2. Data standardization and access to data flows
• Korea’s recent Masterplan on Intelligent Society
• Estonia’s data embassies initiative
• Access to IRS data
3. Data analytics
• Singapore’s Business Analytics Translation Centre
• Smart Nation and Digital Government Group
• New South Wales Data Analytics Center under the Ministry of
Innovation and Better Regulation
4. Cyber Security
• Critical Information Infrastructures.
• Businesses and the community to combat cybercrime and protect
personal data
• Skills, technologically-advanced companies and strong research
collaborations
• International partnerships
• Cyber Security capabilities centralized and with regulators
5. Blockchain: Role of Governments
• Principle based regulation system with high safety standards, legal
certainty and a stable environment for transactions
• Focus on end-user cost efficiencies rather than only a redistribution of
profits among intermediaries
• Government as facilitator for a public or private or public distributed
ledger, or as a direct central node that applies the technology but
retains a monopoly in managing the ledger entries
7. Regulation
• Regulatory sandboxes: UK, Singapore, Thailand, Indonesia, HK, others
• Open APIs
• Digital IDs
• Cryptocurrencies
• Canada’s CAD Coin
• People’s Bank of China trials
8. Institutional Design
• Financial Services Innovation Officers: Draft Financial Innovation Act
(US, Rep. McHenry, Robert Morgan, and Jeanne Hogarth)
• Applications in finance but also in health, social welfare, land
registration and others
• UK and private sector have a non-profit run Faster Payments
Clearance System – instant transaction processing between
institutions
9. Government as user
• UK: payment systems as part of eprocurement (with Visa)
• Georgia: blockchain for land titling
• Estonia: blockchain for health records
13. International Partnerships
• UK’s FinTech Bridge
• Cooperation agreement between the Financial Conduct Authority
• Singapore (MAS)
• China (People’s Bank of China)
• South Korea (Korean Financial Services Commission)
• Refer FinTech firms to counterparts and share and use information on
financial services innovation between regulators
• Basel III, Financial Stability Board, Single Europayments Area and
TARGET2