Blockchain Group Wants New Zealand Govt To Create A Blockchain Strategy

Blockchain, Regulation | May 22, 2019 By:

BlockchainNZ, a member organization representing New Zealand-based blockchain companies, wants the government to research and prepare a blockchain strategy for New Zealand to get up to speed with other countries.

Mark Pascall, executive director of BlockchainNZ said he will give a presentation to the New Zealand parliament’s economic development, science and innovation select committee hearing on May 28 about the potential economic advantages of blockchain technology. The objective of his presentation is to help the committee understand the basics, starting at how bitcoin/blockchain works through to smart contracts, security tokens and decentralized autonomous organizations.

“We really want the government to take blockchain seriously and produce a strategy,” Pascall said. “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 realize 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.”

According to Pascall, BlockchainNZ has a number of international experts that are willing to help the government formulate this blockchain strategy.

“New Zealand is competing against many large and small countries around the globe and many of the opportunities can be boiled down to taking advantage of three key advantages that we have over many other countries,” Pascall said. “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.”