Pierre Gramegna was in the Chinese city of Tianjin on Monday to attend the World Economic Forum ('Summer-Davos'), dedicated to the subject of the Fourth Industrial Revolution and its economic, social, cultural and environmental transformations.
Luxembourg's finance minister spoke at a panel entitled "Unblocking the Blockchain", dedicated to the development of this new technology and its practical applications in the financial sector and further afield.
"Luxembourg is widely recognised as a Fintech pioneer and European hub," Minister Gramegna commented. "It has also established itself as a leading placer in virtual currencies, like Bitcoin. Beyong this area, blockchain presents interesting opportunities for a variety of other Fintech applications, affecting all financial services. In this context, particular attention should be paid to aspects linked to the knowledge of customers (KYC) and the fight against fraud, money laundering and the financing of terrorism."
On the sidelines of the conference, Pierre Gramegna also had a bilateral meeting with Philipp Rösler, Executive Director of the WEF, for an exchange of views on the implications of Brexit on the global economy.
Photo by MFIN
