[WATCH] Regulation isn’t necessarily a good thing – Lord Marland
Lord Marland speaks to the Malta A.I. and Blockchain Summit in an exclusive interview
“If you take the government of Dubai, the whole government is going to be run on the blockchain by 2020. Extraordinary how payments can be fast moving and communication can be moving through this infrastructure. Dubai is small and also a modern country, which has set its stall by investing in this – so it’s going to make a huge difference in terms of cost, in terms of access and in terms of speed of response – which is a real problem for governments.
“Governments do not respond quickly to anything, they’re madly frustrating, but if you can reduce that it’s going to have great significance. Blockchain is going to have a great significance in the health care industry, in the delivery of health care, it’s a game changer.
“The problem with governments is they over regulate because they don’t understand. There is this problem for governments at the moment, the world is globalising so quickly, they start from the wrong end of the spectrum, which is ‘how can we stop this, how can we get this back into our control’. So regulation isn’t necessarily a good thing. It’s got to be handled very carefully, it’s got to reach the common ground where the consumer is protected, where the framework for malpractice is prevented but the creative and fast-moving nature of this industry is allowed to develop.”
Lord Marland is the chairman of the Commonwealth Enterprise and Investment Council.
Watch the full interview below: