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Senator Jane Hume confirms that DeFi has potential and brings huge opportunities for Australia to build on it. That’s, as a “front-runner for innovation and economic progress.”
Furthermore, Senator Jane notes this while speaking at the Australian Financial Review Super & Wealth Summit in Sydney on Monday, Nov. 22. More so, She is the Minister for Women’s Economic Security of Australia, representing the Liberal Party and the state of Victoria.
So, The conference is about super and government retirement funds, arguably the notoriously slow and steady investments.
More so, The comments on DeFi are more notable as such.
Notably, Senator Jane urges industry and government to see that DeFi is “not a fad,” and to “tread cautiously, but not fearfully”. Of course, this is because the technology is “not going away any time soon.”
“If the last 20 or 30 years have taught us anything, it’s that all innovation begins as…”
“disruption and ends as a household name,”
Furthermore, Senator Jane also comments on the fast growing nature of the industry:
“Decentralized finance underpinned by blockchain technology will present incredible opportunities…”
“‑ Australia mustn’t be left behind by fear of the unknown.”
Then, Senator Jane continues while speaking on policy, saying that Australia’s economic future will be base on “innovation” and “uptake of technology”. Which of course, is as the country continues to recover from the financial toll of the COVID-19 pandemic.
Lastly, Senator Jane urges industry players to “embrace innovation and developments in this space,”. Then, lays emphasis on blockchain technology, making specific reference to Commonwealth Bank.
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