02 February 2023
Presentation of the DLT Virtual Sandbox (Blockchain)
Rafał Mikusiński, Deputy Chairperson of the Polish Financial Supervision Authority, and Maciej Trybuchowski, President of KDPW, opened an event presenting the DLT Virtual Sandbox at the Copernicus Science Centre in Warsaw on 1 February 2023. KDPW is the technology partner of the Polish Financial Supervision Authority in this project.
During the presentation, Rafał Mikusiński emphasised how important it is for the promotion of innovation in the financial market that the supervisors follow the development of technology. Apart from technology, challenges include new regulations, such as the DLT Pilot Regime and the Market in Crypto-assets Regulation.
Maciej Trybuchowski, President of KDPW, pointed out that in addition to its role as a post-trade infrastructure, KDPW is also a technology company which develops state-of-the-art IT solutions for the capital market. He stressed that the Polish capital market has from the very beginning been distinguished by a very high degree of commitment and technological sophistication. DLT is an example of how to use the Innovation Hub Programme and available expertise to build a DLT Virtual Sandbox which offers a wide range of possibilities for testing new solutions.
Mandatory conditions of access to the DLT Virtual Sandbox include the regulatory consultation under the Innovation Hub Programme. The DLT Virtual Sandbox complements the PSD2 Virtual Sandbox, in place since 2020, which supports testing of selected payment services.
The environment developed and implemented in the infrastructure of the Polish Financial Supervision Authority was launched in cooperation with KDPW experts under a cooperation agreement concerning support for the development of the Polish financial innovation ecosystem, as well as on the basis of ongoing discussions.
The technology segment was presented by Patryk Seremak, Expert at the Polish Financial Supervision Authority’s FinTech Financial Innovation Department, and Rafał Wawrzyniak, Director of the KDPW IT Systems Department.
As part of the DLT Virtual Sandbox, the Polish Financial Supervision Authority has decided to initially provide an environment based on the Hyperledger Fabric (HLF) platform given the frequency of use of this technology in the financial market. In the future, it is possible that the DLT Virtual Sandbox may also be developed based on other technologies with prospects for the financial market in order to enable their testing.
More information on the Innovation Hub Programme and the DLT Virtual Sandbox is available at www.fintech.gov.pl.
During the presentation, Rafał Mikusiński emphasised how important it is for the promotion of innovation in the financial market that the supervisors follow the development of technology. Apart from technology, challenges include new regulations, such as the DLT Pilot Regime and the Market in Crypto-assets Regulation.
Maciej Trybuchowski, President of KDPW, pointed out that in addition to its role as a post-trade infrastructure, KDPW is also a technology company which develops state-of-the-art IT solutions for the capital market. He stressed that the Polish capital market has from the very beginning been distinguished by a very high degree of commitment and technological sophistication. DLT is an example of how to use the Innovation Hub Programme and available expertise to build a DLT Virtual Sandbox which offers a wide range of possibilities for testing new solutions.
Mandatory conditions of access to the DLT Virtual Sandbox include the regulatory consultation under the Innovation Hub Programme. The DLT Virtual Sandbox complements the PSD2 Virtual Sandbox, in place since 2020, which supports testing of selected payment services.
The environment developed and implemented in the infrastructure of the Polish Financial Supervision Authority was launched in cooperation with KDPW experts under a cooperation agreement concerning support for the development of the Polish financial innovation ecosystem, as well as on the basis of ongoing discussions.
The technology segment was presented by Patryk Seremak, Expert at the Polish Financial Supervision Authority’s FinTech Financial Innovation Department, and Rafał Wawrzyniak, Director of the KDPW IT Systems Department.
As part of the DLT Virtual Sandbox, the Polish Financial Supervision Authority has decided to initially provide an environment based on the Hyperledger Fabric (HLF) platform given the frequency of use of this technology in the financial market. In the future, it is possible that the DLT Virtual Sandbox may also be developed based on other technologies with prospects for the financial market in order to enable their testing.
More information on the Innovation Hub Programme and the DLT Virtual Sandbox is available at www.fintech.gov.pl.
