Blockchain Week Day 1: Memorable Quotes
2023 Blockchain Week festivities continue this week with a successful Day 1 in
At Day 1,
our strategy is focused on improving customer experience… in the last 5 years we have had more than 150 patents awarded… our focus areas is enabling digital currency to use our cards to spend crypto currency on our rails. Another strategy is using our card to top up digital wallets.
[the Australian Government] are prioritising the regulation of stablecoins which are most cash-like.
And that:
The regulatory challenge for government is supporting innovation and protect consumers with simple regulatory systems. The token mapping consultation shows a path to regulation under time tested rules… stablecoins and lenders and borrowers are similar enough to traditional regulated systems. Intermediaries involving custody, clearing trading and settlement are close to existing systems.
In an interview between the Australian Financial Review’s
When you think about the opportunity for the bank… if I’m a customer I have all my assets in the bank, if this extends to a digital wallet … it doesn’t matter what you are holding … banks can capture the range of Web3 value in their offering.
And on the US regulatory issues:
The situation in the US is highly political, in my view that’s the core of it. The
NSW hosts more than half of all blockchain businesses in
And that the NSW is looking to become more involved in the space:
Blockchain is already driving transformative change…it’s fundamentally changing the way people work and government needs and wants to be part of that change. NSW’s ongoing prosperity will depend on harnessing that growth.
The CEO of Independent Reserve, Adrian Przelozny, is confident that more investment is coming:
It’s becoming more and more obvious the institutions are coming … [r]egulations will force exchanges to operate at a higher standard.
Day 2 is Community Day, with Day 3 covering community in
Find out more about Blockchain week here.
Blockchain Week:
Blockchain Week 2023 has kicked off in
Hosted by Dr
The ASX is set to release an update solution design for the CHESS system by the end of the year which will, according to
Blockchain is already changing how people live and work, and the government wants to be a part of that change.
The panel on the evolution of financial services was moderated by
The panellists agreed that blockchain technology is not going away, and according to
Blockchain is not yet mainstream but very influential…all major banks now have a digital assets team.
potential for blockchain to replace existing centralised systems [with] tremendous operational efficiency
The panel agreed that the “high-growth underserved markets” such as the carbon credit market, illiquid markets or private markets are well-suited for blockchain adoption.
Interestingly, in discussing the long road for mainstream adoption,
In discussing the parts of blockchain technology that are here to stay,
The panel were in agreement that the adoption and development of blockchain technology requires significant government involvement by way of certain and fit for purpose regulation which can frame the parameters through which banks can grow in this space and help ensure crypto-asset providers can secure payment and banking services and help slow scams currently impacting
US plans to form
On 20 June the United States officially announced their plans to establish a
The organisation intends to target darknet drug vendors and crimes enabled by cryptocurrency, including money laundering, data theft and child exploitation. It was reported:
Federal agencies in
Our agents excel in addressing sophisticated cyber-related schemes and are up to the challenge of locating and apprehending criminals who try to hide in the digital world.
Law enforcement agencies around the globe have been moving towards establishing specialised units to tackle the use of crypto-assets by criminals who don’t seem to realise how traceable crypto-assets are, with
What will be closely followed is the metrics the task force chooses to use to measure performance and how that metric tracks over time.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
Mr
Level 23
2000
Tel: 29253 9999
Fax: 29253 9900
URL: piperalderman.com.au
© Mondaq Ltd, 2023 – Tel. +44 (0)20 8544 8300 – http://www.mondaq.com, source
