OECD is an organization for economic cooperation and development, designed to ensure the principles and policies of a transparent market economy throughout the world. The headquarters is located in the residence of the Chateau de la Muette in Paris, France.
It is also a forum where governments discuss, develop and guide social and economic policies. They exchange experience, look for new ways to solve problems and develop foreign and domestic policies. This organization has a global character and covers a wide range of economic and social issues from macroeconomics and trade to education, environmental protection, science and innovation.
How Does Crypto effects on OECD
The OECD recently announced that it has assembled a high-level panel of experts, also known as the Blockchain Policy Advisory Council of Experts (BEPAB). The main goal of this group will be to provide recommendations on its work on the blockchain, its technologies and the development of the principles of its high-level policy.
The European Commission and 45 member countries participate in the work of the intergovernmental organization. This structure also includes civil society groups, industry bodies and the private sector. According to information, 93 experts participate in the current list of board members.
This group of experts from the blockchain and crypto divisions includes leaders of the Facebook Calibra, Libra Association, Blockchangers, Block.one, Aidtech, BITT, R3, Consensys, Bitfury, Etoro, Infrachain, Iobuilders, Everledger, Outlier Ventures, Maker Foundation, and others.
The list also includes representatives of government agencies from different countries such as Great Britain, South Korea, Sweden, Spain, Germany, Egypt, Japan, the USA and the European Parliament. Blockchain associations, central banks, industry bodies, and academic institutions are also members.
The OECD has become a G20 strategic advisor and has begun working with the International Monetary Fund to make national growth strategies and much more. For the past six years, this community has been developing blockchain policies. They analyze and study consumer protection in financial services and education related to cryptocurrency, and its potential for technology to ensure due diligence requirements in global supply chains. Also, corporate governance improvements like proxy voting and using blockchain as a digital tool for sustainable infrastructure.
The creation of the OECD Blockchain Policy Center in 2018 was followed by the creation of a group of experts. This center provides resources for politicians and supports the work of the blockchain Committee on the Organization of Financial Markets and the Committee on Politics Digital Economy. The OECD also hosts Global Blockchain Policy Forums. The third forum will be held in Paris from September 30 to October 1. Last year, it gathered an event with 1,600 participants.
Based on the words of the director of financial markets at De Nederlandsche Bank and the chairman of CMF, Aerdt Houben, they work with a wide range of experts and innovators to implement the principles of sustainable innovation and switch to blockchains to help industry and governments.
It is very pleasing that among the experts, besides the USA, there are the European Parliament, Great Britain and even South Korea. We all hope that soon we will see a decent result from their and OECD work with analysis, development and crypto implementation plans.