Taiwan’s Parliament to Promote Blockchain

May 23, 2018

Parliamentarians of the People’s Republic of China have declared forming up a group aimed at promoting blockchain sector in the country.

The group was created at the initiative of the parliament member Jason Hsu and was named the Taiwan Parliamentary Coalition for Blockchain (TPCB). Hsu intends to gather together politicians from various parties of the country to elaborate unified regulations that will facilitate blockchain development and protect investors against possible risks.

Hsu is outright supporter of blockchain and cryptocurrencies and speaks his mind on the issue on regular basis. He believes, using these technologies will allow for the state to keep its competitive positions worldwide.

Secretary General of the government's legislative body Lin Chih-chia declared at the group launch ceremony, the initiative will have full-scale support from the parliament’s chair, Su Chia-chyuan.

“No matter what the blockchain initiative needs - whether it's human resources, financial resources, or a revision of current law - we will prioritize them for it to let the blockchain industry flourish so that it can be useful in Taiwan”, Lin said.

Remember that the country’s central bank used to test earlier blockchain for interbank transfers which finally showed that the technology is at the moment insufficiently effective and lads behind the already existing methods.

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