Davos WEF Crypto/Blockchain Wrap-Up


Traditionally held in Davos, this year’s World Economic Forum has finished a few days earlier. Here are key blockchain/crypto-related thoughts and results of the event. At all, attendees were positive about tech and continued pushing the idea of «blockchain over cryptocurrencies».

BitPesa CEO to Chair During Global Blockchain Council

One of the major results is that Elizabeth Rossiello, the founder and current CEO of a digital exchange platform BitPesa, will co-chair at the upcoming conference of the Global Blockchain Council. The mentioned meeting is a part of the innovative center created by the WEF in San Francisco where blockchain was recognized as a valuable innovation. On a par with it, Google and Wikimedia achieved this title, too.

Recently, Mrs. Rossiello worked with attendees to create the Council’s agenda and goals. In San Francisco, she will hold the conference to act as a consultant for the WEF. Sheila Warren, the Forum’s head of blockchain, mentioned Rossiello’s background, expertise and regulatory knowledge, as well as skills to gather members of the industry. The new role will allow the BitPesa’s founder to promote 2019 as a year of blockchain.

40% of Investors Believe in Blockchain

Representatives of the Global Blockchain Business Council revealed results of their survey with 71 interviewed institutional investors. 40% of them answered that they consider blockchain as the most innovative and game-changing invention since the Internet. Near 33% think that corporations will have to hire heads of blockchain during next 5 years. Additionally, 38% mark that companies should design blockchain-related plans during this time.

Blockchain Should Benefit Healthcare

Lata Varghese from Cognizant and Zia Zaman from Metlife talked about blockchain and cryptocurrency on the topical panel during the event. Focused on real-life challenges, issues, and potential solutions, speakers mentioned various advantages including accelerated insurance claim payments, improved access to health records, enhanced targeting, and next-gen security for sensitive patients’ data.

Circle CEO Claim That Crypto is Essential

Jeremy Allaire from crypto finance organization Circle sponsored by Goldman Sachs noted that cryptocurrencies are extremely vital for the modern world and society. As people deserve the decentralized infrastructure and protection of their privacy, cryptography and digital assets based on it can be fundamental for building a better future, Mr. Allaire thinks. Moreover, he claims that crypto money can co-exist and partner with centralized banks.

Jamie Dimon Accepts the Usefulness of Blockchain

Interviewed by CNBC, the JPMorgan Chase’s CEO told he didn’t get any satisfaction from this year’s Bitcoin significant fall. Jamie Dimon also noted that he really likes the idea of blockchain (frankly speaking, this fact doesn’t contradict with Mr. Dimon’s unpleasant words about Bitcoin) and considers it as a cool technology and a solid alternative for traditional databases.

More Info About Bitmain’s IPO

During his talk, the Hong Kong Stock Exchange’s (HKEX) CEO Li Xiaojia answered some questions about Bitmain and its planning IPO. The mining giant made insane money on equipment but decided to work in the area of AI because of Chinese governmental decisions. Then, Bitmain was going into IPO but regulators rejected it, as rumors talk. The HKEX CEO mentioned that businesses have to be persistent and such industry swaps look suspicious. Still, Mr. Xiaojia didn’t mention Bitmain at all.

Various Experts Criticize Crypto

However, a lot of attendees weren’t as positive as Jeremy Allaire or Jamie Dimon. The WEF faced a wave of criticism from the industry representatives, famous economists, and managers. Some of them blamed both blockchain and digital currencies while others focused on digital assets only:

Despite these opinions, the overall attitude was pretty bullish as experts were optimistic to blockchain as a growing promising technology.