Monaco’s response to the economic fall-out from the coronavirus crisis has not gone unnoticed in the wider world of finance. The Financial Times reported at the weekend that the Principality is not only responding effectively to the health crisis but also planning ahead for a changed world, particularly in terms of digital security.

Referring to the launch last week of a new phase of the ongoing digitalisation programme, the FT notes that additional data security is a key element. Hervé Ordioni, Chairman of the Market Promotion Commission of the Association Monégasque des Activités Financières (AMAF), told the newspaper that Monaco has always focussed on security of assets and personal security “and in tomorrow’s world we need data security.”

Frédéric Genta, who leads the Principality’s digitalisation programme, noted that Monaco will be the “first European nation to have a sovereign cloud.”

This will add to its attractiveness for the very wealthy, as a secure place to do business and a safe place to live in terms of personal security, quality of life, and healthcare.