Taiwan launches cross-party alliance to develop blockchain technology

Hsu hopes to encourage global cryptocurrency exchanges to base themselves in Taiwan and for the industry to serve as a magnet for both investment and attracting talent to the country.

Taiwan has launched a new cross-party alliance which will facilitate the development of blockchain technology in Taiwan, and it will also safeguard investors in the country.

Taiwan Parliamentary Coalition for Blockchain (TPCB) is being spearheaded by Hsu Yu-Jen a member of the Legislative Yuan, who is also the co-founder of TEDx Taipei and a former employee of Taiwan News.

Hsu a follower of blockchain and cryptocurrency technologies said that it could be crucial for Taiwan that it remain competitive in these fields of technology at the global stage. Hsu made his views clear by his tweets regarding making Taiwan a “crypto-nation” and a “blockchain island”.

Hsu hopes to encourage global cryptocurrency exchanges to base themselves in Taiwan and for the industry to serve as a magnet for both investment and attracting talent to the country.

At the launch of the Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO), Hsu said that TCBSRO is intended to establish a transparent, fair and reliable cryptocurrency and blockchain market in Taiwan which meets international standards but also ensure that there are adequate safeguards in place to protect investors.

In Taiwan, the potential economic benefits of blockchain are huge. It is fast-growing sector and offers real opportunities to bring high-end jobs, significant investment, and sizable tax return into Taiwan.