Full article posted to
reddit. Here's an excerpt (
spacing added for readability).
While "no regulation" is not a real solution, Bieron says, both established companies and startups can work collaboratively to push for regulation that meets their common goals. In a new paper, PayPal recommends that regulators use data analytics to measure performance of a company and make regulations based on their findings, instead of basing regulations on design standards as happens today. Data analytics "is something that hasn't been used…in the regulatory setting," Bieron says.
"Payments offers a great place to explore this because there's so much data…and so much innovation going on." Bieron is presenting the paper, "21st Century Regulation: Innovation and Growth" in Washington D.C. on Oct. 29 during a policy luncheon hosted by the Progressive Policy Institute. PayPal will present localized versions of the paper in Singapore and Italy.
Rohan Mahadevan, vice president of PayPal Asia Pacific and Hanne Melin, policy strategy counsel for Europe, the Middle East and Africa for eBay, will present the papers in their respective regions. The paper advocates for SMART Governance, a decision-making model based on securing data on performance, using machines to organize databases, creating algorithms to derive insights, reassessing results and targeting insights to improve performance.
Paper to presented in DC:
PDFYes, they (barely) mention bitcoin. Importantly, the proposed model could change the bitcoin payment processing landscape. Hopefully, for the better.
