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2023 | OriginalPaper | Buchkapitel

24. Sandbox and Innovation Test Bed Case Study

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Abstract

Sandboxes are typically employed in cases where the emerging technology is potentially disruptive. It allows the testing of innovative technologies and business models that are not fully compliant with current rules and regulations, by providing temporary suspension of certain mandatory provisions or requirements for those who participate in the sandbox. The Regulatory Sandbox does therefore provide participants with regulatory clarity for innovations that do not neatly fit within existing frameworks and access to funding.

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Fußnoten
1
Leah Ngari (2021): Regulatory Sandboxes in Africa; https://​empowerafrica.​com/​regulatory-sandboxes-in-africa/​
 
2
Cristina Rosemberg, Xavier Potau, Samuel Leistner (2020): Regulatory Sandboxes and Innovation Testbeds, Inter-American Development Bank, p. 9. https://​publications.​iadb.​org/​publications/​english/​document/​Regulatory-Sandboxes-and-Innovation-Testbeds-A-Look-at-International-Experience-in-Latin-America-and-the-Caribbean.​pdf.
 
3
Cristina Rosemberg, Xavier Potau, Samuel Leistner (2020): Regulatory Sandboxes and Innovation Testbeds, Inter-American Development Bank, https://​publications.​iadb.​org/​publications/​english/​document/​Regulatory-Sandboxes-and-Innovation-Testbeds-A-Look-at-International-Experience-in-Latin-America-and-the-Caribbean.​pdf.
 
4
A beta test is the phase of testing of an insurance innovation in the regulatory sandbox through the use, sale, license, or availability of the insurance innovation by or to clients or consumers under the supervision of the department.
 
5
Laura Foggan, Rachael Padgett (2019): Kentucky Enacts First US Insurtech Sandbox; https://​www.​crowell.​com/​NewsEvents/​AlertsNewsletter​s/​all/​Kentucky-Enacts-First-US-Insurtech-Sandbox.
 
6
In addition to Arizona and North Carolina, regulatory sandboxes have also been created in Florida, Hawaii, Kentucky, Nevada, Utah, Vermont, West Virginia, and Wyoming.
 
7
Ian Mundell (2022): The Ecosystem: challenging tech? There’s a sandbox for that, https://​sciencebusiness.​net/​news/​ecosystem-challenging-tech-theres-sandbox.
 
8
Valdis Dombrovskis (2020): EU Framework for Experimentation, European Banking Foundation, https://​www.​ebf.​eu/​priorities/​innovation-cybersecurity/​eu-framework-for-experimentation/​.
 
10
Critina Rosenberg, Aaron Vinnick, Felix Dikskal (2020): Regulatory Sandboxes and Innovation Testbeds: A Look at International Experience in Latin America and the Caribbean, at: https://​www.​researchgate.​net/​publication/​343856457.
 
Metadaten
Titel
Sandbox and Innovation Test Bed Case Study
verfasst von
Felix I. Lessambo
Copyright-Jahr
2023
DOI
https://doi.org/10.1007/978-3-031-25428-4_24