As different jurisdictions around the world continue to discover the potential of blockchain technology to spark industrial reforms; authorities are already preparing to not only participate in but also to dominate the space.
One of such is the National Development Council (NDC) of Taiwan which will in June create a new blockchain association as part of the country’s effort to explore the potential applications of blockchain technology.
According to Taiwan News, plans for the new association was confirmed by Minister Chen Mei-ling on Tuesday while speaking to the audience at the Smart City Summit & Expo held in Taipei.
Chen noted that the NDC has consulted with other government departments as well as academics and experts who they believe can contribute effectively to the goals of the soon to be formed blockchain association.
She also highlighted some areas where Taiwan can apply blockchain technology in its quest to play a leading role in the emerging industry namely, public governance and food safety.
Specifically, Chen said that the new technology could help the Taiwan Council of Agriculture to establish a blockchain-based resume that allows the tracing of food products from its origin.
The report asserts that Taiwan's blockchain ambitions will resemble the “Blockchain Strategy 2020” which Dubai announced last year to explore how it's government can use the technology to improve government policies.
Meanwhile, Stmarket.co reported in January that the Italian Ministry of Economic Development created made a move similar to Taiwan's when it created a blockchain advisory board consisting of thirty experts from different industries.
More recently, the Swiss Federal Council began the process of updating existing regulations with laws that will encourage local companies to participate in the blockchain industry.
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