The Balance Between Regulations & Disruption
Regulating Blockchain Innovation
While blockchain technology has the potential to revolutionize the world, the ecosystem is still very much in its infancy. To allow innovation to thrive, it’s important to set the right environment. The lack of regulation and — on the flip-side — over-regulations caused disruption and false-starts in the space.
How do we find balance between regulation and innovation? How much regulation is necessary until it becomes an outright hindrance? In this article, we discuss these queries in comparison with other ecosystems, while particularly focusing on South East Asia.
This topic was discussed during a panel at Beyond Blocks Summit Seoul ’18.
Regulation is a highly discussed topic when it comes to blockchain and crypto-currencies, and it seems like governments are constantly shifting their stance on the matter. Having either heavy regulations or a lack of regulations won’t have a positive effect on the ecosystem.
One interesting country — (when) talking about the stance on regulations — is China. Read more about the current stance of Asian and Western countries on our other blogpost Beyond Blocks Blog on Regulations: East vs West
Elaborating on his statement, Arrington said (in another panel): “There’s a lot of bad stuff happening that needs to be regulated, but having no regulations also caused all of this creativity. …Try to regulate just the really bad stuff”.
On the same panel, Dovey Wan added: “I’m not pro-regulation, but it is necessary to protect retail investors from fraud.”
For an exclusive interview with Michael Arrington, click here
The uncertainty is still lingering over, but the ‘consensus’ here is/was that ‘sensible’ regulations are coming soon. However, much more time and close collaboration is needed in order to clear the uncertainty. Regulators are working on frameworks and putting a conscious effort into engaging and understanding what’s happening and needed in the space. Everyone wants a healthy and balanced ecosystem to work and grow in.
Read the full article on our blog
https://beyondblocks.com/regulating-blockchain-innovation-the-balance-between-regulations-disruption/
At Beyond Blocks Summit Seoul, we also did an interview with FinTech advisor to the Bermuda Government and Industry Chair of the Australian Digital Commerce Association; Loretta Joseph. You can watch it here!
Beyond Blocks will be hosting the next major blockchain conference in the heart of Bangkok, at the InterContinental hotel. After this sold-out, record-breaking event in Seoul, the momentum continues it’s way to Bangkok, where the world will witness exactly why Southeast Asia is the region on the rise for blockchain innovation.
Beyond Blocks Summit Bangkok 2018
- Dates: November 26–27, 2018 (2 days)
- Venue: The InterContinental Bangkok
- Tickets: Visit the official Beyond Blocks Summit Bangkok website now to book your ticket.
- Sponsor or Media? Reach out to us at contact@beyondblocks.com
