##fr ), which will take effect at the same time as mica. the traceability of funds and transactions enabled by blockchain technology is compromised by the ease with which new addresses can be created - sometimes without identity checks or verification of the origin of the funds deposited - and by various concealment techniques. innovation could play a positive role here. digital identity solutions, based on advances in cryptographic proof techniques, could facilitate the direct implementation of " know your customer " ( kyc ) obligations on the blockchain. they could thus make it possible to reconcile the identification of individuals involved in blockchain transactions, for aml / cft purposes, with privacy protection requirements. * * * ii / as we can see from this last example, while it is necessary to strengthen operational resilience, this in no way prevents you, fintechs, from designing tomorrow's business 2 / 4 bis - central bankers'speeches models and technological solutions. a / in this area and others, the banque de france and the acpr stand alongside the fintech ecosystem, first and foremost by contributing to the development of a regulatory framework that fosters innovation while protecting consumers. a good example of this approach is " open finance ". the financial data access ( fida ) proposal, published by the european commission on 28 june, aims to facilitate access to financial data. this is clearly an opportunity for fintechs to deploy their creativity and agility, in order to offer consumers innovative financial services within a secure framework. one initial reason for the banque de france and the acpr to be satisfied is that lessons have been learned from the mixed results of the implementation of the open banking policy set out in psd2. indeed the key aspect of the proposal are the data sharing schemes, which data holders and users will have to develop together, and to which they will then be obliged to adhere. the system seems fair, with, on the one hand, the principle of paying for the use of data - which should encourage the players to work together in a concerted manner - and, on the other, the guarantee that the amounts will be limited and regulated. at the same time, fida establishes a protective framework for customers, which responds to a key concern of the acpr. consumers will thus be able to choose whether or not to share their data, and will have access to a dashboard that makes it easier to view and manage the rights granted. similarly, data sharing will have

to take place within a secure framework, which means in particular that data users will have to be authorised, for example under the new financial information service provider ( fisp ) status. b / preparing for the future also means exploring the potential benefits of new technologies, such as generative ai. this has the potential to bring about a real revolution. this is why the banque de france, via an innovation platform operated by its lab, launched a call for contributions in may 2023 on the uses and impacts of generative ai on its activities. aimed at the innovative ecosystem, it seeks on the one hand to refine our understanding of this technology and, on the other, to accelerate its potential use, by proposing concrete use cases and even operational solutions. a generative ai platform, a specialised functional solution and a tool for auditing generative ai : the three french companies selected in this call for contributions will help us to develop solutions tailored to our missions. for the fintech sector, this new technology should lead to a host of new uses, notably thanks to new ways of interacting with customers and personalising products. i am sure that you will seize this opportunity, and seize it responsibly. of course, this new technology is not without its risks. some of these will no doubt be governed by the forthcoming eu artificial intelligence act. in all events, the new tools developed by the financial sector will have to respect a certain number of principles. i would like to mention one such principle, which is fundamental for us : algorithms must always be developed in the interests of the customer, which means in particular that they must always enable the customer to make informed choices. 3 / 4 bis - central bankers'speeches in this respect, we must be wary of preconceptions. our research has shown, for example, that the automated explanations provided in chats, as attractive as they may be, do not always enable customers to properly assess the suitability of the products on offer for their personal situation. * * * it's time for me to wrap up with a simple message : even if times are gloomy, we must remain confident, especially as the future holds many opportunities for the fintech sector. in any case, we are committed to always being there for you, to support you as best we can, in times of calm and in stormy weather. 4 / 4 bis - central bankers'speeches