A Delicate Balance: Centralized Governance with Decentralized Technology Singapore’s Best Practices of Blockchain Industry Development and Regulation
Author:Yan Li, Tian Xin Author Unit: Business College, Nanyang Technological University, Singapore College of Computer Science and Technology, China University of Petroleum (East China); Qingdao, Shandong, 266580, P. R. China
Abstract：Singapore has been defined as one of the most important nodes in the global Blockchain ecosystem. Meanwhile,
the development and application of Blockchain technology in FinTech and many other domains impose certain
unique challenges for industry regulators. Elaborating on Singapore’s best practices of industry development and
innovative regulation, the authors argue that “open and inclusive spirits”, centralised governance structure, and
decentralised technology application, are key success factors for such a burgeoning ecosystem to flourish and
leapfrog as the global industry leader.
