The South African Reserve Bank (SARB) has established a Financial Technology (Fintech) programme to assess the emergence of technological innovations in the financial sector and consider their regulatory implications.
In a statement issued on 13 February 2018, the SARB stated that it ‘takes a balanced approach to technological innovations, considering the potential benefits and risks
Most insurance companies acknowledge that major change is coming and the insurance world is excited about the changes that InsurTech may bring. Recently we have seen reports in the media that local insurance companies are spending significant amounts of money in partnering with various InsurTech companies in an effort to embrace the changes.
InsurTech is
The Department of Justice and Constitutional Development has published responses to the public comments received on the Cybercrimes and Cybersecurity Bill, which was tabled in parliament in February 2017.
The lengthy responses are available here. See our previous post on the major changes to the original draft published for public comment in August
Estonia may become the first country in the world to grant artificial intelligence (AI) some form of juristic personality, giving robots personal rights and responsibilities.
This northern Baltic country’s Economy Ministry is currently working on legislation to elevate the status of robots using AI to more than that of an object. It is still unclear
Technological and business model disruption has spurred Norton Rose Fulbright’s focus in seeking new inventive solutions for clients. We are working with new and emerging technology to drive efficient legal services and to reduce costs.
We are already providing cutting edge legal-tech solutions, and this will grow. For example, our ‘POPI Counsel’ is in essence
Blockchain is the latest buzzword in the FinTech world. This technology on which the Bitcoin network is built has the potential for numerous applications in the financial services and other industries, including smart contracts, clearing and settlement, trade finance, micro-lending and supply chain management.
What is a blockchain?
A blockchain is a public ledger or
In our previous articles in this series we argued that banks can create new markets for themselves in trade finance by providing digitised letters of credit or trade finance instruments for the movement of both digital and physical goods using blockchain. We also highlighted the fact that Barclays, together with the Israeli start-up Wave, may
Uber’s success is that it made it as easy to order and pay for a ride as clicking a few buttons. It created a multi-billion dollar market that didn’t exist just a few years ago. Blockchain is a payment technology that enables people to automate functions that previously needed manual input and creates certainty without
The use of technology in the health sector is on the rise. The intersection of these two industries leads to interesting legal questions relating to digital risk, including big data analytics, data security and privacy.
In his budget speech on 10 May 2016, Minister Aaron Motsoaledi discussed the following interesting medical technology initiatives being undertaken