Blockchain Technology Regulatory Policy Helps Taiwan Become the Asian Blockchain Center

With the acceleration of urbanization, the global urbanization population has increased dramatically. This rapid urbanization has brought difficulties to the city government in the development of the country. In particular, the Asian region is deeply affected by these changes. It is estimated that nearly 500 million people will move into urban areas in the next few decades. This will be a daunting challenge. Using technological advances, such as blockchains and smart urban layouts, we are able to greatly expand the potential of urban transport. The important core of creating a “Glorious City” is the improvement of urbanization on a global scale. Even if you can’t ensure that you realize this ideal, moving from suburban to urban communities can bring huge personal satisfaction. The city provides the public with more economic opportunities, better education, and a more open portal.

Taiwan has always pursued a friendly regulatory policy for encryption and blockchain technology companies. As the government realizes that blockchain technology has potential in almost all major industries, it will help boost Taiwan’s economic growth. Taiwan’s economic development and monetary supervision experts have announced support for transforming Taiwan into a global blockchain industry center, and will standardize blockchain and computerized capital activities, using independent standards to help Taiwan successfully achieve its goals.

Although Taiwan has not yet announced any laws or guidelines, it explicitly manages the development of specific applications of blockchain technology, for example, the so-called cryptocurrency format. Taiwan’s financial regulators have issued several official statements reporting their positions and attitudes toward such developments to guide and inform the people of Taiwan.

Focusing on full ICT capability supply and detailed ICT supply chain, Taiwan has laid a solid foundation for the development and application of blockchain technology, including Taiwan’s new technology companies that have launched a series of imaginative blockchain layouts, including Agricultural production can identify systems, music copyrights, management systems, the Internet of Things, artificial intelligence and the era of green energy. In addition to leveraging investment risk assets to help improve the simplified blockchain ecosystem and allowing expanded use of open information for modern use, NDC will partner with Asian blockchain partners to develop new blockchain applications and plan private sector Can eliminate the fear of turnkey solutions and understand Taiwan’s vision as the focus of global blockchain development.

Taiwan’s regulations on encryption and blockchain

The Taiwan government has not drafted or passed any formal legislation on cryptocurrencies and blockchains. But with the help of Congressman Jason Hsu, the administration and important cryptocurrency organizations established the Taiwan Encrypted Blockchain Autonomy (TCBSRO) to develop high-quality industry benchmarks and practices. The Taiwan authorities have taken early steps to control the nearby cryptocurrency and blockchain industries to simplify the way the market is managed.

For a long time, Taiwan has been condemned by the global innovation field for lack of guidelines in the financial technology and innovation markets. Compared with Japan’s recognition of its shortcomings in the fields of financial technology and innovation, the Taiwan authorities have been trying to master the tricky technology in development.

In any case, the approval of the Innovation Progress Budget and Analysis Act allows the blockchain and encryption of new businesses to work long hours without management risks, indicating that the government is making significant progress in advancing financial technology guidelines and accelerating the adoption of potential encryption and blocks. The chain management structure should be sooner rather than later. Taiwanese Congressman Hsu, who supports encryption, held talks with the world’s largest cryptocurrency organizations, including Binance, to ensure that the community’s digital currency segment continues to grow rapidly with the support of the legislature.

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