My 11 year old daughter as well as my nearly 21 year old sister both tell me that my status updates make little to no sense to them and that they find my posts boring . Well, they should probably tune out for this one.
Basel III recently found agreement in Switzerland to a new banking regulatory scheme that has been years in the making. While it has heightened importance due to the existing economic conditions, Basel has been vital for years. In terms of our work on Gov2.0, it is a good example of stable platforms which can be built and can even be modified to allow for non-state actors to perform upon. And with regard to the ongoing debate over things such as the need for long term horizons in building GaaP’s, this is certainly one that fits the bill.
In a recent OECD paper they even go well beyond the normal political timelines and are looking post-Basel III already. Good for them. While I am in general a laissez-faire type of guy, these types of frameworks, or platforms, are a must for all of us to live inside of sustainable change environments. The details of the rules may seem arcane, but it is important that regular citizens start to consume some of these things and push for each of our governments to find common ground on financial and banking reform worldwide.
In particular I appreciate the OECD actually bringing up and attempting to address the grey market in their paper. It is vital that our open government efforts and our regulatory frameworks, don’t simply contemplate the world as we have planned it to be, but rather, the world as it actually is. This also goes to the heart of data reliability and data integrity as Ellen brought up at G2S this past week.
So, even though my sister and my daughter will not have read this far, thanks to the Basel II contingent in living out the Government as a Platform vision.
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