The Blockchain Revolution in Finance
During the lively discussions at the Global Blockchain Business Council’s Blockchain Central Davos 2022, panelists dove deep into how blockchain is reshaping the financial landscape. Moderated by Cointelegraph’s Kristina Lucrezia Cornèr, the session featured heavyweights like Makoto Takemiya from Soramitsu, Johannes Duong from Oesterreichische Nationalbank, and Jason Chlipala from the Stellar Development Foundation.
Breaking Stereotypes at WEF
This year’s World Economic Forum was more than just a gathering of financial titans; it was an invasion of the ‘barbarians’—the blockchain advocates shaking things up. Takemiya pointed out that the stereotype of WEF as a haven for the wealthy elite holds less water now. He proclaimed,
“Blockchain companies are the barbarians at the gate of the WEF.”
The Education Imperative
With the minimal mainstream understanding of blockchain technology, the panelists highlighted the urgent need for education. Duong discussed how Austrian universities are stepping up with blockchain courses that approach the subject from a balanced perspective.
“We are trying to see it from a neutral position,”
he emphasized, hinting at the importance of fostering informed dialogue.
Current Market Dynamics: CBDCs and Stablecoins
As cryptocurrency remains a hot-button topic, the panel explored issues surrounding Central Bank Digital Currencies (CBDCs) and stablecoins. Chlipala compared the tumultuous journey of Diem with the recent events surrounding Terra, suggesting such developments could propel regulators towards clarity.
“This could be the impetus for really starting to get some regulatory clarity and some business clarity,”
he noted, linking trust with transparency.
A Positive Outlook Amid Crypto Winter
Despite the hiccups in the market, not everyone is wearing a perpetual frown. Sheila Warren from the Crypto Council for Innovation expressed a hopeful outlook for blockchain’s future, and Ripple’s Brooks Entwistle insisted that building during a crypto winter is essential. After all, he reminded us:
“This has happened before and it’s likely to happen again.”
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