Blockchain Australia, the industry body representing local businesses and individuals participating in the technology, has again called on the government and regulators to provide more support for the local blockchain ecosystem.
Its CEO Steve Vallas told the Senate Select Committee on Financial Technology and Regulatory Technology, which is currently in its second round of reviewing the potential of fintech and regtech down under, that the federal government is the “cornerstone of confidence creation in this sector”.
Vallas believes Australia is “well placed” to become a tech-savvy economy, specifically in the blockchain space. But something that has hurt the nation, he said, is the lack of progress in the space in recent years.
He said the National Blockchain Roadmap, which was announced in February last year, was the first of many steps and that he has “enormously confidence in the ecosystem”. But he noted that more needed to be done to support blockchain.
“We are signalling, across the country and to the states, that this is something that people should be investing in,” he said. “That sort of approach needs to be coordinated across other government departments.
“I think we need more signals from regulators in particular that they’re willing to discuss this subject matter with people who are well versed in it.”
He’s concerned that governments internationally, by