To these changes is added ChatGPT, the very recent application of Artificial Intelligence-AI, modeled in the image and likeness of our abilities, but which for this very reason must be considered with the usual prudence that we reserve for opinions received from strangers.
Demonstrating its ambitions and limits was Professor Giacomo Poretti, academic at the Department of Innovative Technologies at SUPSI, as president of the Ticino Blockchain Technologies Association (TBTA), during a recent conference held at Villa Ciani in Lugano for the presentation of two new associates.
In particular, the president of TBTA let the impersonal voice of a specially trained ChatGPT application inaugurate the works.
Correct in form, the presentation of ChatGPT obviously did not comment on the substance of what the speakers then explained.
Also in this circumstance, the generic nature of artificial intelligence has been confirmed and therefore now leaves us room to examine the contents presented by the experts.
Two, it was said, the new members who joined TBTA, the main one digital cluster, the pole of attraction and technical coordination of all the IT innovations that are developing in our area.
Let's start with Bitcoin Suisse AGbased in Zug.
In just a decade it progressed from zero to hero, from start-up to operational reality with about 300 collaborators distributed in offices scattered across our continent.
Simplifying, the characteristic of this company is the integrated, vertical management of traditional banking activities but, specifically, carried out with cryptocurrencies and assisted by the usual, as well as necessary, regulatory guarantees.
To dispel an easy preconception, which imagines digital assets managed by mysterious operators and based in remote locations, we point out that the main executives of Bitcoin Suisse AG come from traditional finance and boast impeccable references.
This observation already confirms in principle the convergence between real finance and digital finance, and furthermore that the latter can be understood as an inclusive evolution not only of savers' current skills but also of traditional savings management procedures.
“The two forms of investment now present risks and profits in a similar measure”, summarized Lothar Cerjak, Chief Clients Officer and Member of the Executive Management of Bitcoin Switzerland.
However, cryptocurrencies show specific characteristics.
They are decentralized, accessible anytime, anywhere.
They represent one asset classes, an investment formula, with a capitalization, an economic aggregate, with small dimensions compared to others, such as gold and real estate for example.
One last point, but no less important: the trend of cryptocurrencies is de-correlating from other investments, especially on the stock exchange.
In simple words: this signals that the course of artificial transactions begins to "live its own life", moves independently of the news that influences the quotations of the traditional financial markets.
Consequently, it is justified that even in the field of digital finance "everything changes so that nothing changes", and therefore, today as in the past, the controls on transactions and regulatory authorizations also imposed on artificial operators are substantially the same.
Increased by a formal evolution, but identical in the substance of the consequences.
This was the logical and functional conclusion that brought forward to those present in the room the report of the second speaker, Libero Marconi, Senior Director of Alvarez & Marsal, one of the most authoritative international experts in the field of Cyber Risks, and with a professional background that in the last twenty years it has seen him protagonist in about thirty of the major legal disputes at a global level.
If this seems like an exaggeration, we recall that the Alvarez & Marsal studio, which we could reductively describe as one of the world market leaders in the field of corporate restructuring, is one of the consultants for the Confederation in the acquisition of Credit Suisse by UBS.
Also in this particular specialist field, the objectives, precautions, ethics and professional skills to be used after the arrival of digital finance are updated not in substance, but mostly in form, probably imposed by the novelty of investment declinations, read: NFT and similar.
"Despite the rapidly changing world, Alvarez & Marsal remains able to manage business complexities and contribute to the reliability of economic initiatives”, pointed out the Director Marconi.
Furthermore, the expert observed, it is necessary to remember that cryptocurrencies constitute an investment similar to others already present on the market, and like the latter it therefore remains exposed to potential fraud, as well as changes in prices.
In addition, should the technical precautions prove inadequate, digital currencies remain vulnerable to cyber attacks.
Consequently, even in the artificial universe, the rule "prevention is better than cure”, in retrospect, the over one hundred thousand “cyber incidents” that are recorded every day worldwide.
