The working group will identify significant trends both in China and abroad, decide which key technologies and applications should be developed, identify cyber-security concerns and look at possible government regulations and standard -
setting for the blockchain industry.
In
order for the blockchain industry to succeed, it first needs to win regulators» trust by actually solving commercial pain points to prove that token - oriented models are feasible, especially by using the token - economy business model.
Speakers included representatives from the National Payment Corporation of India, KPMG India, Chinese Bitcoin company BitKan, Indian blockchain startup Primechain Technologies, and the Global Blockchain Network, a trade
association for the blockchain industry.
An ad hoc committee within the working group that will be engaged in the creation of white paper that will include a detailed
plan for the blockchain industry development in China.
Our experience indicates that these advancements represent fundamentally transformative
capabilities for the blockchain industry, and Bitfinex remains dedicated to leveraging the latest innovations to continue offering the world's leading trading experience.»
Mr. Van Der Velde also suggested that decentralized exchanges «represent fundamentally transformative capabilities
for the blockchain industry.»