Smart Ledger technology has been in use for many years, although it has come to prominence in recent times due to the rise of cryptocurrencies. Increasingly, governments are addressing the issues that arise from this technology, whether from a legal or regulatory perspective; or in addressing the delivery of services to citizens.
The extent to which different jurisdictions across the world are embracing or holding back the use of Smart Ledger technology is a key factor in the development of applications. Some are exploring the way in which this technology can assist in assuring identity and documentation, for example in anti-money laundering systems or the issuance of passports. Others are looking to this technology to improve the efficiency of transactions across a range of financial and other services.
For countries and regions with a commitment to the development of high tech and fintech industries, managing their approach to Smart Ledgers is key. They wish to ensure that whether their focus is on home grown start-ups or attracting inward investment, they provide an environment across business, regulation and infrastructure which supports new technology. They are supporting the development of their human capital through investment in training and education which supports a high level of expertise in their workforce.
The Smart Jurisdictions Index is a novel approach to tracking the relative preparedness of jurisdictions at national and state levels in welcoming Smart Ledger technology in business, finance and government operations. It is intended to provide a starting point for potential investors to examine where they might wish to explore business opportunities; and for governments and regulators to explore their competitiveness and the stance which they wish to take in welcoming or balancing the opportunities that this technology has to offer.
The index will require refinement and development as the field of Smart Ledgers is moving on at pace. We look forward to engaging with all those interested in the impact of Smart Ledgers on our future.