Australian senator says blockchain can make financial compliance easier

Australian Liberal Senator Andrew Bragg thinks that blockchain technology can solve a number of major regulatory issues in his home country.

According to Bragg, blockchain technology could become a useful tool in reducing complications associated with financial regulatory compliance and transparency. “The future is technology by blockchain,” the senator said at an online panel of the Future of Financial Services 2020 conference, ZDNet reported on Nov. 4.

During the conference, Bragg also highlighted the importance of expanding Australia’s global competitiveness in the financial sector, particularly with regard to Singapore.

Bragg has served as a senator for New South Wales since 2019, emerging as a major blockchain-friendly official in Australia.

Reference: https://cointelegraph.com/news/australian-senator-says-blockchain-can-make-financial-compliance-easier

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