is full over for each and one is for
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so if you reach and but each i mean you know in terms of
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suisse private banking definition if you have five million liquid assets or more
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so while you can book your flight here to switzerland to allow me to very nice with maker and he will be
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very helpful with a lot of things uh and you can be pretty much or is that what you have today
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will be the same as what you have to more and maybe even a little bit more
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but if you're not reach like outside of the five school then basically out there you don't
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have a lot of opportunities until recently basically not many but today you have bit claim
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basically in any branch of the vote you can buy be the cohen
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and you can transfer you can you can do with that whatever you want it's yours nobody can take it away
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i'm so excited i mean it's been like a ten years join
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your bit going but i'm so excited about it until now
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and i tell you why because um as i was to nature and
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um you know be leaf through collapse of the soviet union
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you know in ukraine this effort probably through the worst hyperinflation of
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modern history we had like ten thousand percent inflation per year
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between two to ten thousand over five years so we basically lost everything right
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it was pretty bad on my grandmother a famous researcher professor at the university
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she would end up on the street if i wouldn't do like enough to get a scholarship
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from german government and be able to send sure fifty fifty the each mark for months
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and back then they didn't have because and they couldn't do anything great we couldn't even by
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you know there were so that that's you know that's the reality of conscious out there
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that we don't see but i think you know was emergence of grip to currency
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the receiver great opportunity to change that to give access to safe
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or unsafe your save save and as it's brought to everybody
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it doesn't have to be on the rich and powerful it doesn't have to be
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only five new and plus crypt occurrence enables us to move funds easily
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and this is a great also business opportunity and of course you know big aquinas a block changes the
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technology uh gives us at an opportunity to go
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to very efficient um market infrastructure i'm out
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completely um the next generation a trade in platform and so
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on where um transaction and settlements falling too long
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creating completely new structures sent liquidity opportunities
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and this is actually what to be a smart follower invest envisaged as an opportunity
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ah the ability and uh de centralise marketplace
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the tool can nice to alternative investments
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this was a safe and we go ah as a swiss bank
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but accessible and for all of us is because this is our vision and i think or
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there is no better time to do it and the weather place to do it sent here and now
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because to d. v. stand in hats unique interests actually
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perfect crossing of new technology and regulator opening
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new technology will change technology technology for money in first place
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and regulator opting instead which we'll even here in switzerland and
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this regulator opening maybe it's not so transparent for you now
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but i just to touch base on what's going on
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to make regulator change happen you need to thinks
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the the regulator needs to be able to do the change
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and it needs to be a political will behind it
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and i would like to say is that here in switzerland we have both
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we have the ability and we have so little visibility us first of all
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not which of the regulators three gratuity needs to understand the technology
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and this is it actually not uh not such a given thing um
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if you look at a up back it's a history in a lot of uh he says
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dick now uh uh regulation was always like in the technology
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and it's obvious thing you know of course is new technology which is there are not a lot of people
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sets have a deep understanding and comprehension about implications for the business model for being can
00:12:23
rate so for regulators it's very difficult to catch up with all the developments
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and uh in q. three we had the most funniest
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uh examples uh about different figure eatery uh
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cases um at the meeting invented the car this
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is maybe comparable back in the late at
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and of the nineteen century in your key there was a red flag act
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i don't know if you heard about this one trip black actor actually said that you know the car
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needs to move on the four kilometres per hour in the c. t.
