• IOTA Foundation and FTI Consulting organize policy discussions on blockchain regulations with industry players and policymakers
• The report “Bridging the Gap Between Technology and Regulation With Dialogue” summarizes these discussions, focusing on topics such as NFT regulations, self-hosted wallets, regulatory clarity, global harmonization, etc.
• Tokenization presents exciting possibilities for the future of finance and investment but it is essential to ensure a responsible and regulated approach to realize its full potential.
Building Bridges for Blockchain Regulation
The IOTA Foundation together with FTI Consulting recently organized a series of policy discussions on blockchain regulations with industry players and policymakers. These dialogues sought to explore the future of NFT regulations, self-hosted wallets, regulatory clarity, global harmonization, etc.
Overview of Discussions
The key findings from these conversations were captured in the report titled “Bridging the Gap Between Technology and Regulation With Dialogue”. This document covers areas such as Decentralized Applications (DApps) and Non-Fungible Tokens (NFTs). It also discusses tokenization within the real economy alongside Rob Daykin (Nakama), Gianfranco Campos (Zignar Technologies) and Barbara Brandtner, Ernst Ferdinandusse (European Commission).
Regulatory Clarity & Global Harmonization
The third roundtable discussion focused on regulatory clarity and global harmonization to give users more confidence when confronted with problems related to digital assets or new tokens appearing in the network. The importance of distinguishing between open and closed systems was highlighted alongside compliance measures, governance structures, exchange of sensitive information etc.
Smart Contracts & Oracles
Blockchain technology can offer an enforcement mechanism through smart contracts based on data provided by custodians or oracles feeding information into the blockchain system. However trust must be placed in this data for any successful transaction to occur using this system.
Tokenization offers immense possibilities for finance & investments yet it is important that a responsible & regulated approach is taken in order to maximize its potential benefits while minimizing risks associated with it .