Published on May 14th, 2018 | by bitcoin0
European Union and US Lawmakers Promote ‘Sandbox’ Technique for Blockchain Development
International lawmakers speaking at CoinDesk’s Consensus 2018 conference today argued that regulatory “sandboxes” may offer the best approach for blockchain innovation in the absence of official guidance.
The lawmaker continued to explain that his own state of Arizona is already taking a sandbox approach, which allows applications of innovations including blockchain technology to be experimented with in a supervised environment with trusted business partners.
Sharing her experience of working with EU legislators on advancing blockchain technology, she said “in the next few years we’ll have harmonization, sandboxes and regulation.”
However, one obstacle, as Kaili explained, comes down to EU lawmakers’ lack of knowledge on the subject of blockchain.
“It’s really difficult to educate every politician on blockchain technology … And plus we don’t have too many scientists within the European Parliament,” Kaili said.