2018

18 December 2018
Beyond the hype – analysing Bitcoin, Ether and Monero
After the initial gold rush for cryptocurrencies, disillusionment has now spread and the realisation that only a rocky path leads to mature markets. The prerequisite for this is experienced investors whose understanding extends beyond the established buzzwords. Bitcoin, Ether and Monero are among the most popular digital currencies, and their analysis marks another step in...
5 December 2018
Promoting payment innovation and adjusting legal requirements | PSD2 series #2
Account-servicing payment service providers (ASPSP) such as banks are de facto payment service providers (PSP). PSD2 creates new licences for TPP, allowing them to provide new types of financial services, licenced processes and audits. This article reviews the general rules and requirements for registering a PSP and analyses the implications of the new licences for...
22 November 2018
“The job interview took place in the garage”
Bank Frick is celebrating its 20th anniversary. Chairman of the Board of Directors Mario Frick and CEO Edi Wögerer look back at two decades of entrepreneurial banking. They explain why a company’s vision cannot simply be tokenism, how they generate added value for financial intermediaries, and why blockchain no longer has to be like the...
19 November 2018
Sustainability is a must
The third record summer in this still relatively new century ensured that it is not only environmental activists, scientists and isolated media or politicians who are highlighting climate issues. The topic has finally become part of the mainstream. For many people, their enjoyment of the nice weather is tempered by worries about the future. Melting...
15 November 2018
«Digitalisation does not work without a change in culture»
Mathias Gläser is Vice-Chairman of the Swiss chapter of the CDO Club and thus chief networker of the guild of chief digital officers (CDOs). In the Bank Frick blog, he talks about digital islands, the pioneering role of the industrial sector in the area of digitalisation and the important pilot function of CDOs at companies....
31 October 2018
Why ratings for ICOs would make sense
Raising finance for innovative projects is key for businesses, but it is also vital for securing a national economy’s power to innovate. Raising risk capital has a particularly important role to play here. For many years, young businesses primarily turned to venture capitalists, angel investors or early-stage investors for capital. Recently, the initial coin offering...
8 October 2018
Pragmatism in the blockchain hype
His priority used to be guest hospitality, but today Michael Dolzer is at the forefront of technological development at Bank Frick. He believes that soon everyone in Liechtenstein will be paying with cryptocurrency. “I’m Head of Business Technologies and Innovation Management,” says Michael Dolzer, introducing himself. Upon seeing the clueless look on my face he...
17 September 2018
«Specialisation in niches is becoming more important»
In her interview with “next-step”, the magazine of the Liechtenstein Office for Vocational Training and Counselling, Melanie Gstöhl spoke about career planning, new technology and why she treats herself to something good. next-step: Melanie Gstöhl, when you worked at Bank Frick over 10 years ago as an employee in what was then the Finance and...
31 July 2018
What are PSD2’s direct impacts on banking business? | PSD2 series #1
Administered by the European Commission to regulate all payment service providers, the 2018 Payment Service Directive 2 serves new providers increasing pan-European competition, regulating their participation and harmonizing consumer protection. Liechtenstein therefore has a role to play to enhance transparency and traceability of payment transactions – both as a bridge between EU/EEA/Switzerland thus becoming the...
4 July 2018
Any good blockchain law is a night watchman law
Liechtenstein is drafting the first legislation to regulate business models founded on blockchains. A well-considered, pragmatic law is useful for the blockchain sector and good for Liechtenstein as a business location. It provides a firm basis. But things keep moving quickly in the blockchain world. The first reaction could be to reject out of hand...
15 June 2018
Decentralisation forestalls double-spending
The groundbreaking element of blockchain, cryptocurrencies and decentralization is the way a network of unknown members can make a unanimous decision without intermediaries. In cryptography, there is a theory that states that anything that can be done with a central party can also be done without a central party. This fundamental principle underpins the much-hyped...
22 May 2018
«Fear of new technologies can be an obstacle»
In an interview with the online magazine BTC-ECHO, Hubert Büchel explained why other banks are still sceptical about blockchain technology, why a bank is ideal for the safekeeping of cryptoassets and why not every exchange can trade security tokens. Custodian for crypto assets BTC-ECHO: Mr Büchel, can you explain to us what exactly a custodian...
11 May 2018
Institutional investors can create added value with crowdlending
Crowdlending, which is also known as marketplace lending, has now arrived in the institutional investment sector, too. The returns that can be achieved with this alternative form of investment are often significantly higher than those of traditional investments. Risks can be effectively reduced by means of broad diversification and price development has hardly any correlation...