Discover and read the best of Twitter Threads about #sandboxes
Most recents (3)
#Oklahoma SB 1792 "Financial Technology Access and Improvement Act" sent to house; would create a regulatory #sandbox w/in State Dept. of Commerce; includes, defines "#blockchain technology" as part of "innovative" technology. why, why, WHY? . legiscan.com/OK/text/SB1792 /1 
Bad def of "#blockchain technology": the use of a digital database containing records of financial transactions which can be simultaneously used &shared within a decentralized, publicly accessible network &can record transactions btwn 2 parties in a verifiable and permanent way/3
problems: a "technology" is defined as the use of technology? Limited only to financial transactions? What's "decentralized" mean? What's "publicly accessible" mean- read? write? "participate"? "Can" used in last part of sentence renders most of what comes after it meaningless.
#Oklahoma SB 1792 Financial Technology Access and Improvement Act would create a regulatory sandbox within the state Dept. of Commerce; includes, defines, "#blockchain technology" in its definition of "innovative" technology. ugh. legiscan.com/OK/text/SB1792 /1
Bad def of "#blockchain technology":the use of a digital database containing records of financial transactions which can be simultaneously used &shared within a decentralized, publicly accessible network &can record transactions btwn 2 parties in a verifiable and permanent way;/3
problems: a "technology" is defined as the use of technology? Limited only to financial transactions? What's "decentralized" mean? What's "publicly accessible" mean- read? write? participate? "Can" modifier in last part of sentence renders most of what comes after it meaningless.
In the future, #digitalcurrencies and e-#payments may develop in multiple ways based on #competition. This will add to future #uncertainties and pose challenges for both the central bank and regulators.
The central bank can establish research institutes on #Fintech and digital currencies, but we can’t make sure that the solutions it puts forward are the best.
As #technology evolves, determining to select a certain technology solution is risky. So we may need a mechanism that enables #R&D through multiple channels and encourages #competition.
