What happened in Davos?

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5 Aug 2023

An annual conference organized by World Economic Forum took place in Davos (Switzerland) between 16th-19th of January 2023.
Every year a bunch of very mighty men gathered in one place to decide what the future of the rest people in the world will look like.
The Agenda of the WWE conference was quite voluminous and contained branches such as:
Agriculture, food, and beverage; blockchain; circular economy; cities and urbanization; diversity and inclusion; economic progress; emerging technologies; energy transition; financial and monetary systems; health and healthcare; manufacturing; mobility; Ocean; the Digital Economy; trade and investment.
I'd like to focus on two or three of them, mainly referring to blockchain, cryptocurrency, and the economy.
As we can all see, blockchain techs and cryptos made so a big impact, that even the mighty men of this World have to turn their eyes to it.
Do they see possibilities or hazards for the World order made by them?
Let's take a look, at what I found entering the Blockchain tab:
"OUR MISSION
Helping digital ledger technology reach its full potential.
The World Economic Forum is committed to helping ensure that blockchain securely decentralizes the transfer of information in ways that reduce corruption, increase trust, and empower users.
We aim to work with partners and members to guarantee that everyone, including the most marginalized members of society, can benefit from both blockchain and the cryptocurrencies that are potential gateways to new wealth creation."

Under this statement, we pretty fine movie spots and quite interesting articles.
The one titled: "Crypto mining can retire fossil fuels for good. Here’s how", concerns blockchains and cryptocurrencies based on proof of work consensus (like Bitcoin) and the way they are mined.
It admonishes the huge energy amounts that are consumed during mining and considers the ways how to reduce the costs and carbon footprints.
The main proposal is to establish legislation that will promote renewable energy sources mining and limit fossil energy sources mining.
That goal will be achieved by the use of proper legislation rules created and executed by government agencies.
The article is also mentioning about possibilities of using blockchain technologies in the space industry, which seems to be a very interesting solution.

Other subjects which touches the blockchain and cryptocurrency implementations in industry and financial products we can find in articles named:
"The Macroeconomic Impact of Cryptocurrency and Stablecoins",
"5 key points from the Financial Stability Board’s review of crypto assets", or
"Sanctioning a cryptocurrency protocol: What does that mean for Web3?".
Most of the articles mention the necessity of introducing particular and strict regulations of cryptocurrencies and crypto assets, and this topic is so wide, that I'd like to put it in a separate article.

Moreover, referring to the same conference, the Davos was visited by many blockchain companies representatives, like Circle, Hedera, Ripple, and others as lobbyists. So, in my opinion, its always worth of getting to know, what people guest the WWE meetings and how their businesses are going.

Well, the fact that such blockchain and cryptos were considered at Davos Conference, shows its powerful influence in our life, and I'm sure it will last for a long time.

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