{"id":168130,"date":"2018-08-31T03:00:15","date_gmt":"2018-08-31T07:00:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/crypto-congressman-trying-to-turn-taiwan-into-a-technological-powerhouse\/168130"},"modified":"2021-08-07T11:09:49","modified_gmt":"2021-08-07T15:09:49","slug":"crypto-congressman-trying-to-turn-taiwan-into-a-technological-powerhouse","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/crypto-congressman-trying-to-turn-taiwan-into-a-technological-powerhouse","title":{"rendered":"\u2018Crypto Congressman\u2019 Trying to Turn Taiwan into a Technological Powerhouse"},"content":{"rendered":"
\"Taiwanese<\/div>\n

Taiwanese Congressman Jason Hsu is on a mission to turn the island nation into a hub for blockchain tech and cryptocurrency.<\/strong><\/p>\n

\n

Jason Hsu, the man dubbed the \u2018Crypto Congressman\u2019 by Ethereum founder<\/a> Vitalik Buterin, is on a mission to turn Taiwan into a technological powerhouse<\/a>, specifically in the fields of virtual currency and blockchain.<\/p>\n

Since becoming an official Member of Parliament in 2016, Hsu has worked<\/a> to foster initiatives concerning autonomous vehicles, cybersecurity, and the digital economy \u2014 all in an effort to help close the gap between public policy and technology.<\/p>\n

Now, Hsu is laboring to bring crypto and blockchain to the forefront.<\/p>\n

Aside from launching a self-regulatory entity to help brainstorm exchange regulations, the so-called Crypto Congressman helped organize a coalition to support the blockchain industry.<\/p>\n

Bringing Crypto and Blockchain to the Forefront <\/strong><\/h3>\n

Hsu\u2019s work when it comes to cryptocurrency and blockchain has certainly not gone unnoticed.<\/p>\n

Hsu gained prominence after penning and announcing the Fintech Innovation Experimentation Act last year. The act\u00a0would give<\/a> financial technology start-ups the ability to apply to operate on a three-year trial period.<\/p>\n

A final version of the bill that included other legislator\u2019s drafts was passed<\/a> at the tail end of December. Hsu said the legislation would \u201cusher in a new era for Taiwan\u2019s financial technology.\u201d<\/p>\n

In a recent interview<\/a>, Hsu said his eye is now on drafting guidelines that will help exchanges regulate themselves in Taiwan, focusing on elements like information transparency, credit risk management, and prudent administration.<\/p>\n

\"Hsu<\/p>\n

Earlier in the year, Taiwan introduced a string<\/a> of regulations that were designed to combat money laundering, but authorities did not signal that a total ban<\/a> on digital currencies was coming.<\/p>\n

Hsu believes regulations must be enacted with an open mind since technology is \u201cevolving exponentially.\u201d<\/p>\n

He says governments should think about how to create an environment where citizens can feel like blockchain is apart of the daily lives, and then try to decide how to get the technology to developing countries.<\/p>\n

Taiwan\u2019s first public blockchain hearing<\/a>, designed to get discussion flowing about distributed ledgers, took place in 2016, but Hsu said education about the technology is still needed to make sure the public and governments know how to \u201cbehave in a conscious way.\u201d<\/p>\n

Special Economic Zone For Crypto & Blockchain <\/strong><\/h3>\n

One of Hsu\u2019s plans for Taiwan is the development of a \u201cspecial economic zone\u201d in the country that would serve as the headquarters for 200 blockchain companies.<\/p>\n

According to Hsu, plans are in the works to build a Taiwanese global ID that would make it possible for visas to function on the blockchain.<\/p>\n

Hsu also has done an extensive amount of traveling to voice his ideas for financial innovation and disruption.<\/p>\n

He recently visited entrepreneur Peter Thiel<\/a> in California to talk about the centralizing of mining power, and has given talks and speeches in and outside of Taiwan.<\/p>\n

\"Hsu<\/p>\n

Hsu is also fairly friendly with Buterin<\/a>, having been introduced after publicly asking the Ethereum founder to support blockchain and cryptocurrency in Taiwan.<\/p>\n

For Hsu, Buterin represents \u2018one of the few people left in the industry that remains true to the ideals that blockchain and crypto<\/a> were built upon.\u2019<\/p>\n

What do you think about Congressman Hsu\u2019s plans for Taiwan? Let us know your thoughts in the comments below!<\/strong><\/em><\/p>\n

\n

Images courtesy of Jason Hsu (Twitter), Shutterstock.<\/em><\/p>\n

The post \u2018Crypto Congressman\u2019 Trying to Turn Taiwan into a Technological Powerhouse<\/a> appeared first on Bitcoinist.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taiwanese Congressman Jason Hsu is on a mission to turn the island nation into a hub for blockchain tech and cryptocurrency. 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