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Buenos Aires - LaBitConf 2016

[35 minutes] Addressing (in Spanish) a mixed public-private sector audience, I present a higher level (strategic) overview of regulation and its impact on development and progress. I argue that innovation is a public policy choice that can be pursued by nations of any size, and encourage my native South America to take the lead in creating the right environment for fintech innovation.

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Buenos Aires - LaBitConf 2016

  1. 1. @JuanLlanos BULDING A POSITIVE REGULATORY LANDSCAPE LaBitConf, Buenos Aires, November 4, 2016
  2. 2. SEOUL
  3. 3. SEOUL
  4. 4. SINGAPORE
  5. 5. SINGAPORE
  6. 6. © 2016 Juan Llanos DUBAI
  7. 7. DUBAI
  8. 8. WTF? © 2016 Juan Llanos
  9. 9. systemic corruption limited competition regulatory obstacles Source: World Bank © 2016 Juan Llanos
  10. 10. @JuanLlanos
  11. 11. “REGULATION” © 2016 Juan Llanos
  12. 12. © 2016 Juan Llanos
  13. 13. PRUDENTIAL LAW ENFORCEMENT POLICY © 2016 Juan Llanos
  14. 14. < D O W N s i d e + > U P s i d e © 2016 Juan Llanos
  15. 15. © 2016 Juan Llanos PRUDENTIAL LAW ENFORCEMENT POLICY [-] [-] [+]
  16. 16. Regulation à inevitable, but valid Compliance à onerous, but valuable © 2016 Juan Llanos
  17. 17. @JuanLlanos
  18. 18. írituà esp Source: 2015 Transforming Finance Conference The Fintech Revolution © 2016 Juan Llanos
  19. 19. Attitudes conservative vs. progressive restrictive vs. expansive misguided vs. enlightened formal vs. substantial aggressive vs. permissive © 2016 Juan Llanos
  20. 20. PRESCRIPTIVE( e x a n t e ) DESCRIPTIVE( e x p o s t ) © 2016 Juan Llanos
  21. 21. PROPORTION IMPACT © 2016 Juan Llanos
  22. 22. RETHINK REDEFINE REINVENT © 2016 Juan Llanos
  23. 23. © 2016 Juan Llanos
  24. 24. A successful algorithmic regulation system has the following characteristics: 1.Desired outcome 2.Real-time measurement 3.Adaptive algorithms 4.Deeper analysis Algorithmic R e g u l a t i o n * * Tim O’Reilly, “Open Data & Algorithmic Regulation” (in Beyond Transparency) © 2016 Juan Llanos
  25. 25. © 2016 Juan Llanos
  26. 26. @JuanLlanos
  27. 27. © 2016 Juan Llanos
  28. 28. © 2016 Juan Llanos
  29. 29. © 2016 Juan Llanos
  30. 30. © 2016 Juan Llanos
  31. 31. © 2016 Juan Llanos
  32. 32. SANDBOX REGULATORY
  33. 33. © 2016 Juan Llanos
  34. 34. © 2016 Juan Llanos
  35. 35. © 2016 Juan Llanos
  36. 36. "The UK is a global gold standard for the progressiveness of its regulatory regime.” “The UK’s regulatory regime leads for its simplicity, transparency and industry-led approach.” © 2016 Juan Llanos
  37. 37. ”Strong competition from other regions is emerging: some are actively competing to create best-in-class FinTech ecosystems and are increasingly progressive in their use of government and regulatory policy to support FinTechs.” © 2016 Juan Llanos
  38. 38. "Early in a technology, a thousand flowers should bloom. And the government should add a relatively light touch, investing heavily in research and making sure there’s a conversation between basic and applied research. As technologies emerge and mature, then figuring out how they get incorporated into existing regulatory structures becomes a tougher problem, and the government needs to be involved a little bit more. Not always to force the new technology into the square peg that exists but to make sure the regulations reflect a broad base set of values. Otherwise, we may find that it’s disadvantaging certain people or certain groups." President Obama, 2016-10-13 © 2016 Juan Llanos
  39. 39. @JuanLlanos
  40. 40. INNOVATE IMPLEMENT INFLUENCE © 2016 Juan Llanos
  41. 41. INNOVATE & reinvent the World INFLUENCE public policy IMPLEMENT applicable rules Responsible Evolution © 2016 Juan Llanos
  42. 42. INNOVATE INFLUENCEdisarray capture imprudence chaos We innovate and influence policy to accommodate our interests, but we really don’t implement effective controls. © 2016 Juan Llanos
  43. 43. IMPLEMENT INFLUENCE monopoly entropy ossification irrelevance We stay where we are because we don’t have an innovation-friendly environment © 2016 Juan Llanos
  44. 44. INNOVATE IMPLEMENT clientelism inflexibility exclusion inequality We innovate within outdated, inflexible, anachronistic legal and regulatory frameworks © 2016 Juan Llanos
  45. 45. INNOVATE & reinvent the world INFLUENCE public policy IMPLEMENT applicable rules Responsible Evolution
  46. 46. @JuanLlanos
  47. 47. Adult population with NO USE OF formal or semiformal FINANCIAL SERVICES © 2016 Juan Llanos
  48. 48. SCALE GLOBAL UNIVERSAL HUMANITARIAN © 2016 Juan Llanos
  49. 49. PUBLIC POLICY INNOVATION INCLUSION DEVELOPMENT © 2016 Juan Llanos
  50. 50. SILICONCRYPTO © 2016 Juan Llanos
  51. 51. LATIN AMERICA
  52. 52. BIGsmall © 2016 Juan Llanos
  53. 53. @JuanLlanos

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[35 minutes] Addressing (in Spanish) a mixed public-private sector audience, I present a higher level (strategic) overview of regulation and its impact on development and progress. I argue that innovation is a public policy choice that can be pursued by nations of any size, and encourage my native South America to take the lead in creating the right environment for fintech innovation.

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