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there needs to be a man going ahead of this was that at flag
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morning everybody of the printer so that nobody gets killed trade and of
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course as you can imagine you know there were just so
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many people to work with the red black so that was quite a harder um it's not that bad in our case right
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and the great advantage what we have here in switzerland is that
00:13:26
our regulates is very knowledgeable about it going and property
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this started to look and into the into this topic back in two thousand fourteen
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and by now i would say is things that they developed quite an expert tyson's this field
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so coming back to ability is the ability of the regulated to
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make a change it's understanding of the technology number one
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um it's you know flexibility and independence
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and this is also what we have here right because switzerland is a small country it's not part of european union you know
00:14:03
euros artist can decide what needs to be done and and just do it right more or less um
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and insisted factor is you know is of a regulation is structured
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and here in switzerland three half our regulations that as a
00:14:20
potential in principle based set means you know that
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they're not trying to make settles about everything into small detail but um
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to to to uh to provide guidance on the principle based oh
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line yeah so this is you know this is why i but i think
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the abilities here and so will the political will is also here
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and um this is easy to understand even if you're not from switzerland here don't know uh oh
00:14:55
our banking stories up this is easy to understand you know
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as this was that being can secrecy goes away
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you know this question for competitive advantage this is kind of you know like
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if this goes away what should be our basis like how do we
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gonna compete on the global as a global being can or finance centre
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until this question to this one is of course from tech right interact bob she
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this is how i'm piazza switzerland can you know still hold
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very good position angle been can uh_huh um yes um so
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but this is not just to see really it it is actually what's going on
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um they have several very good examples
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what about you know how regulated was open in two crypt space and
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i was very likely to be able to influence one of them
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uh last here it was a case of you know bit corn custodian that came here just what's
00:16:04
learnt to oppose the goal to establish had which airs here and to be regulated here
00:16:10
bit going custody bit convoluted this kind of stuff it and um
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and usually have very difficult conversation was female alexis script so and you know
00:16:21
you hold the private keys so if you call the private keys
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then you're kind of in control of the fonts if you're in control of the
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funds you're kind of a bank so then you know the discussion was like
00:16:33
you guys should apply for bank license and you can understand you know for any
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startup banking license per you have ten million capital requirements and all that
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a structural requirements it's mission impossible right um so
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it was like well this is it
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and then i understood that we just need to calls us into tension
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on a broader social and political level right so i started to talk
00:17:01
to you know to to shuns political organisation associations even banks
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and servers so much there was there was so much support from
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all the different uh angles right everybody said like all wall
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looks as silicon valley companies coming here to switzerland and they
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need you know to get this license and stuff down
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so why don't test support that right makes this happened and there was so much momentum
00:17:33
that finally end of the last here female swiss financial regulator pulled
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back and said okay guys we gonna do an exception
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you go right you're allowed to operate in switzerland without thinking license simply the financial
00:17:51
um intermediary or is that was a big deal that was a big achievement
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and i think a lot of cases are happening now we
00:18:01
will see a lot of new cases lexus common um
00:18:07
thank you light thing type license is coming up next here that's gonna
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be also quite a big deal and very beneficial like to
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companies like ours because will be able to operate almost like a
00:18:18
bank without need to put so much capital and decide
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but i think you know looking back will always look to this
00:18:28
case topple case right on and see it as a turning point in regulatory policy
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uh_huh uh_huh so was that um
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i would like to tell you on set yes there is the hope and actually believe
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that's what's one will be in terms of regulation was one of the most
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a forward thinking countries going forward to creep to space for block chain
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but it's not just enough for us to sit down there
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relax and hope that you know they will figure out
00:19:07
we need to shape the need to be loud we need to
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talk we need to discuss the need to show the regulator
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the way we're going to wait should be and now i'm here i'm talking about i seal
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you know be nice steel company it's almost like being that
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probably company like even more public company right was out
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heavens rules of those it all those people say given you
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money right and you're kind of not obliged to do
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all that you know requirements that you would do is it
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a regulated public company but the more i think we
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need to do it on our free will be
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and there are so many things that we can do better in terms of prominence in terms of you know how
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i still up down and what is the government's instructors
00:20:03
that you know full when that and i think
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we would need to start a conversation also here in switzerland a plane into um
00:20:14
start to serious off round tables around perspective says fly still here in switzerland
00:20:21
and i would like to welcome everybody who would like to dedicate
00:20:25
to this topic let us leads the way and she'll
00:20:31
how what is the best way i still companies should be
00:20:36
you know regulated or even like self regulate it made
00:20:41
and this is about talking structure great it's about cap when your race mine it's
00:20:46
about q. bases that you take yours that you don't get dirty money in
00:20:52
it's about a self imposed the commitments to financial
00:20:56
to audited financial statements it that you you just do it right
00:21:02
usual how much activity hold tool control for your team usual
00:21:06
how us to to complete transparency three just so
00:21:09
many things that we can do better and this is michael to all of you uh_huh let's do together
00:21:18
thank you very much

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Conference program

