World Economic Forum published a report on Aug, 11 that is a ringing endorsement of blockchains. It is the technology underlying cryptocurrencies such as bitcoin, Litecoin, Dogecoin and their potential to reshape modern finance.
The report failed to mention bitcoin, or ethereum, a similar digital currency that has gained huge momentum for its ability to execute smart contracts. However, the report instead euphemistically refers to “distributed ledger technologies,” a reference to the fact that blockchains rely on multiple copies of transaction records, thus removing the need for a trusted, central authority.
The report says:
“DLT has great potential to drive simplicity and efficiency through the establishment of new financial services infrastructure and processes.”
The study, based on a year of research and discussions with financial institutions around the world, notes that 80% of banks are expected to start these projects in 2017 and that more than 90 central banks are currently discussing the use of the technology.
What’s not mentioned is precisely which blockchains will be used. Please comment below your views about it. Thanks