The WEF Head of Blockchain and Distributed Ledger Technology (DLT) is in the latest cryptocurrency news for praising the technology and claiming that it could be a solution to the worsening trust crisis which happens globally as we speak. We are talking about Sheila Warren, who is the head in charge of blockchain and DLT at the World Economic Forum.
Warren commented on the technology during an interview with a crypto currency news site shared on May 31. During this interview, she claimed that the public trust towards governments, banks as well as media and institutions is “rapidly eroding” and noted that she thinks that blockchain, if used correctly, can be a solution to this problem.
As the WEF Head of Blockchain Sheila Warren revealed:
“This technology could provide access to information that could enable third parties or other groups to actually come in and conduct audits of what is happening. And I actually think that could build faith back in institutions.”
She then continued explaining how the technology could help our systems and shared her belief towards the implementation of such auditable systems would be laborious. However, she believes that being able to prove the fairness of public processes as well as the authenticity of various media would bring many benefits. The WEF Head of Blockchain also noted that – if not solved – the trust crisis will have far fetching consequences.
“In my opinion that [erosion of public trust] is one of the biggest crises we face. Because you’re going to rapidly move towards anarchy and that is a deep, deep problem,” Warren noted.
As the WEF Head of Blockchain, Sheila Warren has lots of responsibilities. Aside from her statement about blockchain which was reshared by many best cryptocurrency news sites, she also made another statement. In it, she pointed that the six councils recently formed by the WEF (and dedicated to the fourth industrial revolution which is blockchain technology) are also meant to be a trusted place for world leaders – allowing them to experiment, share their challenges, concerns and success stories involving the technology.
A while ago, altcoin news broke stating that the WEF has partnered with more than 100 global supply chain and logistics leaders in order to standardize blockchain apps within the industry.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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