Taiwan needs regulators to step up on blockchain
Blockchain, one of the emerging disruptive forces alongside AI and big data, is revolutionizing our financial systems, industries, and cities to their core. As global players rush to tap into the potential of distributed ledger technology (DLT) and blockchain, in Taiwan, the blockchain craze is still simmering quietly.
Over the weekend (31 Mar—01 Apr), Taipei hosted its first major blockchain event, BlockCity, co-organized by blockchain accelerator Blockcamp.io and local blockchain media BlockTempo. The event welcomed entrepreneurs, industry leaders, and a group of avid blockchain advocates from high schoolers to tech veterans to share their thoughts on the current state of the technology in Taiwan and how to help promote the technology. The event, which was themed around smart cities and fintech, featured panel discussions, workshops, exhibitions, and a hackathon.
Taiwan’s techies have been waiting for an event like this for a long time—although a self-proclaimed “high-tech island,” Taiwan’s blockchain industry is still nascent and there haven’t been many events to promote conversations and engage local communities. The Taiwanese government has a track record of taking the wait-and-see approach when it comes to emerging technologies. And so during the two-day event, the conversations that stood out circled around educating legislators, establishing a regulatory framework, and other preliminary issues.
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