BIS Economist: Embedded Supervision Reduces Blockchain Compliance Costs

Raphael Auer, chief economist at the Bank for International Settlements, presented a new "low cost" blockchain compliance approach in a working paper published on Monday. It said that this method of "embedded supervision" is different from the two supervised technologies "suptech" and "regtech". Auer said that the current compliance process involves reporting at multiple data levels and then Collecting, summarizing, and presenting data to internal stakeholders and executives adds that “embedded governance mitigates data availability, data collection, verification costs, and privacy conflicts.”