Technological developments are disrupting the financial world, with new perspectives opened up by digital technology. The United Kingdom, in its quest for innovation, has reached a remarkable milestone: the launch of a permanent version of its Digital Sandbox. This step forward is all the more significant as it opens the way to an unprecedented transformation of the economic environment.
An incubator for sustainable finance
It is the Financial Conduct Authority of the United Kingdom (FCA) who is at the helm of this pioneering initiative. After two successful pilot tests, the FCA decided to sustain this experimental environment from August 1, 2023.
From now on, any innovative company, from start-up to data provider, will be able to test and refine its products at an early stage of their development. Regulators will also be introduced to the novelties from their earliest stages to observe ongoing technical trials.
During the second pilot phase, particular attention was paid to the performance in terms of sustainability of the projects, including the use of environmentally friendly decentralized registers.
This testifies to a clear desire to include this initiative in a framework that respects the planet, a concern now at the heart of global financial issues.
A springboard to innovation and growth
The Digital Sandbox is not content to be a simple test platform, it is also a real innovation incubator. Participants benefit from a secure platform to experiment. In addition, they will have access to more than 200 datasets And more than 1000 APIs to test and validate their innovations.
By encouraging innovation and growth, this digital incubator has already enabled more than half of the participating SMEs during the pilot tests to make significant progress.
Launching new products, securing funding and partnerships, and receiving industry awards or recognition are all proof of this.
With an approval process of just four weeks, the Digital Sandbox is ready for a new wave of innovation starting August 1st. This initiative from the United Kingdom is not only a technological step forward: it is a step towards a future where finance and digital combine to build a more equitable and sustainable world. Who knows what new horizons these seeds of innovation will open up? The future is at hand, and it looks exciting. But, could the red alert on crypto ATMs hinder this progress?
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
