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ACCA Roundtable on Accelerating Data Flow and Enabling Trade in the Digital Economy: Tokyo, Japan (22 Jun 2017)

The ACCA successfully hosted our roundtable and members meeting in Tokyo, Japan. 

The Digital Thought Leaders Roundtable was hosted at Courtyard Marriott Tokyo Station on 22 Jun 2017, while the members meeting was conducted at Google Japan’s office.

The roundtable had speakers from government ministries, the private sector and academia as keynote speakers and panellists. The event was attended by distinguished guests. We had the opportunity to discuss the innovations such as artificial intelligence that come through free flow of data. We also had a panel focused on the financial services and e-payments sector as Tokyo prepares for Olympics 2020.

1. Kiyoshi Mori

The Ministry of Economy, Trade and Industry (METI) emphasised the importance of integrating policy-making with the speed of progress in the cyberworld. The economic impact of cross-border data flow has surpassed that of traditional trade in goods, hence, it is imperative for governments worldwide to work on expanding access to high-speed Internet and free flow of data.

2. Roundtable 1

Ms Barbara Navarro, Vice-Chair of the ACCA, moderated a roundtable on “Enablers and Opportunities of the Free Flow of Data in the Digital Economy”. The panel acknowledged that data is the new oil, as those who see the value of data would and learn to extract information will receive huge gains. Also, while the business model of cloud computing is changing from XaaS to offering container services, there is a need to harmonise risk management across cloud offerings. It is common that companies use a multi-cloud strategy and there is a need for mutual security framework to process data on the cloud.

3. Seiki Takagi

The Ministry of Internal Affairs and Communication (MIC) outlined a comprehensive IoT Strategy, talking through the measures and challenges for each layer: service, platform, network and terminal layers. An example of an IoT system is the Omotenashi cloud service trial, where tourists use just one card for transportation, purchase of tickets at tourist sites, hotel check-in and depositing of luggage.

4. Roundtable 2

Ms Lim May-Ann, Executive Director of the ACCA, chaired the roundtable on “Overcome Blockers and Challenges in the Free Flow of Data”. A new legal framework has been established by the Personal Information Protection Commission (PPC) on the Protection of Personal Information (APPI), which prevents data processors from reconstructing personal data that identifies individuals. The panel emphasised the importance of users understanding the context of how their personal data are used.

5. Roundtable 3

The third roundtable on “Financial Services and e-Payments”, was chaired by Mr Adam Stout of the ACCA. The e-payments industry in Japan is gearing up for Tokyo Olympics 2020, and companies like Visa are preparing to launch new and innovative payment methods in conjunction with the Olympics. Another new development is the amendment of the Banking Act on 1 April 2017, which increases the allocation of financial institutions to own up to 50% of a fintech’s company voting share, hoping to spur innovation in the sector.

6. Closing Remarks

Ms Lim May-Ann summarised the insights from the roundtable and presented gifts of appreciation to all speakers.

For the programme agenda, please click here.