Securities, Regulations, and Governance over Blockchain: A Panel Discussion

Every week on Wednesday, a group of blockchain influencers from around the globe gather together at Blockchain Weekly to discuss the most recent happenings in this sector. Last week we saw Venture Capitalist, Vinay Nair from Nair Ventures; Dan Rakhyaman- Co Founder of Fungible Network; and Rhiannon Payne from Sea Foam Media & Technology along with a host of blockchain enthusiasts and experts joining live at 2 PM EST.

The enthusiasts at attendance raised few of the most interesting and thoughtful queries that covered topics from Securities, Regulations to Governance over the Blockchain ecosystem

Michael Noel asks

Vinay what is your opinion, how do you think a security offering like Petro, will fair in the current cryptocurrency ecosystem?

Vinay Nair – On a political end, Venezuela’s failure to grow is often attributed to its lack of progress in carrying out free-market reforms during the 80’s and 90’s. Remember the fact, that Venezuela was one of the fastest-growing economy between 1920-1970 in that region.

Hence, it is necessary for the officials to focus upon creating an ecosystem around the region by setting up Special Economic Zone (SEZ) to facilitate the growth of businesses that support the idea of Petro.“

Michael Noel asks

Discussing on the involvement of governance in the industry, India is doing some of the interesting things here

Vinay Nair – In India, we have a lot of real time use cases to showcase the use of blockchain in governance. Recently,  Andhra Pradesh, was split into two sovereign states for the ease of governance. The state adopted blockchain technology to acquire 53,000 acres of farmland to build Amaravati, its capital city.

Apart from that, we have states issuing Birth Registration, secured through blockchain. One another area of interest is Indian Right to Information Act, that can be implemented via blockchain

Dan Rakhyaman – On the governance part, nothing going on in US. Coming from the ETF industry, we started building a platform last year. And instead of doing the ICO , we went to wrong direction and started building the product.

Michael Noel – Unlike here in USA, India is looking at the governance and using consensus. It’s really interesting and focus on becoming a global community. That’s why the focus of today’s discussion was to get a global look on the aspect of STO’s .

Audience asks

How can STO’S be applied to the Food industry.

Vinay Nair – One possible way, I would suggest is that if we can allow farmers to offer farmland as a Security Token Offering, to investors. The Land can be cultivated for generating profits as a common enterprise.

Michael Noel – This could be a very beneficial model, with farmers in developing countries like India, an agricultural economy benefiting as a whole. Currently this sector is the backbone of the Indian economy and contributing to more than 50% in GDP.

Audience asks

How can Transportation benefit from Blockchain?

Dan Rakhyaman – This can be part of a wider network of offerings, there are limitations to bringing transportation alone on a blockchain platform and can be used to track deliveries and supply points around the network.

Vinay Nair – True, transportation can be implemented as part of a Logistics blockchain itself

Michael Noel asks

How is all this going to affect things in future? What is the end of the road for this community. Targeted ROIs for the consumer or are we just formulating pet projects.

Rhiannon Payne – I think a lot of these early ICOs can be considered as  pet projects. And we are not at the point to achieve adoption even with funding, which is disappointing. But with further regulations coming to light in 2019, learning from the mistakes of previous year, we can actually see blockchain making an impact in various industries.

Dan Rakhyaman – if you look at STO, they have more disclosure and they would be held accountable for whatever they publish. People will have much better understanding of the projects by the STO.  A lot of the the interesting projects will be able to survive in the cryptoworld.

It is all the way more interesting to see that Blockchain has the potential to bring effectiveness as well as efficiency in securities, regulation and governance. The wider adoption by governments, corporates and startups can help this industry to reach its true potential in the next couple of years concluded the panel.

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