Davos 2024: Blockchain, technology of the future
The second day is a wrap! Today’s programming in Davos was all about digital assets, and we attended a thought-provoking session on research and development (R&D). Today’s themes were as follows:
- Trust in decentralized networks
- Risk management
- Technology’s influence on improving R&D
Trust, and rebuilding it, is one of World Economic Forum’s 2024 themes, and one of our focuses at Partisia Blockchain. Today, our co-founder Brian Gallagher participated in the panel about the sustainability of the recent growth in crypto. Panelists spoke specifically on building decentralized trust networks and how these work around data protection—something at the heart of our multiparty computation (MPC) approach to facilitating transactions of all kinds, whether votes, permissions, or digital assets. They made the relevant points that for maturing industry trust between multiple parties, privacy of each party and an infrastructure that can facilitate that is vital for the long-term growth.
An important, related, issue to trust and data protection is risk management, especially for crypto assets. Again, as on the first day, regulation took center stage and the vital role it plays in managing risk in digital assets markets and protecting market participants. The feeling was that each party bears the responsibility in a healthy, sustainable and inclusive market environment.
The thread up until now in our presence at Davos seems to be how technology can be used to make essential financial and other processes more efficient and safer while mitigating risks. We attended WEF’s sessions on technology’s role in addressing air pollution and innovations disrupting research and development (R&D). We also attended the Wall Street Journal’s session on artificial intelligence (AI) and its risks. And here again we saw ample room for blockchain technology to improve processes in a way that fits several use cases while minimizing risk. It truly has the potential to be the technology of the future. The feeling was of big corporates’ willingness to invest more in emerging technologies, such as blockchain, to increase transparency and mitigate potential risks.