The European Commission’s financial technology and the DLT survey show different views of financial firms


nnnThe European Commission completed the financial technology public consultation project research, summed up the current mainstream view that the block chain distributed books technology is the most potential of the field of financial technology. Only for technical supervision and follow-up development there are some differences. However, industry standards and regulatory participation are well developed in this area.n
nnTranslation: Annie_Xun
nThe European Union (EU) executive body formally completed the financial technology and distributed books technology (DLT) public consultation project, the results will be open.n
nThe public consultation on the FinTech: a more competitive and innovative European financial sector, in the form of a questionnaire to understand the block chain and DLT in the “financial technology public consultation: more innovative and competitive European financial sector” Within the common view of financial technology, any consumer and business can participate.n
nThe company and agency will openly comment on the regulatory barriers and risks of DLT, including Euroclear, EACH (European Association of CCP Clearing Houses), EPIF (European balance Institutions Federation) and European Consumer Voice in Standardization.n
nThe March-initiated survey asked participants to answer questions about the “What are the most promising use cases for financial technology”, “which DLT applications could provide opportunities for small and medium-sized enterprises”, “what is the main regulatory barrier to DLT solution development” , Such problems.n
nIt seems that the current comment is optimistic about the development of DLT, and most of the responses call it the most promising use case for financial technology because it can reduce costs and increase efficiency.n
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nRegulatory differencesn
nThe most important comment, however, is an answer to the role of the European government in the transition to DLT, because there is a huge disagreement about the future direction.n
nEACH, a central member of the European Central Bank’s central counterparty, has supported the private market to take the lead in assessing and deploying the technology. Regulators will play an important role in the licensing block chain system, which must ensure that block-chain technology can be used to monitor such systems.n
nOn the contrary, on behalf of the payment agency EPIF said, the need for more powerful force to promote market development.n
n”The lack of regulatory guidance or government intervention hinders the maturity, availability and security of the encrypted currency.”n
nPublicly examining the block chain technology and participating in the research deal after the giant Euroclear supports the way to wait for observation.n
nn”Regulators will need to pay close attention to the links between the transaction, clearing and clearing service providers; because if different parts of the value chain are at different times, different approaches to DLT, without standardized business practices, may create operational risks.”n
nnIt is unclear whether there are other comments or even more powerful views.n

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