The so-called sandbox used to refer to a sandpit in a park or school for children to play safely and develop creativity; later extended to the field of computer science, using sandbox as a closed and safe software testing environment . The Regulatory Sandbox is in response to the continuous innovation of various new business models and technologies in modern times. As regulations may not be able to respond to emerging technologies or technologies in real time, it is hoped that through the establishment of a risk-controllable experimental field and system, Provide an environment for emerging technology R&D units and businesses to experiment with their technologies, services and even business models.
In the technology sandbox, experimenters can temporarily or conditionally enjoy exemptions from relevant supervision regulations, and are not subject to current regulations. This will enable developers or industry Technology, service or business model has the greatest flexibility to explore possible innovation. At the same time, during the experiment, the supervision unit (government agency) can also learn about the latest development of emerging technologies and related risks through the process of supervision experiment, so as to promote the revision of relevant regulations in the future, so that the development of innovative technology and regulations can complement each other.