World Economic Forum Pumps Blockchain

The World Economic Forum [WEC] released a report entitled ” Realising the Potential of Blockchain” yesterday, after which Ethereum gained 30%. The WEC was very pleased with themselves and posted this on their website:

WEC Blockchain Report

Curiously, they didn’t take credit for the flat price of Bitcoin. Read all 46 pages here if you’d like. There is some provoking information in there.

The authors are Don Tapscott, his website is here. Interestingly he is writing a book about the “BLOCKCHAIN REVOLUTION”.

The paper does point to issues with Bitcoin and eludes to the upcoming forking issue and states that Ethereum “is about to eclipse Bitcoin in value.”

Countless times they point to the “lack of governance” in Bitcoin as a hindrance and that is part of why they like Ethereum. The paper is all about “governance” and “stewardship”. Its about what needs to be done to guide Bitcoin and Ethereum along.

My question is: Why try to come in and govern something which you have no rights to govern? This sounded to me like a takeover. “We need to build this framework and step in to make Bitcoin right.” Well, why not just make your own currency then? If the WEC is so pervasive and powerful then copy the Bitcoin code and launch your blockchain.

Vitalik Buterin co-Founder of Ethereum is a brilliant man who launched a revolutionary product. Fortunately, he seems like a pretty stand up guy. Very, very easily he could flip and then the whole Ethereum game is over. Yes, concise leadership can be a great thing when the leader is making the right calls.

Bitcoin doesn’t have that head coach. But why does bitcoin have to be the final answer? If you just closed your ears to the blocksize debate I’d say Bitcoin is and will probably be an incredible success. I would also say that Bitcoin was the first major global launch of a blockchain product. Since when has the first launch of anything been the final answer?

Too often it seems that people want one answer in the crypto space. “We need to take over Bitcoin” or “Ethereum will replace Bitcoin”. Why? Whats wrong with 10,000 different blockchains and currencies? One answer means its easier for governments or large players to step in and control the game. If you want that then just keep your fiat at your bank down the street.

Leave a Reply

Your email address will not be published.