Taiwan’s National Development Council (NDC) recently announced the launch of the Taiwan Blockchain Alliance platform, which aims to enhance connections between the government, academia and the blockchain industry.

As reported by Meet News, NDC Minister Chen Mei Ling said blockchain technology has been recognized by the World Economic Forum (WEF) as one of the emerging technologies of the fourth industrial revolution following the advent of the World Wide Web. 

Blockchain is Considered Key to Taiwan’s Transformation

Chen has cited blockchain as a major driving force of the digital economy, believing it will be key to the island’s industrial transformation as it becomes more widely adopted.

Some 40 blockchain-focused projects have so far been chosen this year for funding in the Angel Investor Program, which is backed by the National Development Fund. The Taiwan Blockchain Alliance is thus intended to serve as a bridge between the government and private sector.

One legislator, Karen Yu, called regulation “the biggest barrier to innovation” as she pushed for the removal of such obstacles, in order to allow local firms to more effectively thrive in the global market. 

Determining How Best to Regulate and Implement Blockchain

Regulation has been one of the primary concerns of alliance, according to Chen, who cited the platform as a means for discussing how best to regulate and implement blockchain as well as facilitate industry-academia cooperation. 

Moreover, the alliance can negotiate with government agencies at various levels to provide firms with the resources they need to advance blockchain development. This was also the field in which Chen believed public and private sector collaboration would be necessary.

Source: https://meet.bnext.com.tw

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