The 48th World Economic Forum, members of which are about 1,000 major global companies and organizations, was held from January 23 to 26 this year in Davos. The key subjects of the forum were cryptocurrencies and blockchain technology.
This event was attended by a significant number of cryptocurrency investors, blockchain enthusiasts, crypto-anarchists and ordinary financiers and entrepreneurs. This fact shows the society begins to realize the whole prospect of the blockchain and tries, with the help of experts, to clarify the concept and operation of this technology.
On the forum the blockchain itself was discussed, how it could be controlled, as well as the possibility of moving the world to a single blockchain and its predictions for the future. It became known that in December 2018 the volume of the digital assets market reached capitalization of $ 800 billion and a daily trading volume of $ 50 billion. As a result, blockchain projects with a world GDP of $ 75 trillion account for 1% of the global economy. These data aroused surprise and interest among the majority of financiers.
Most members of the forum tried finding tools to take control of the blockchain system. And as a result, a decision was made to work out an agreement at the state level in order to be able to coordinate each other. But as practice shows, it is unlikely that countries will be able to agree on this issue, since there is already a fierce competition between them in the global blockchain market. Well, attempts by some participants to impose a ban on cryptocurrencies and blockchain, merely demonstrated their incompetence in this issue.
Many experts on the future of the cryptocurrency gave extremely negative forecasts. For example, the head of the International Monetary Fund, Christine Lagarde, talked about the damage to the world’s energy industry in bringing the cryptocurrency, and the American trader and financier George Soros dubbed cryptocurrencies as a “nest for dictators.” But all this speaks only of how large-scale the use of blockchain in the world has become.
With certainty, we can say the past forum has become an indicator of the so-called “HYPE” for the blockchain. And as a result, now many are trying to figure out and make up their own opinion about this technology. And as the proverb says: “The dog barks, but the caravan goes!”