Taiwanese Congressman Trying To Turn Taiwan Into A Crypto Hub

Aug 31, 2018 at 12:45 Update Date :Aug 31, 2018 at 12:45 UTC

Taiwanese Congressman Jason Hsu is set to transform the island country into a centre for blockchain tech and cryptographic money. Jason Hsu, the ‘Crypto Congressman’ is on a mission to transform Taiwan into a technological powerhouse, particularly in the fields of virtual money and blockchain.

Since becoming an official Member of Parliament in 2016, Hsu has attempted to cultivate activities concerning self-riding vehicles, cybersecurity, and the computerized economy — all with an end goal to help close the gaps between public policy and technology.

Now, he is working to bring blockchain and crypto to the forefront.

Besides launching a self-administrative entity to conceptualize the trade controls, the so-called Crypto Congressman composed an alliance to help the blockchain industry.

In a recent interview, Hsu said that he has an eye on drafting rules that will enable trades to direct themselves in Taiwan, concentrating on components like data transparency, credit risk management, and so on.

Earlier in the year, Taiwan presented a series of controls that were intended to combat tax evasion, yet experts did not flag that a total ban on digital currency was coming.

Hsu trusts that regulations must be instituted with an open mind since technology is “advancing exponentially.”

He says governments should think in regards to how to make a domain where natives can feel like blockchain is a part of the daily lives, and afterwards attempt to choose how to get the technology to create nations.

One of Hsu’s plan for Taiwan is the improvement of a “special financial zone” in the nation that would serve as the base camp for 200 blockchain organizations.

As indicated by Hsu, plans are underway to fabricate a Taiwanese worldwide ID that would make it feasible for visas to work on the blockchain.

He recently visited business visionary Peter Thiel in California to discuss the centralizing of mining power and has given talks and discourses in and outside of Taiwan.

Hsu is friendly with Buterin, having been presented after publicly asking the Ethereum originator to support blockchain and digital currency in Taiwan.

For Hsu, Buterin speaks to ‘one of few individuals left in the business that remains true to the beliefs that blockchain and crypto were based upon.’

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