Japan All Set To Host Blockchain Global Governance Conference
Japan is preparing to host a world conference on a distributed ledger after the G20 leaders considered the importance of decentralized finance, and the ECB published its vision of a CBDC. The Japanese Financial Services Agency (FSA) associated with Nikkei Inc. to arrange a Blockchain Global Governance Conference (BG2C) on March 9 and 10.
On Monday, the FSA declared that it would conduct the blockchain conference in Tokyo and added,
“As stated in the G20 Osaka Leaders’ Declaration under Japan’s presidency within the international regulatory community, a consensus has been reached on the importance of engaging with various stakeholders in the decentralized financial ecosystem to ensure public policy objectives.”
The conference is stimulated by the G20 leaders’ Osaka summit earlier this year, which committed to discussing and acting on a digital/crypto economy. The leaders strive to get the multi-stakeholder governance model for a decentralized financial ecosystem. The BG2C is attempting to build a “neutral place” for crypto industry stakeholders to help increase their mutual understanding and work on improving cooperation.
The Japanese regulator said that is has been working on a Multilateral Joint Research Project (MJRP) for two years. It indicates taking a multi-pronged approach to blockchain research, including areas like anonymization, traceability, privacy, and security.
The FSA remarked further that the blockchain deployments would also spread to digital tokens and enterprises like supply chain, logistics, and trade finance.
It added that the conference would discuss different use cases for blockchain in a variety of business sectors and address existing and future applications of the same. It will also concentrate on solving underlying difficulties with the technology.
It wants to bring collectively a global group of stakeholders who actively engage in prominent blockchain projects like Bitcoin, Hyperledger, and Ethereum. It also seeks assistance from blockchain businesses, university researchers, regulators, and civil society.
The FSA currently organizes Blockchain Round-Table (BCRT), a global meeting that brings blockchain experts, regulators, and other stakeholders together.
The March meeting was attended by a group of industry members and stakeholders like the University of Cambridge, U.K. Financial Conduct Authority, MIT Media Lab, Banque de France, Financial Stability Board (FSB), Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Dubai Financial Service Authority, Hong Kong Monetary Authority, and Monetary Authority of Singapore.
Apart from this, FSA and Nikkei conduct a fintech meeting called FIN/SUM, discussing Japanese fintech progress.