Interventions

Technology: 'Buy European' is possible

by Giacomo Chiorino*

Adobestock

3' min read

Translated by AI
Versione italiana

3' min read

Translated by AI
Versione italiana

The EU's 'Made in Europe' plan, on the launch pad in recent months, aims at a real reconstruction of the sovereignty of European manufacturing, the flagship of our economy, and impacts companies producing goods and services.

A very good idea. What can we consumers do instead to help Europe become stronger and more independent and to get it out of this very uncomfortable position of 'buffer' between the increasingly unreliable America and the increasingly strong Asia?

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Our thesis is that on the consumption side it is often a question of habit that keeps us anchored to non-European suppliers, of inconvenience and the time it takes to change. Not a question of product quality.

We have done a lengthy analysis in the field in order to show how the 'Buy European' is applicable to many sectors and we show this for one of the most 'difficult' areas, namely technology, a sector dominated by other countries and where Europe apparently offers little.

We think that thinking in the medium term about what it means to use a European company, especially in the current geopolitical scenario, makes a lot of sense. What would happen to your life if Alphabet decided to pull the plug on your account and your Gmail? Either by your own decision or imposed by someone else. What problems would you face? How much information would you lose? How many services you access would have to be reset?

By thoroughly analysing four different areas (browsers, e-mail providers, messaging and digital payments) we found that the alternatives are there:

- Browser: Tired of handing over your data to the almost monopolist Google (USA, 65% market share) or to Apple on your Iphone (Safari, USA, 17%) or to Microsoft (Hedge, USA, 5%)? You have various European alternatives, the best of which seem to us to be Vivaldi (Norwegian, hyper-customisable, very secure and privacy-protecting on the side of your data) and Qwant (France, a pure search engine that also works well on mobile).

- E-mail providers: European alternatives to the giants Gmail, Yahoo, Icloud or Me.com (all made in the USA) are not lacking. Proton Mail offers an excellent service and also Swiss privacy security. The German Tuta Mail and Mailbox.org are considered very secure and have been built with a focus on data encryption.

- Messaging: to date it seems impossible to find alternatives to WhatsApp (USA), but in Europe on the privacy and security side we are further ahead. There is Threema (Switzerland), 12 million users and 2000 companies or schools using it on a large scale, it works with end-to-end encryption, and there is no need to register a phone number or email address. Wire (Switzerland and Germany), 20 million users, perfect for corporate messaging and video conferencing as an alternative to Teams (USA), with extreme attention to privacy and internal data.

- Digital payments: here, Europe is a technological powerhouse that is often underestimated because, thanks to regulations such as PSD2, it has favoured the emergence of solutions that today compete on a par with (and in some cases surpass) the US giants. The most emblematic case is Adyen, the Dutch platform that rivals Stripe (USA) and the very expensive PayPal (USA) in terms of commissions, which in a single technological platform directly connects merchants to the various world payment circuits, simplifying the management of e-commerce and physical points of sale. Or there is Wero, the new European payment system born of the EPI (European Payments Initiative), which proposes itself as the direct alternative to the Visa/Mastercard circuits, allowing instant account-to-account payments via smartphone. Nexi (Italia) is also a major player that has bought several competitors and grown a lot in the last decade.

(*) Expert in economic analysis at Banca Patrimoni Sella

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