The World Economic Forum Adds a Voice for Digital Currencies

14 Jul, 2020
The World Economic Forum Adds a Voice for Digital Currencies

What does the World Economic Forum have to do with your digital currency wallet?  Plenty.  In fact, the WEF has become one of the more powerful voices for driving digital economies – and with it, digital currencies into the mainstream global markets.  If and when that happens, imagine what your crypto will do for you.

First, it’s important to consider what the World Economic Forum is and does.  The WEF is an international organization that brings together more than 200 countries to tackle some of the more pressing problems on the planet.  “The forum strives to model world-class corporate governance, where values are as important as rules,” it states. “Legitimacy, accountability, transparency and concerted action are the guiding principles of the Forum.”

Let’s face it.  Legitimacy, accountability and transparency have been some of the hot spots for crypto currencies since the first bitcoin was mined.  The Silk Road, Mt. Gox and the Crypto Winter are incidents that gave cryptocurrencies a bad name among the general public. They stood for fraud, criminal activity, and loss of assets.  And yes, during the initial “Wild West” years of the crypto market, anything could and did happen.

But beyond these risks there emerged one ideal that crypto lovers and crypto doubters could agree on: blockchain, the very basis of cryptocurrencies, could revolutionize the way people held and exchanged assets.  And from the WEF’s standpoint, this idea is significant. Because the WEF is passionate about leveling the playing field so all people have the right to manage their assets.

“An estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platform business models,” the WEF states. So consider this: 1.7 Billion adults around the world are “unbanked,” the World Bank organization says, yet two-third of them own a mobile phone.

Imagine the possibilities crypto offers for people currently without access to banking services for whatever reason. That’s what Shelia Warren Head of Blockchain and Data Policy, Member of the Executive Committee, World Economic Forum, addressed at the recent Unitize conference.  Those are the people who will drive mass adoption.

“They’re the hardest to build for in many ways, but they’re the people most willing to accommodate or try something new,” she said.

And so, as the WEF is driving access to digital markets for all, you can rest assured that this powerful organization will help further legitimacy, accountability and transparency across the entire crypto market.  At STEX, we’re on the same page as the WEF. We work every day to ensure our exchange provides you with the strongest and most comprehensive protection of your information and assets. As the rest of the world comes online, your digital wallet will become even more powerful and valuable in the “Global Fourth Industrial Revolution.”