The past year was sought to be a challenging year for the blockchain and cryptocurrency sector, but the enthusiasm of the masses has kept its game.
Brynly Llyr, head of the blockchain and digital assets at the World Economic Forum (WEF), in a recent media interaction, said that the passion and vigor in the blockchain space hadn’t been hindered by the happenings of the past year.
The World Economic Forum (WEF) is an international non-governmental lobbying organization based in Cologny, canton of Geneva, Switzerland. The organization consists of eminent state leaders and private players with inconsistent dialogues to shape global and industry agendas.
Further, she explicitly said that although the interest of financial institutions in cryptocurrencies might have declined, there is still interest in investing in blockchain as a technology in 2023.
Llyr explained the phenomenon and highlighted the existence of blockchain, potential use cases, and the ongoing and persistent drive that its developers still hold.
It is about what the blockchain can enable, what is possible, and I still see a lot of enthusiasm around there. (…) We see a number of use cases and developers that continue to be energized and working on these projects. And I think you still see money coming into them.
Llyr also said we should focus on the positive sides of a decentralized system and highlight its diversification. She counts it as one of the goals to strive for, which is possible only when the wider population is entirely aware of the utilities of blockchain.
“Some of the benefits of a decentralized system is that you get a lot of different viewpoints and a lot of diversity in what is being developed. (…) How will we get there? I think we follow the path of the user. I think when people realize that using these products makes a difference in their lives and they start using them, and we see where the adoption is, that’s where we go.”
Sources reveal that Llyr became the head of blockchain and cryptocurrencies at the WEF after the organization posted a job offer for the concerned position in July last year to measure its growing focus on digital assets.
A few days back, Nigel Green, CEO of a financial management firm, had warned that the WEF would “spectacularly fail” if it didn’t focus on crypto regulation at the 2023 summit in Davos. He also urged world leaders to pace up the process instead of just talking about regulating digital assets.
However, countries and institutions from across the globe have looked highly optimistic toward blockchain technology. Several nations, like Turkey and Colombia, have integrated blockchain technology into their official systems.
A few days back, Todayq News also reported a survey from CasperLabs, a blockchain-based firm, and Zogby Analytics, a market research agency, conducted by over 600 business enterprise “decision makers” in the United States, the United Kingdom, and China. The extended figures revealed that nearly 90% of the businesses surveyed reported deploying blockchain technology in some capacity, whereas 87% opined that they plan to invest in the coming year.