Welcome and opening remarks
15 Sept. 2017 · 9:25 a.m.
446 views
Tokens Generation on the Blockchain
William Mougayar, General Partner, Virtual Capital Ventures
15 Sept. 2017 · 9:29 a.m.
145 views
Panel Discussion: Inside the Token Economy, moderated by David Wachsman
Alexander Bulkin, Ransu Salovaara, Dominic Zynis, John Quinn, Resp: Co-founder, CoinFund.io - CEO, TokenMarket - Co-founder, WINGS Foundation - Co-founder, Storj
15 Sept. 2017 · 9:54 a.m.
Swiss Finance in Transition
Olga Feldmeier, CEO, SMART VALOR
15 Sept. 2017 · 10:32 a.m.
Panel Discussion: IPO 2.0: How Blockchain is Disrupting Venture Capital and Investment Banking? Moderated by Marc Badertscher
Jamie Burke , Kenzi Wang, Eddy Travia, Richard Muirhead, Resp: Founder & CEO, Outlier Ventures - Managing Partner, Superbloom Capital - CEO, Coinsilium - General Partner, Open Ocean
15 Sept. 2017 · 11:19 a.m.
102 views
Panel Discussion: State of ICO Market – Cutting through the Hype, moderated by Daniel Haudenschild
Richard Kastelein, Daniel Zakrisson, Alexander Ivanov, Miko Matsumura, Resp: Co-founder, Cryptoassets Design Group - Co-founder, Cofound.it - CEO and founder, Waves Platform - Partner, Pantera Capital
15 Sept. 2017 · 11:54 a.m.
Fireside Chat: Investor Journey: from Bitcoin to VC. Moderated by Eric van der Kleij
Richard Moorhead, Olga Feldmeier, Charles Hoskinson, Resp: General Partner, Open Ocean - CEO, Smart Valor
15 Sept. 2017 · 1:42 p.m.
Pitch DomRaider
15 Sept. 2017 · 2:19 p.m.
Pitch Science
15 Sept. 2017 · 2:30 p.m.
Pitch Swapy / Credit Dreams
Edmilson Rodrigues, CEO
15 Sept. 2017 · 2:38 p.m.
Pitch Modex
15 Sept. 2017 · 2:45 p.m.
Pitch Etherisc
Stephan Karpischek
15 Sept. 2017 · 2:54 p.m.
Pitch RecordGram
15 Sept. 2017 · 3:02 p.m.
Pitch AION / NUCO
15 Sept. 2017 · 3:11 p.m.
Pitch BitBoost
15 Sept. 2017 · 4:14 p.m.
Pitch Sweetbridge
15 Sept. 2017 · 4:20 p.m.
Pitch Streamr
Henri Pihkala, CEO
15 Sept. 2017 · 4:29 p.m.
Pitch RightMesh
15 Sept. 2017 · 4:36 p.m.
Pitch Sun Exchange
15 Sept. 2017 · 4:44 p.m.
Pitch Papyrus
15 Sept. 2017 · 4:50 p.m.
PanelDiscussion ICO Best Practice, moderated by John Hacker
Nicolai Oster, Michael Terpin, Arie Y. Levy Cohen, Andreas Glarner, Resp: Head of ICO, Bitcoin Suisse - CEO, Transform Group - President, Blockhaus - Partner, MME Legal
15 Sept. 2017 · 5:03 p.m.
155 views
Investor Jury Announcement and Closing Remarks
Olga Feldmeier, CEO, SMART VALOR
15 Sept. 2017 · 5:50 p.m.

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