Open Finance und Decentralized Finance – Entwicklungen in einem disruptiven Finanzmarktumfeld

The recent technological developments not only impact society in general but they also strongly influence financial markets, even in a disruptive way. Open finance and decentralized finance cause an opening of the financial ecosystem and challenge existing notions; for example, new concepts are needed for the regulation of data access/portability and of digital identity as well as for the standardization in a decentralized environment. The protection against illicit interference into the infrastructures for finance equally gains importance. The adequate design of a new regulatory regime remains a challenging task in the near future.