OmiseGO AMA #25 Bonus Question

Vansa Chatikavanij, OmiseGo CEO (VC):
So for this bonus question. I wanted to invite our newest member to join me and help answer this.
So please welcome Tipsuda who has 26 years of experience at the Thai SEC and has kindly decided to join us and we're very excited to have you on board.

Tipsuda Thavaramara, OmiseGo Regulations and Compliance Advisor (TT):
Thank you.

VC:
So I just have a question around how do regulators or when you were a regulator sitting on the other side of the table how did you approach decentralized platforms?

TT:
Okay, tell you the truth the regulators haven't thought about decentralized platform for that long and we probably don't have any answer regulators are worried about risks where things could go wrong with their mandate of investor protection, integrity, transparency and..

VC:
Where does the liability sit?

TT:
..in the old centralized world you know we sort of figured out how to deal with that by requiring licenses, requiring segregation and system audit, and everything.
But now that we're in a (de)centralized model there's always that discomfort of you know, how do we go to, who is responsible, especially when it's fully decentralized to the fact that you can't find anyone you can talk to and I hope it's not going to get there quite yet so regulators don't have answers to that.
But I think this is where... OmiseGO could, could come in know users probably think about compliance but regulators think about more than compliance no, they're thinking about closing their risk and so, even if you find a way to comply with the regulation and it still presents a risk that the regulators need to worry about.
They'll come out with more regulation. So I think in this decentralized world, what you need to do is to try to be that bridge for the regulator to feel comfortable enough to cross over from the old world to the crypto world and work with them.
Not not to find solutions immediately but to convince them that you see their concern that you are on their side that you see the benefit of having good standards, best practice, safety, integrity so you work with them to try to address their concerns and their fears.

VC:
Yeah.

TT:
It doesn't mean that you will come up with a solution right away you learn any little bit would help.

VC:
Yeah, so ultimately it's about understanding where each others are coming from really and meeting in the middle.

TT:
Right.

VC:
So that's it for us, and for the AMA this month and if you would like to know more about the current development you can follow us on on our newsletter as well as the social media and website.
Again, thank you everyone for joining and welcome to the team we're very excited to have you.

TT:
Thank you.