{"title":"Some policy issues surrounding the use of FinTech in public procurements","authors":"Bryane Michael, N. Korolevska","doi":"10.1080/17521440.2022.2063605","DOIUrl":null,"url":null,"abstract":"ABSTRACT FinTech – along with the blockchain, other distributed ledger, smart contract, and tokenization usually assumed to accompany it – could change the way governments procure goods and services. Yet, both the academic and practitioner literature omits discussion of any policy-level analysis of the interaction between procurement rules and FinTech innovations. Procurement authorities and procurement law can play a vital role in the development of FinTech. They can help build the FinTech platforms and ecosystems that help them engage in public procurement. They should not try to procure such FinTech outright. Any FinTech applications facilitating public procurement should thus encourage compliance with the principles the international community has developed over decades.","PeriodicalId":43241,"journal":{"name":"Law and Financial Markets Review","volume":"15 1","pages":"38 - 69"},"PeriodicalIF":0.0000,"publicationDate":"2021-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Law and Financial Markets Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/17521440.2022.2063605","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 2
Abstract
ABSTRACT FinTech – along with the blockchain, other distributed ledger, smart contract, and tokenization usually assumed to accompany it – could change the way governments procure goods and services. Yet, both the academic and practitioner literature omits discussion of any policy-level analysis of the interaction between procurement rules and FinTech innovations. Procurement authorities and procurement law can play a vital role in the development of FinTech. They can help build the FinTech platforms and ecosystems that help them engage in public procurement. They should not try to procure such FinTech outright. Any FinTech applications facilitating public procurement should thus encourage compliance with the principles the international community has developed over decades.
期刊介绍：
The Law and Financial Markets Review is a new, independent, English language journal devoted to providing high quality information, comment and analysis for lawyers specialising in banking and financial market issues and to others with interests in legal and regulatory developments affecting the financial markets. Published four times a year LFMR contains articles written by leading experts providing a forum for practical guidance on, as well as reflective and topical analysis of, all major jurisdictions, with a particular focus on the interaction between the law and market practice and behaviour.
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