Australia’s securities markets regulator is looking at the use of blockchain as part of broader data strategy.
Yesterday, the Australian Securities and Investments Commission (ASIC) released its “Data Strategy 2017-2020”, outlining how the agency plans to “capture, share and use data” in the years ahead. It forms part of a wider “One ASIC” initiative, which aims to achieve greater connectivity between the regulator’s various functions.
One notable element included in the report is that ASIC is exploring whether to use so-called “regulatory nodes” that would allow it to observe and gather data through blockchain networks. While document doesn’t outline a clear strategy in this area, it nonetheless reveals how ASIC envisions potentially interacting with such systems.
As the document explains:
“We will…explore options for receiving and accessing data, including through the use of regulatory nodes using distributed ledger.”
Though not explicitly connected to blockchain as of yet, ASIC revealed in the document that it wants to create “a repository of data assets and a register of current data.”
The goal of that specific effort, the agency said, is to build “a consolidated view of entities we regulate” – something to which a network of regulatory nodes could possibly contribute.
Australia’s has been actively analyzing and addressing issues surrounding blockchain in recent months. In June, the government released a pair of reports studying how to regulate the technology, as well as how it can be used.
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