FTC's March 9 Fintech Forum Reviewing Blockchain & Artificial Intelligence

FintekNews is happy to hear that the government is on i, when it comes to artificial intelligence and blockchain. We've often said, though, that this is a double-edged sword. In times of old, government involvement meant government intervention. We definitely believe there needs to be mindful government involvement as these technologies unfold, since their long-term potential to devastate jobs is profound, but we are always wary of over-regulation. But the times, they are a-changin'. Anyway, if you're in the Bay area on March 9, this would most definitely be an interesting forum to take in at UC Berkeley.

(Cindy Taylor/FintekNews)

"The Federal Trade Commission will host its third FinTech Forum on March 9, 2017, focusing on the consumer implications of two rapidly developing technologies: artificial intelligence and blockchain.

Artificial intelligence focuses on the capability for machines to mimic human thinking or actions, including learning and problem solving. The technology may be used, for example, to provide personalized financial services for consumers, including providing money management tools.

Blockchain technology involves a distributed digital ledger for recording transactions that can be shared widely. It first emerged as the foundation for digital currency, and it is now being explored for other consumer-focused uses including payment systems and “smart contracts.”

The half-day event is designed to bring together industry participants, consumer groups, researchers, and government representatives, to examine the ways in which these technologies are being used to offer consumers services, the potential benefits, and consumer protection implications as these technologies continue to develop.

In advance of the forum, the FTC will be developing panels of experts, academics and others for the event. If you wish to participate as a panelist, please email any relevant information to [email protected] by January 27, 2017.

The event, which is free and open to the public, will be held at the University of California, Berkeley, beginning at 9 a.m. A full schedule and other details will be announced shortly. No pre-registration is needed. This event will be webcast. A link will be posted to this page on the day of the event.

The FinTech Forum series is part of the FTC’s ongoing work to protect consumers taking advantage of new and emerging financial technology. As technological advances expand the ways consumers can store, share, spend, and borrow money, the FTC is working to keep consumers protected while encouraging innovation for consumers’ benefit.

The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about consumer topics and file a consumer complaint online or by calling 1-877-FTC-HELP (382-4357)."