Pavel Kulikov
Pavel is a researcher at UZH Blockchain Center and a partner at PLL Legal & CBP, Zürich who undertook extensive research in comparative law, law and economics and regulation of technologies fields at various institutions and academic think tanks, inter alia, in the Netherlands, France, Australia and the UK. Pavel is an advisory board member of the Swiss Finance and Technology Association (SFTA). He gives courses on Technology Regulation in Financial Markets at various European universities and as a partner at PLL Legal helps startups and big companies to overcome the challenges of doing business in the global economy.
Session
In contrast to computerization, emerging technologies in finance are now increasingly contributing to appearance of new unregulated business models on the market making regulation of the ABCD framework of technologies (artificial intelligence (“AI”), blockchain, cloud and data (“Big
Data”) quickly becoming a firsthand matter of predominant importance for regulatory
authorities, which are mandated to ensure, first of all, preservation of the adequate protection of the market functioning. As DeFi is currently approaching the dominant design stage, its product design model would be more and more dictated by regulation, a pattern which is similar to most of the regulated industries, including the sector of finance. A persistent theme of this talk is the
currently changing approaches to regulation of technological risks following a rapid transition to the wholesale level leveraging of DeFi. Following the analysis of common usage examples of DeFi on complex financial market, the presentation looks at various factors behind currently changing regulatory paradigm, including the notions of public perception of technological risk,
modern state as a risk manager, more principle-based regulation (MPBR), as well
as the issue of DeFi facilitating egress from the legal system.