Does that mean locally specific blockchains? Or a whole lot of regulatory failure in the future?
Regulation is local, which means regtech cannot be seamlessly global as public blockchains can be. Radically different beasts.
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Regulations that try to localize blockchains will indeed quite probably be spectacular failures, as will tech based on such ideas.
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Yeah, it's pretty hard to put "seamlessly global" back in the box.
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While everyone thinks bitcoin/open blockchains are disrupting banking, it's actually disrupting regulation itself even more directly
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I can't believe regtech is even a thing. Now deregtech I can see.
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They get left behind in the global tech ecosystem and watch other countries prosper
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not only is regulation local, but it is highly dependent upon interpretation by local bureaucrats, many of whom have a power complex.
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We need a global order, not confuse with global regulations. Order =|= regulationshttp://www.ted.com/talks/yuval_noah_harari_nationalism_vs_globalism_the_new_political_divide?language=en …
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If
#regulation became global, which it should, given the issues are the same globally,#regtech could be made seamlessly global.#Bitcoin -
If the World's leader didn't found consensus on 1) internet 2) tax heavens, what do u make suppose that this will happen globally?? No way.
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Regulation is slow and local. Tech is global and instant. This is an ongoing struggle we converse about on a routine basis.
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Could AI solve this? eg Watson learning all laws and adapting regtech company's user interface to any country's specific legislation
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AI unlikely to make diff in drafting regs, or setting direction of jurisdiction but will massively help interpretation on extraterritorial
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Regulation only ever increases. No block chain regulations
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And this is typically what we land on. Sadly, doesn't always seem to be that way *sigh*pic.twitter.com/1tIDQbdNp3
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