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Megan Gordon, Partner and one of the leaders in the Clifford Chance US technology practice, joins us for our ongoing series – FTT Chats – where we sit down with the great and the good of FinTech to discuss innovation, new entrants, and emerging technologies.
Looking at the new entrants into the financial services sector, Gordon points out the role of technology in the proliferation of financial services and how that has improved access to financial services in the US and around the world. She also touched on the rise and potential of digital currencies – which are still in their infancy, the rise of tokenization when it comes to securities and, crucially, data. The sheer amount of data collected and leveraged brings both opportunity and concerns.
We discussed the need for a consideration of the ethics to be considered in the design and use of technology and how that needs to evolve over time. Using the example of Facebook, Gordon points out that no one could have foreseen at its founding that it could be used by a foreign government to influence a US election.
She also noted the key issues of privacy, discrimination, a consideration of how criminals may leverage technology for nefarious purposes and consumer protection. These are important considerations when it comes to the design and use of technology ‘Not just because it’s the right thing to do but it’s also the best thing to do…”
Hear more from Megan Gordon as part of the Technology & Ethics discussion at FTT Virtual North America. Register here now.