Head of the World Economic Forum Blockchain: Blockchain technology can solve the crisis of trust

According to Cointelegraph, June 1st, Sheila Warren, head of the World Economic Forum's blockchain and distributed ledger technology, said in an interview that the blockchain can solve the global crisis of growing trust.

Impression of the making of the Annual Meeting 2011 of the World Economic Forum in Davos

(Source: Visualhunt )

Warren believes that public trust in government, banks, the media, and American institutions is "slowing up quickly," and that the use of blockchains can solve this problem:

Blockchain technology can provide access to information and access to third-party groups, and then audit the real situation. This can help organizations rebuild trust.

Later, Warren explained that she believes that implementing such an audit system requires a lot of work and is not easy, but it can bring huge benefits, that is, to prove the fairness of public processes and the authenticity of the media . She also said that if it is not properly resolved, the crisis of confidence will have far-reaching implications:

The reduction of public trust is one of the biggest crises we face. Because this will lead to a rapid social transition to anarchy, which is a serious problem.

At the same time, Warren admitted that she had held the bitcoin story "almost like a joke", but she did not link Bitcoin to the blockchain for quite some time until she later learned about the blockchain. She said:

It took about three years from the first time we bought Bitcoin to what I understood between blockchains.

Warren also pointed out that the six councils recently established by the World Economic Forum are dedicated to advancing the fourth industrial revolution, including blockchain technology. This also shows that the World Economic Forum is a place that the world leaders trust, and they are willing to experiment and share the technical challenges, concerns and successful examples.

Earlier this month, it was reported that the World Economic Forum has partnered with more than 100 global supply chain and logistics leaders to standardize blockchain applications in the industry.