Blockchain group from New Zealand demands government regulation

BlockchainNZ, a blockchain group from New Zealand, wants the local government to create a blockchain strategy. According to a press release, this is to get New Zealand “up to speed with other countries.”

Helping them out

Not only is executive director Mark Pascall asking the government to regulate, but he’s also offering to help them do so. Pascall says that his company has more than enough experts to help the government create regulation. From there, they can spend time helping users learn to buy cryptocurrency.

A comment on Pascall’s intentions:

“So, we really want government to take blockchain seriously and produce a strategy. We can help them with that so we strike a balance between trying to plan for an unpredictable future and taking some action so we realise huge potential economic benefits for the country. France are doing some great stuff in this space and we want all of New Zealand to be blockchain savvy.”

Pascall will live-stream his presentation to the government, which will take place next week. His goal is to explain the basic fundamentals of blockchain, security tokens, and much more.

He’ll continue, detailing how Bitcoin and other cryptos have moved far past conversations of illicit usage. Instead, he wants to focus on blockchain’s positives.

“The blockchain technology that underpins bitcoin now offers a fundamentally new way to build software that has the potential to change the way organisations, government and society operate,” says Pascall. He continues, “over the last few thousand years we have moved from a decentralised hunter-gatherer society to a highly centralised global village where huge data, power and wealth is now in the control of a small number of global mega corporations such as Google, Facebook and Amazon and government super powers.”

David and the many Goliaths

Overall, Pascall claims that New Zealand is small and will “compete” against the rest of the world. However, that small size is an advantage to him, as it’s easier to get citizens to participate and be vocal:

“Our small size and therefore agility. The reality is that it’s relatively easy to get key people in the public and private sectors together and make decisions. Our international brand of trust and integrity. New Zealand is known for its stable government and low corruption. Blockchain is all about trust.”

This would be a great step forward for cryptocurrencies. Who knows? Maybe we’ll see New Zealand lead in the world of online trading.