As reported by Cointelegraph, Mark Pascall, the executive director of Blockchain NZ, gave a presentation in May to the economic development, science and innovation select committee hearing of New Zealand’s parliament on the potential economic advantages of implementing blockchain solutions in the island country.
He also underscored the financial scope of blockchain technology in 2019, saying his group wants the government to take blockchain seriously so a balance can be struck between trying to plan for an unpredictable future and taking action to realize major economic benefits.
Blockchain NZ, a group of various blockchain-oriented businesses, organizations, and experts, was formed in 2016 and later voted to become part of the not-for-profit New Zealand Tech Alliance in 2018.
New Zealand has joined a growing number of countries which have either implemented or are in the process of implementing national blockchain strategies. In April 2018, the vice president and prime minister of the United Arab Emirates (UAE) and ruler of the Emirate of Dubai, Sheikh Mohammed bin Rashid, launched UAE Blockchain Strategy 2021, which aims to reduce government expenditures on documentation.
In February of this year, the German government revealed it would formulate a strategy by mid-219, with some parliamentarians of the Bundestag saying the plan should also include a framework for cryptocurrency trading.
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