Taiwan appears to be exploring greater official support for blockchain. Taiwanese National Development Council (NDC) announced that it is in the midst of forming a blockchain alliance, which should be ready in three months’ time.
Formed in 2014, NDC is the policy-planning agency of the Taiwanese government’s executive branch, which is also known as the Executive Yuan.
According to Taiwanese media, NDC Minister Chen Mei-ling said the council has already consulted experts, academics, and other government departments on the matter. She was speaking during her visit to the Smart City Summit & Expo in Taipei on March 26.
She was also reported as saying that with this alliance strategy, NDC hopes to gain a leading role for Taiwan in the development of global blockchain technology, and use it to improve public governance. She stated that blockchain could be deployed to enhance areas such as food safety and produce tracing, for example, to help the Council of Agriculture track product origins.
Earlier this month, Taiwan’s Financial Supervisory Commission (FSC) said it will set up a new fundraising mechanism modeled on security token offerings (STOs). FSC is Taiwan’s main financial regulator, and is an independent government agency answerable to the Executive Yuan.