Davos Agenda deals with cryptocurrencies and blockchain

Today, January 25, 2021, the Davos Agenda of the World Economic Forum starts for the 51st time. In addition to topics such as environmental awareness and healthy eating, there will also be sessions on cryptocurrencies this year.

Unlike in previous years, due to the COVID-19 pandemic, the annual meeting of the World Economic Forum (WEF) takes place virtually and not on site in Davos, Switzerland

However, the virtual process is not the only innovation on the Davos agenda. For the first time, topics related to crypto currencies are discussed under the heading “Fairer Economies”. In total, more than 2,500 representatives of the WEF Foundation will take part in the Davos Agenda. The Governor of the Bank of England, Andrew Bailey, and the CEO of Western Union, Hikmet Ersek, among other prominent figures in the financial sector, participate in discussions regarding cryptocurrencies. In a total of five days, two separate sessions – on Monday and Thursday – will be topics on Bitcon Benefit cryptocurrencies andInclude blockchain .

Davos Agenda: Blockchain and CBDC priorities

COVID-19 has accelerated the long-term shift in cash. Meanwhile, central bank digital currencies are emerging that may transform the way people handle money around the world.

So it says in the program Agenda called „GBBC (Global Block Chain Business Council) Block Chain Central Davos“. Accordingly, the focus of the first session is the emergence of CBDCs and the associated decrease in cash. Digital currencies have been an integral part of the Davos agenda since last year. In January, the WEF launched a framework that banks can use to better assess CBDCs and thus better use them. Board member Andrew Bailey already commented on these topics in September 2020 and questioned the sustainability of cryptocurrencies:

Their value can fluctuate quite wildly, which is not surprising. They appear to me to be unsuitable for the world of payment transactions, in which value security is important.

The second day of the meeting on Thursday will take place under the name “Blockchain, AR, VR, IoT – How new technologies are changing the media landscape”. Participants will include Nikita Bokarev, CMO at Sensorium Corporation and Michael Casey, COO at CoinDesk.

It will be interesting to see what will come of the two-day discussions about cryptocurrencies and blockchain. The fact that cryptocurrencies have made the leap into the annual meeting of the World Economic Forum shows, however, that these topics are increasingly moving into the focus of the most important researchers and institutions of this world.