May 22nd 2018, Taiwanese legislator Jason Hsu gathered representatives from the blockchain industries and legislator from different parties to have “Taiwan Parliamentary Coalition for Blockchain & Taiwan Crypto Blockchain Self-Regulatory Organization(TBSRO) Founding Reception”. By having legislator from different parties to support and cooperating with the industries, hoping to make Taiwan a better place.
Room Full of Stars
This reception had over 200 attendees, including legislators, representatives from central bank, law firms and accountancy firms, college professors and principals, government delegates, and guests from various industries.
The industry values this reception quite a lot. Leaders of the industries including CEO of Bianace CZ, president of Taiwan FinTech Association Ko-Yang Wang, Formosa Financial, Kyber Capital, BitoEX, Cobinhood and Maicoin attended as well.
The Legislation Yuan Supports the Growth of the Blockchain Industry
Legislator Jason Hsu stated, “Taiwan support the blockchain industry!”
Over twenty legislators from different parties expressed their full support. These legislators agreed anonymously that blockchain is the biggest breakthrough since the internet revolution and are willing to join and make Taiwan one of the base of blockchain.
Make Taiwan Great Again.
SRO Should Create a decentralized trusting environment.
Representatives from Switzerland and Malaysia and guest from the AIT said “ the main idea of SRO is to reconstruct the relationship of trust, the main issue that blockchain can solve, by the method of decentralized consensus to solve the third-party trust issue.
By involvement, dialectics, cooperation, and maintenance, under decentralized mechanism, it is possible that we can turn malignant competition into trust and cooperation. Leaders should set the standards of self-regulation, offer a trustworthy basis for the government, investors and the people. Self-regulation is the lowest moral standard, it shouldn’t hinder the growth of the industry.
Six Principles of Self-Regulatory Declaration
BlockTempo brings our readers the details of the declaration and the opinions from the industrial leaders.
The fallowing are the principles：
- In the terms of the law, one must abide by the rules of TBSRO and the law.
- In the terms of trust and faith, one must not mislead, deceive, or any other actions that might cause people to mistrust.
- In the terms of honest management, strengthen the security of the system and personal informations.
- In the terms of transparency, one must disclose the informations of investing risks.
- In the terms of confidentiality, secure the informations of investors and users.
- In the terms of fair competition, members of the TBSRO must avoid malignant competition actions.
The Industrial Leaders Express Their Support
Alex Liu, CEO of Maicoin, said, “ Taiwanese developers are good at what they do. With the concept of a decentralized future, the industry in Taiwan will thrive in the coming five years.”
Ko-Yang Wang pointed out, “ By a decentralized blockchain technology, we can get a consensus that we can trust even under a mechanism which no trust is involved.”
Ping Chen, chairman of TideiSun, mentioned, “Blockchain itself is just a technology. What’s important is, it has the potential of offering a truly democratic and liberal society.”
CZ also shared the key of Binance’s success with the attendees, “ We’ve been having talks with many countries and regulatory authorities, we’ve never seen such an open conversation, which brings me faith. In a place where there is no regulation, you have to do it yourself. That is the key to the success of Binance.”
The future of TBSRO
After TBSRO is founded, the industry should demonstrate their good will to the government with self-regulation. The regulatory authorities should help the blockchain industry to grow, cooperate with the industry to stop money laundering and fraudulent acts.
TBSRO also offers a well trusted platform for open informations, which will benefit the investors and make every participants in this industry better off.