Blockchain and the Impact on Economies and Government - a Q&A Dialogue

The adoption of new technologies that can impact economies at a large scale whatever they are requires mindful and responsible processes through appropriate stakeholders. Digital assets prevent a potential new paradigm and challenge for transferring value with numerous implications. This can be challenging as new policies are required and regulation rolled-out, and therefore several factors such as capacity building on technology, education and core required skills, as well as an underlying platform for basic infrastructure are necessary to ensure it can move from theory to practice. This can take time. Equally if other countries are adopting a pervasive trend more quickly than others, or don’t have encumbrance of legacy infrastructure or large historic investments in other skills or solutions, they can move more quickly. Wireless for example leapfrogged fixed line, systems of drones/UAVs versus traditional trucking logistics routes, etc. How does Australia, or any country ensure they get the balance between rapid adoption and responsible regulation and policy making right? What have other countries done well or poorly? What means, levers and mechanisms do these governments or central banks have to create a ‘sand-boxed’ environment to allow the growth of blockchain as a new industry to discover its own destiny as to whether it will live up to the expectations or find its natural course of adoption relevance.

Lead Participants

Jane Hume, Senator of Victoria
Ed Husic MP, Shadow Minister of the Digital Economy
Elizabeth Genia, Asst Governor Bank of PNG
Navin Beekarry, Director-General ICAC Mauritius

Intervention from

Yandraduth Googoolye, Governor of the Bank of Mauritius

Comments from

Caroline Malcolm, Blockchain Policy Centre OECD

Moderated by

Nik Gowing, Thinking the Unthinkable