What technology development will create the most legal change in your jurisdiction?
Technology (second edition)
Based on its general technology neutrality, the Swiss regulatory framework allows for ample regulatory latitude and room for development for technology driven business models and companies, including compared with other jurisdictions. Specific areas of presumed legal development includes the legal classification of virtual currencies as digital objects and the evidentiary value of confirmations provided for digitised assets and the transfer thereof by means of distributed ledger technology (public faith in blockchain entries).
Big data, cloud computing, internet of things (IoT) and AI may create the most legal changes in China. These new technologies will all involve the processing and the storage of huge amount of data, and will eventually direct to the same legal issues in the protection of personal information and privacy, data and network security as well as the security examination in cross-border data transfer. Another legal change brought by AI could be the legislation specifically for proportionating liabilities when AI malfunctions or infringes others’ legitimate rights.