[35 minutes] Addressing (in Spanish) a mixed public-private sector audience, I present a higher level (strategic) overview of regulation and its impact on development and progress. I argue that innovation is a public policy choice that can be pursued by nations of any size, and encourage my native South America to take the lead in creating the right environment for fintech innovation.

1. @JuanLlanos
BULDING A
POSITIVE
REGULATORY LANDSCAPE
LaBitConf, Buenos Aires, November 4, 2016

2. SEOUL

3. SEOUL

4. SINGAPORE

5. SINGAPORE

6. © 2016 Juan Llanos
DUBAI

7. DUBAI

8. WTF?
© 2016 Juan Llanos

9. systemic corruption
limited competition
regulatory obstacles
Source: World Bank
© 2016 Juan Llanos

10. @JuanLlanos

11. “REGULATION”
© 2016 Juan Llanos

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13. PRUDENTIAL
LAW
ENFORCEMENT
POLICY
© 2016 Juan Llanos

14. < D O W N s i d e
+ > U P s i d e
© 2016 Juan Llanos

15. © 2016 Juan Llanos
PRUDENTIAL
LAW
ENFORCEMENT
POLICY
[-]
[-]
[+]

16. Regulation à inevitable, but valid
Compliance à onerous, but valuable
© 2016 Juan Llanos

17. @JuanLlanos

18. írituà esp
Source: 2015 Transforming Finance Conference
The Fintech Revolution
© 2016 Juan Llanos

19. Attitudes
conservative vs. progressive
restrictive vs. expansive
misguided vs. enlightened
formal vs. substantial
aggressive vs. permissive
© 2016 Juan Llanos

20. PRESCRIPTIVE( e x a n t e )
DESCRIPTIVE( e x p o s t )
© 2016 Juan Llanos

21. PROPORTION
IMPACT
© 2016 Juan Llanos

22. RETHINK
REDEFINE
REINVENT © 2016 Juan Llanos

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24. A successful algorithmic regulation system has the following characteristics:
1.Desired outcome
2.Real-time measurement
3.Adaptive algorithms
4.Deeper analysis
Algorithmic R e g u l a t i o n *
* Tim O’Reilly, “Open Data & Algorithmic Regulation” (in Beyond Transparency)
© 2016 Juan Llanos

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26. @JuanLlanos

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32. SANDBOX
REGULATORY

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36. "The UK is a global gold standard for the
progressiveness of its regulatory regime.”
“The UK’s regulatory regime leads for its
simplicity, transparency and industry-led
approach.”
© 2016 Juan Llanos

37. ”Strong competition from other regions is
emerging: some are actively competing
to create best-in-class FinTech ecosystems
and are increasingly progressive in their
use of government and regulatory policy
to support FinTechs.”
© 2016 Juan Llanos

38. "Early in a technology, a thousand flowers should bloom. And
the government should add a relatively light touch, investing
heavily in research and making sure there’s a conversation
between basic and applied research. As technologies emerge
and mature, then figuring out how they get incorporated into
existing regulatory structures becomes a tougher problem, and
the government needs to be involved a little bit more. Not
always to force the new technology into the square peg that
exists but to make sure the regulations reflect a broad base set
of values. Otherwise, we may find that it’s disadvantaging
certain people or certain groups."
President Obama, 2016-10-13
© 2016 Juan Llanos

39. @JuanLlanos

40. INNOVATE
IMPLEMENT
INFLUENCE © 2016 Juan Llanos

41. INNOVATE
& reinvent the World
INFLUENCE
public policy
IMPLEMENT
applicable rules
Responsible
Evolution
© 2016 Juan Llanos

42. INNOVATE
INFLUENCEdisarray
capture
imprudence
chaos
We innovate and
influence policy to
accommodate our
interests, but we really
don’t implement
effective controls.
© 2016 Juan Llanos

43. IMPLEMENT INFLUENCE
monopoly
entropy
ossification
irrelevance
We stay where we are
because we don’t have an
innovation-friendly
environment
© 2016 Juan Llanos

44. INNOVATE
IMPLEMENT clientelism
inflexibility
exclusion
inequality
We innovate within
outdated, inflexible,
anachronistic legal and
regulatory frameworks
© 2016 Juan Llanos

45. INNOVATE
& reinvent the world
INFLUENCE
public policy
IMPLEMENT
applicable rules
Responsible
Evolution

46. @JuanLlanos

47. Adult population with NO USE OF
formal or semiformal FINANCIAL SERVICES
© 2016 Juan Llanos

48. SCALE
GLOBAL
UNIVERSAL
HUMANITARIAN
© 2016 Juan Llanos

49. PUBLIC POLICY
INNOVATION
INCLUSION
DEVELOPMENT
© 2016 Juan Llanos

50. SILICONCRYPTO
© 2016 Juan Llanos

51. LATIN AMERICA

52. BIGsmall
© 2016 Juan Llanos

53. @JuanLlanos