[BGIN-general] Paper on governance for blockchain based financial systems
高梨 佑太(TAKANASHI Yuta)
yuta.takanashi at fsa.go.jp
Mon Jul 13 00:17:58 CDT 2020
Thank you for the e-mail below.
I would strongly agree that resolution is one of the important issues we should give careful considerations.
I guess we can develop some scenarios that could lead failure of the system including but not limited to business failures, technical failures, hacking incidents, and collapse of the governing bodies/ecosystem. Different scenarios would require us to prepare different measures to deal with. (For centralized systems, Libra's approach could be a good reference point but it may not be workable for more decentralized models. See. https://libra.org/en-US/white-paper/#the-economic-and-the-libra-reserve)
It may be good to start a discussion group with interested parties focusing on crisis management of decentralized financial system.
Is there any views on it?
From: Manoj Kumar Singh <mksingh at rbi.org.in>
Sent: Thursday, July 2, 2020 1:45 PM
To: 高梨 佑太(TAKANASHI Yuta) <yuta.takanashi at fsa.go.jp>; 'bgin-general at blockchain-discussions.org' <bgin-general at blockchain-discussions.org>
Subject: Re: Paper on governance for blockchain based financial systems
Thanks for sharing the paper.
Overall, the paper provides a good framework for discussion.
I have one small suggestion to make- while considering supervisory priorities, we should also consider including a suitable framework for resolution in case of business failure/bankruptcy of a blockchain network. For instance, our governance framework should be capable of handling the data/or value that might be lying within the network, in case the network goes bust.
We can keep this aspect as a part of future discussions.
From: BGIN-general <bgin-general-bounces at blockchain-discussions.org> on behalf of 高梨 佑太(TAKANASHI Yuta) <yuta.takanashi at fsa.go.jp>
Sent: Wednesday, July 1, 2020 10:28:27 AM
To: 'bgin-general at blockchain-discussions.org'
Subject: [BGIN-general] Paper on governance for blockchain based financial systems
Dear BGIN members,
I would like to share our paper discussing governance for blockchain based financial system published from Stanford Journal of Law and Policy. This paper discusses why multi-stakeholder governance matters for blockchain based financial system showing concerns for financial regulation and drawing lessons from the case of the Internet. The latter part of the paper provides some considerations on how we should implement the concept of multi-stakeholder governance.
Part 1 or 2: https://stanford-jblp.pubpub.org/pub/multistakeholder-comm-governance/release/1
Part 2 of 2: https://stanford-jblp.pubpub.org/pub/multistakeholder-comm-governance2/release/1
I hope it contributes to the discussion at BGIN.
If you have any questions, views and/or comments, please feel free to reach out to me though this mailing list or bilaterally.
Director for International Digital Strategy Financial Services Agency, Japanese Government yuta.takanashi at fsa.go.jp
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