Communities Centre for the Fourth Industrial Revolution Shaping the Future of Technology Governance: Blockchain and Distributed Ledger Technology
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Communities Global Future Councils System Initiatives

Shaping the Future of Technology Governance: Blockchain and Distributed Ledger Technology

How can we ensure that everyone – from the most marginalized members of society to the most powerful – benefits from blockchain’s transformative potential?

Blockchain, an early-stage technology that enables the decentralized, secure storage and transfer of information, has the potential to be a powerful tool for tracking and transactions that can minimize friction, reduce corruption, increase trust and empower users. Cryptocurrencies built on distributed ledger technologies (DLT) have emerged as potential gateways to new wealth creation and disrupters across financial markets. Other revolutionary use cases are being explored in almost every sector, ranging from energy and shipping to media.

DLT has the potential to transform entire systems, but it also faces challenges, including lack of interoperability, security threats, centralization of power and unwillingness to experiment due to recent overhype. The Platform for Shaping the Future of Blockchain and Distributed Ledger Technology at the World Economic Forum aims to support the co-designing and testing of policy frameworks and governance protocols to accelerate the societal benefits of, and mitigate the risks from, distributed ledger technology. We work with our partners to advance a systemic and inclusive approach to governing DLT, which makes it possible to ensure that everyone can benefit from this powerful technology.