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20
Jan, 2020

World Economic Forum creates “Bill of Rights” for Blockchain

World Economic Forum has created a special committee, which focuses on Blockchain and Distributed Technologies. The goal of the committee is to make proposals about actions and solutions for issues that the crypto world faces and create conditions for effective policymaking from all its member – states.

 

During World Economic Forum (21 – 24 January), a discussion will be held for drafting a “Bill of Rights” regarding blockchain technology, which will bring blockchain’s benefits closer to the consumer base. This case, according to Forum’s experts, needs more regulatory actions from member – states and stricter legal framework. 

 

The recognized threats for blockchain are :

  • Threat for consumer data
  • Threat for reduction of decentralized networks which create value to consumers
  • Threat for further technological exclusion

 

The main discussion pillars in Davos will be :

  • Right for owning and using personal data
  • Right for privacy and security
  • Right for transparency against any system
  • Right for understanding the working conditions for the technology

 

All the above is an important start on how the governments will address blockchain technology and relevant companies in the future.