Will 2020 be the year blockchain overcomes its hype?

-In 2019, the focus on blockchain shifted from hype to quality.

-In 2020, there is an opportunity for blockchain to have a social impact.

-But projects will only succeed if there is adequate governance and a collaborative approach.

 
Another year has rolled on by, and while many things in the blockchain space have changed, a lot remains the same. 2019 saw a continued cooling of indiscriminate funding and a renewed focus on quality over hype. In addition, we’ve seen the acknowledgement by some big names, including Facebook and the other Libra Association members, and even a few central banks, that blockchain technology, and digital currency, are truly exciting innovations that just need a bit more experimentation to stick.

At the World Economic Forum, we’re keen to ensure that greater blockchain adoption, which we deem inevitable, happens in ways that support inclusion and avoid replicating the consolidation of power that currently exists, particularly in the financial system. In addition, we remain focused on rationalizing this technology across sectors and publicizing our learnings in an effort to guide the public sector and civil society knowledge, funding, and robust experiments.

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