Regulatory Sandboxes | Big Policy Canvas

Regulatory sandboxes are experimental rooms to test policies or business models in an environment with minimal legal requirements. Certain governments have already started to adopt the concept, which originally evolved in the fintech startup context. It helps governments better understand new technology and its regulatory implications

Type of content: Assets

Type of asset:

Method

Big data potential

Yes

Policy domains: Economy & Finance Health Innovation, Science & Technology Institutional Questions / Internal Affairs

Phase in the policy cycle:

Policy Design and Analysis

Policy Monitoring and Evaluation

Open license availability

Website

https://www.oecd-ilibrary.org/science-and-technology/oecd-science-technology-an…

Serves:

Addresses:

SWOT Analysis for Regulatory Sandboxes
	Helpful	Harmful
Internal	StrengthsThe ability to test products and services in a controlled environment Reduced time-to-market at potentially lower cost Support in identifying appropriate consumer protection safeguards to build into new products and services Better access to finance	WeaknessesNeed a clear objective to work. Need to restrict the data availability due to relevant regulations
External	OpportunitiesTesting a new idea and scenario on a small audience before launching it on a larger scale. Can avoid mistakes by looking at past use cases.	ThreatsSubjected to strict regulations and audit. In need of constant updates to be coherent with the ever changing regulations.

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