No #12

The Financial Daily - - CONTINUATIONS -

"We fore­see a fu­ture whereby in­di­vid­u­als, busi­nesses and or­gan­i­sa­tions world­wide will seek to store their dig­i­tal as­sets (in­tel­lec­tual prop­erty, in­ven­tions, trade se­crets, etc.) in Switzer­land," she said.

Deka said this would trans­form Switzer­land from a haven for stor­ing phys­i­cal as­sets such as works of art, gold and liq­uid cash to a hub of data stor­age.

"Within the next 25 years, a ma­jor­ity of the of as­sets that will be saved in Switzer­land will be dig­i­tal rather than phys­i­cal," Deka said.

Pro­tonMail, a free web-based mail ser­vice of­fer­ing client-based en­cryp­tion to pro­tect emails and data and which counts more than 300,000 users around the world, says that is why it chose Switzer­land for its base.

"The cul­ture of re­spect­ing pri­vacy is very im­por­tant," said Pro­tonMail chief Andy Yen, point­ing out that re­cent pro­pos­als from Wash­ing­ton and Lon­don to ban en­cryp­tion "would be un­think­able in Switzer­land".

But ex­perts say that in today's rapidly chang­ing elec­tronic world, noth­ing is 100 per­cent fool­proof or safe.

"We have to ad­mit that in our present so­ci­eties, to­tal and ab­so­lute pro­tec­tion is im­pos­si­ble," said Jean-Henry Morin, a pro­fes­sor of in­for­ma­tion sys­tems at Geneva Univer­sity, re­fer­ring to the re­cent cy­ber at­tack on Sony, the big­gest in US cor­po­rate his-

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