The U.S. Commodity Futures Trading Commission (CFTC) Chairman whose name is Christopher Giancarlo ascribed in his address on7-Nov, that technological standards also with Distributed Ledger Technology (DLT) would support legitimacy to supervise better exchange markets.
Read more>https://bitconews.io/us-cftc-chairman-announced-about-dlt-that-can-support-regulators-to-supervise-better-the-markets/
Giancarlo spoke; entitled with “Quantitative Regulation: Effective Market Regulation in a Digital Era” during his the FinTech Week meeting at Georgetown University Law School. The chairman enunciated appearing digital techs, like DLT, expanded data, automated data experiences, and artificial intelligence (AI), and their effect on exchange organizers and the economic sight.
In order to utilize these techs of exchange markets, Giancarlo briefed in these particular words “we begin to see a world where the majority of standard tasks are managed by machines”, associated with DLT, automation supports price declining condition and promotes exchange resemblance by proceedings, abolishment, and establishment.
Addressing on the hurdles issues, he depicted data automation and machines and their effects which have been observed on labor market globe, Giancarlo stressed in these words: “being a quantitative regulator does not mean replacing human judgment and market intelligence; it means reinforcing it, It means freeing agency staff from repetitive and low value tasks to focus on high value activities that require their expert judgment and domain knowledge. It means marshalling quality data that is efficiently and, perhaps, algorithmically analyzed upon which human judgement can be deployed, unfurled and expanded”.
The chairman proposed about DLT that would support legitimacy to judge info to have vision over real-globe bestowing ability, and success to relief law-makers main tasks, rather than rely on static rules and regulations that were put in place without knowing the consequences or results they would drive in the market, we can also envision the day where rulebooks are digitized, compliance is increasingly automated or built into business operations through smart contracts, and regulatory reporting is satisfied through real-time DLT networks.”
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