Austrian Economy Minister: & # 39; We do not need regulation for blockchain & # 39;

The Austrian Minister of Digital and Economic Affairs, Margarete Schramboeck, said that "we do not need regulation for blockchain," reports Trending Topics, which focuses on technology, on 2 April.

Schramboeck – who was previously CEO of the leading Austrian fixed and mobile network operator A1 Telekom Austria – gave her comments during the ANON Blockchain Summit discussion panel dedicated to "The role of government in the blockchain era".

Regarding the development of appropriate blockchain regulations, the minister said that "Europe has a strong tendency to over-regulate. … And then we are surprised that there are no European companies in the top 10 of the world."

Although Schramboeck argued for the regulation of cryptocurrencies, she said that "we don't need regulation for Blockchain." Last June board members of the Austrian Financial Markets Authority, Klaus Kumpfmueller and Helmut Ettl, also made proposals for stricter rules on cryptocurrencies and initial currency offers (ICO & # 39; s).

Schramboeck said that technology is of great importance at the state level, but that it is first necessary to "build trust in technology and skills" before those new technologies can be applied to critical public processes such as voting. Schramboeck strives for an active application of blockchain technology in various areas of public administration.

Austria has demonstrated a proactive approach to the research and application of blockchain. Last December, the COMET centers, coordinated by the Austrian promotion office, approved the Austrian Blockchain Center in Vienna. The center will be multidisciplinary and focus on the internet of things, finance, energy, logistics and applications in public administration.

In November last year, the Austrian government supported a British cancer research agency, Lancor Scientific, which uses blockchain technology to detect the disease.

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