Swiss Re AG · SIX:SREN
Swiss Re — Investor Presentation (June 2023)
21 slides from Swiss Re's investor presentation, Jun 13, 2023
Slide 1: Legal and regulatory challenges of Web3
Legal and regulatory challenges of Web3 June 13, 2023
Slide 2: Topics
WEB3 – LEGAL & REGULATORY CHALLENGES Topics Regulatory headlines – misuse, action? What are we talking about? Regulatory needs Legal needs How the future could look like Personal remarks
Slide 3: Regulatory headlines
WEB3 – LEGAL & REGULATORY CHALLENGES Some Facts Regulatory headlines
Slide 4: Regulatory headlines
WEB3 – LEGAL & REGULATORY CHALLENGES Regulatory headlines Regulators (central) to act Source: https://www.sec.gov/news/press-release/2023-101 , visited June 11, 2023
Slide 5: Web3 concept, explanations
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 Concept, explanations Source: https://en.wikipedia.org/wiki/Web3, visited on June 11, 2023
Slide 6: Web3 – main points
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – main points Some caracteristics WEB3 WEB2 New approaches for the World Wide Today's structure of the World Wide Web Web Decentralization Centrally organizad (ICANN) Blockchain Technology Web as a platform Token-based online economy Data-driven Power of the
Slide 7: Web3 – Regulatory facts
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulatory facts Centralized, fixed approach based on Constitution & laws Approved laws based on a legal procedure Defined responsibilities towards companies and individuals Enforceability Long procedures Missing flexibility Globalization vs. Regional orga
Slide 8: Web3 – Regulation: EU
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulation EU KYC & AML requirements MiCA regulation: Digital finance – Markets in Crypto-Assets of May 31, 20231 • Regulation of crypto-assets with access to capital markets • Regulation of corresponding service providers • Transparency and protection for
Slide 9: Web3 – Regulation: GDPR in a decentralized world
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulation EU – GDPR in a decentralized world Controller – Processer Liability Right to be forgotten Enforceability https://www.consilium.europa.eu/en/infographics/data-protection-regulation- infographics/
Slide 10: Web3 – eIDAS 2
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – eIDAS 2 EU – European Digital ID Wallet eIDAS 1 (harmonization for digital signature) – to be nationally introduced Recognition of a system EU-wide once accepted on a national level eIDAS 2: Digital Identity Wallet for each European Citizen till 2024 Sourc
Slide 11: Web3 – Regulatory Challenges
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulatory Challenges Copyrights Parties Ownership of Data in a decentralized world Enforceability Regulation and infringements
Slide 12: Web3 – Regulatory Challenges: Switzerland
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulatory Challenges Switzerland Constitution Federal Act on Data Protection (FADP) Copyright Act (CoPA) Code of Obligation (CO) Code of Unfair Competition Etc.
Slide 13: Web3 – Regulatory Challenges: USA
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Regulatory Challenges USA Different initiatives on state and federal level Regulatory actions of SEC and FTC Summarize of activities around Web3 presented at the hearing in May 2023 (Daniel Schönberger) 1/ 2 1 https://financialservices.house.gov/calendar/e
Slide 14: Decentralization & Rights & obligations
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Legal Challenges Dezentralization & Rights & obligations
Slide 15: Web3 – Legal Challenges
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Legal Challenges Access as Key topic: Who has access to which decentralized net? How? Applicability of rules – extra and intra chain? Local law yes – but which one? External influences Transparency & explainability
Slide 16: Web3 – Legal Challenges: Parties
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Legal Challenges Parties Power of the Technology owner Accessibility - Terms Liability Applicable law Enforceability
Slide 17: Regulation in a decentralized World
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Future Models Regulation in a decentralized World
Slide 18: Web3 – Future regulatory approaches
WEB3 – LEGAL & REGULATORY CHALLENGES Web3 – Future regulatory approaches The hybrid World Independent DAOs Agencies DAOs Web 3 State User etc.
Slide 19: The future means…
PROTECTING HUMAN RIGHTS IN THE SUPPLY CHAIN Latest developments The future means…
Slide 20: … Innovation & Regulation
PROTECTING HUMAN RIGHTS IN THE SUPPLY CHAIN … Innovation & Regulation Self-Sovereignty vs. Data-driven society What does self-sovereignty mean? Demogratic legitimacy Regulation yes – but how? Technology stake: dependency on technology leader – in any case? Flexible Framework adaptable with rules of
Slide 21: Thank you
Thank you ENERGIES