Business & Finance
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The Principality of Monaco is now completely connected to 5G, making it the first in the world to achieve total coverage with the high speed technology.
Deployed by Monaco Telecom, 5G is the first pillar of the ‘Extended Monaco’ program run by the Prince’s Government and aimed at bringing Monaco into the digital age.
Private and business customers are now able to access the new technology on compatible smartphones. But 5G will also be used across the board to improve the quality of life and services for those living in or visiting the Principality. For example, it will allow for selected connected bus shelters to offer free public WiFi, and eventually the installation of environmental sensors to monitor air quality.
Monaco Firefighters will be able to use 5G to operate surveillance drones equipped with high-definition cameras, as well as a pre-diagnosis application at the site of an incident, connected to the hospital to save time and improve the victims’ chances of survival.
And the self-driving eco-bus which is currently in service in the Rock will soon integrate the 5G technology.
Meanwhile, for companies based in Monaco, the deployment of 5G opens the door for possible new markets. For example, Teale, a start-up from MonacoTech, has shown that 5G in remote control installations can be used for better energy efficiency. Originally from Singapore, this start-up has now found the best ecosystem to launch its new solutions in Monaco.
“5G is not a simple improvement of the performance of 4G, it is a paradigm shift,” said Frédéric Genta, Interministerial Delegate in charge of the digital transition. “Where all previous generations focused on telecommunications and private exchanges, 5G is the embodiment of digital integration across all pillars of our society and economy. Energy, health, the media and transport will be transformed thanks to 5G … This offers the Principality, its inhabitants, its public policies and its economy immense possibilities for the good of all.”
“The future applications of 5G in the daily life of Monegasques are very promising,” added Martin Peronnet, General Manager of Monaco Telecom. “In parallel with the launch of 5G, Monaco Telecom continues to roll out its fiber network to offer a quality of service that is recognised as the best in the world.”
Monaco-based Panthera Solutions has been named ‘Best Financial Service Provider Europe’, excluding banks, by the international magazine The European.
New figures show that the Principality has recorded its ninth consecutive year in the black thanks to an extremely tight economic ship.
The outcome of Thursday’s UK general election will be a key talking point for markets near the end of the week, with a Conservative Party majority largely priced in financial markets.
Monaco-based Anastasios (Tassos) Economou has been elected chairman of the Board of Directors of YPO, a global leadership community for chief executives. It was announced earlier this week that Economou will be the 69th member to hold this office and will succeed current YPO Chairman Elizabeth Zucker. He will begin his term on 1st July 2020. A member […]