The key to the development of the blockchain and cryptocurrency organizations is whether it can be supported by governments and international organizations. Observing the year of 2018, we can see that cryptocurrency prices collapsed as the SEC(United States Securities and Exchange Commission) began to target ICOs (Initial Coin Offering), requesting judicial authorities to begin a joint investigation. Regulation has become an important issue for the blockchain, and the United Nations seems to have a more open attitude towards cryptocurrency. Today (January 22), Alibaba’s founder Jack Ma was invited to discuss the blockchain and cryptocurrency with the UN.
According to Sina Finance’s article, “Jack Ma Hosts Meeting With UN Secretary-General On Development of Digital Economy“ 「馬雲聯合國主持會議：與聯合國秘書長論數字經濟發展」:
Jack Ma went to the United Nations General Assembly at the Palais des Nations in Geneva to host the second meeting of the United Nations Secretary-General’s High-level Panel on Digital Cooperation.
In his speech, Jack Ma asserted that any regulations formed in the digital technology field must be forward-looking, flexible and inclusive, going past strong regulation to enacting true intelligent supervision. He believes that digital technology is inclusive, and its positive, improving effects on human society far outweigh its problems and challenges.
Regarding the issue of digital economic regulation, Jack Ma believes that any laws must leave sufficient space for innovation. At present, many developing countries have not yet begun digitization and thus do not have a mature enough digital economy yet for successful and effective regulation that fits those countries’ needs to be developed. He compared the idea of making over-strict laws now to forcing a 3-year-old toddler to wear the same pair of shoes for the rest of its life: just like children, technology needs room to grow.
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