Page 111 - FerMUN 2020 - Futurecasters Global Young Visionaries Summit, 8th-10th January 2020

Countries or organizations involved in the debate:

Apple, Australia, Brazil, Canada, China, Colombia, Democratic Republic of Congo, Denmark,
Egypt, Finland, France, Germany, Google, Huawei, India, Indonesia, Iran, Ireland, Israel, Italy,
Japan, Kenya, Mexico, Netherlands, Nigeria, North Korea, Norway, Russia, Saudi Arabia,

Senegal, Singapore, South Africa, South Korea, Spain, Switzerland, Turkey, United Kingdom, USA

Countries of origin of the students:

Costa Rica, Côte d’Ivoire, Denmark, France, Italy, Kuwait, Morocco, Monaco, New Zealand,

Senegal, Spain, Switzerland, Turkey, United Arab Emirates, United Kingdom, USA

OUTCOME

“More national and international regulation”

Delegates worked to ensure that the users of digital financial services, especially those lacking
access to other forms of financial services, become the beneficiaries and not the victims of the
FinTech revolution. Debates focused on financial inclusion and integration, and a fair,

balanced implementation of FinTech at a global scale. One resolution passed out of the two
that were submitted. It included clauses focusing on government regulation to avoid abusive
actions led by FinTech companies, as well as advising the deployment of UN-led operations to
connect the unbanked to their national economy. More controversial ideas that were not

included in the final resolution, like the creation of international digital finance commissions,
financial aid to LIC’s, and regulations regarding the use of cryptocurrency in the FinTech
industry.

The second issue, has given rise to an enriching debate. Indeed, delegates saw that 5G is in
fact much more than a network and that it is a very expensive technology that can be as
promising as it is dangerous. Thus, there are many problems: who is responsible when the

network is faltering? How do we ensure that patients have confidence in e-health? How to
achieve the goals of SDGs with 5G in a world where achieving these goals is crucial? Two
resolutions were adopted. These propose to create a committee to establish international

regulations for the deployment of 5G so that it is not used to the detriment of another country,
to use recyclable materials and renewable energies in the development of infrastructures for
the implementation of 5G, and finally to increase the training of users in ethical and
cybersecurity issues in order to minimize the risks linked to its use.

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