Search results for "Regulatory sandbox"
showing 4 items of 4 documents
Exploring how social interactions influence regulators and innovators: The case of regulatory sandboxes
2020
Like incubators, regulatory sandboxes constitute a prominent mechanism to enable entrepreneurial activities that guide financial technology (FinTech) firms through regulatory frameworks in the financial industry. Because they are new, there is a lack of research on regulatory sandboxes; most studies have investigated legal aspects while overlooking the management perspective. To address this gap, this paper builds on incubation research studies to explore how social interactions within regulatory sandboxes influence the practices of regulators and regulatees, using social capital theory. An exploratory-abductive approach is adopted, using data collected from 16 semi-structured interviews. T…
Blockchain Securities, Insolvency Law and the Sandbox Approach
2018
Blockchain is a new technology that is based on an algorithm which allows participants of an IT network to process, store and share data across multiple points without the need for any intermediary, at least in order to ensure the integrity of the data dealt with. This technology is simplifying financial markets—many organizations are launching initial coin offerings to facilitate the financing of new business ventures; moreover, ‘securities’ that are issued in such a digital form can be bought and sold in the secondary market without the intervention of the traditional intermediaries. However, this use of blockchain could give rise to many problems which, in this article, will be analysed …
Exploring a new incubation model for FinTechs: Regulatory sandboxes
2021
Research on incubation models indicates that incubators and accelerators are crucial catalysts for the development of start-ups. To facilitate start-ups in financial markets, several regulatory authorities have adopted a new incubation model called a ‘regulatory sandbox’. Regulatory sandboxes enable eligible applicants to test their technology-enabled financial solutions for a certain period of time (subject to conditions the regulator imposes). As such, these instruments allow innovation while preventing severe instability in financial markets caused by systemic risk. Despite their importance, management research has devoted little attention to studying how sandboxes operate as a new incub…
New techs, new threats: sfide e opportunità della rivoluzione blockchain
2021
Considering the current diffusion of blockchain technology in the most different fields, ranging from public governance to economics, from contractual applications to health, the contribution addresses the issue of the legal regulation of this new technology, precisely because of its vast applications. From the comparison between the European model and the American one, the approach of the European legislator ‒ despite the delay with which the institutions have addressed the issue, seems to show, as already happened in other areas, a more 'social oriented' perspective and based on a sort of 'democratization' of data compared to the American approach, more ‘business oriented’, where the scho…