Ripple’s Chris Larsen believes AIR will enable collaboration between regulators, industry
While partnership-driven adoption remains the status quo for the crypto-ecosystem, a group of entrepreneurs including Chris Larsen, Ripple’s Executive Director, has announced the launch of a new alliance “to help regulators embrace technology and integrate innovation into their organizational DNA.” The Alliance for Innovative Regulation (AIR) was announced via Jo Ann Barefoot, AIR’s Co-founder and CEO, who highlighted the initiative’s motive by stating,
“Facebook’s Libra announcement is the latest recognition that fintech innovations are outpacing the tech-readiness of our system. To keep up with the exponential change of technology, regulators have to radically decrease innovation cycle-time and adapt quickly to new technologies.”
The official press release mentioned that AIR’s mission is to help regulators understand new technologies and migrate from a mostly analog model to a system of digitally-native design. The Alliance plans to assist regulators modernize their regulatory systems.
Towards this effort, AIR, in collaboration with TechSprint, currently uses a “hackathon” format to help regulators source new technological solutions to age-old intractable problems. Chris Larsen, Executive Chairman of Ripple’s Board of Directors and one of the founding members of the AIR’s funding collaborative, stated,
“The goal is to create new models of collaboration between a complex network of regulatory agencies, and between regulators and industry. “
OhNoCrypto
via https://www.ohnocrypto.com
Arijit Sarkar, Khareem Sudlow