The Organisation for Economic Co-operation and Development (OECD) has announced on its website a blockchain policy forum that will take place in Paris on 4th and 5th September which it will broadcast live.
READ MORE: How does blockchain technology work?
“The OECD Blockchain Policy Forum is the first major international conference to take stock of blockchain’s impacts across the full range of government activities and public priorities,” says the organisation on its website.
“The Forum will address the benefits and risks of blockchain for our economies and societies, begin to identify good policy and regulatory approaches, and investigate uses in specific policy areas.”
The potential of the blockchain
The 36-member organisation, which includes the UK, US, France, Canada, Switzerland, Australia, Japan, Mexico, Germany and Austria, among others, states that blockchain has the potential to revolutionise how a wide range of industries function.
READ MORE: Survey shows four out of five companies want to be more involved in blockchain
“Its features can increase transparency and traceability, facilitate market access and improve the efficiency of transactions,” it adds.
“Fulfilling blockchain’s potential, however, depends on the integrity of the processes and requires adequate policies and measures to unleash this potential while addressing the risks of misuse.”
READ MORE: What can a blockchain do? Applications of blockchain
According to the economic-oriented organisation governments and the international community are expected to play a crucial role in drafting policy and regulations that reflect “emerging challenges and foster transparent, fair and stable markets as a basis for the use of blockchain”.
Over 400 experts
The OECD’s blockchain forum will bring together over 400 high-level decision-makers from the public and private sectors as well as experts, academics and other stakeholders. They will focus their debates on the potential global economic impact of blockchain; its implications on privacy and cybersecurity; how this technology can be used to enhance inclusiveness, green growth, sustainability and to bolster governance and enforcement of practices.
READ MORE: Regulators in 11 countries suddenly announce a global FinTech sandbox
The mission of the OECD is to promote policies that will improve the economic and social well-being of people around the world by providing a forum in which governments can work together to share experiences and seek solutions to common problems.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.