The National Development Council of Taiwan (NDC) has revealed plans to create a distributed ledger technology (DLT) alliance whose primary objective would be to promote the adoption of blockchain technology in various sectors of the region’s economy, reports Taiwan News on March 27, 2019.
Taiwan to Form DLT Alliance to Promote Adoption
Per sources close to the matter, the NDC has announced it’s looking to create a national blockchain alliance in the coming months.
Reportedly, the NDC Minister, Chen Mei-ling who was present at the nation’s Smart City Summit & Expo, revealed that the agency had held meetings with a significant number of government parastatals, DLT experts, as well as academics in the state to accurately define the exact mission of the blockchain alliance.
Commenting on the initiative, Minister Mei-ling made it clear that the revolutionary technology could play a significant role in the nation’s governance and Taiwan has all it takes to occupy the frontline in the development of the nascent technology.
The state also plans to integrate blockchain technology into its agricultural and supply chain sectors to improve food safety by making it possible for the Council of Agriculture to trace the origin of food products seamlessly.
A Long Time Coming
It’s worth noting that Taiwan has been making active plans to put itself at the forefront of the crypto and blockchain revolution.
Earlier in March 2018, the government of Taiwan announced that it would take a more liberal approach towards regulating bitcoin and other cryptoassets in the state, unlike its Chinese neighbours that have outrightly banned all crypto-related activities in the country.
At the Asia Blockchain Summit in July 2018,