WEF Launches Global Consortium for Crypto Governance

WEF Launches Global Consortium for Crypto Governance 1

The World Economic Forum has created an international consortium to design a governance framework for cryptocurrencies, including stablecoins.

Announced Friday, the consortium seeks to bring together financial institutions, government representatives, developers and other members of the global community to determine what sort of governance around cryptocurrencies can best further the goal of financial inclusion.

Digital currencies are “a key area of interest for the Forum,” said WEF Founder and Chairman Klaus Schwab. The area “requires input across sectors, functions and geographies.”

“Building on our long history of public-private cooperation, we hope that hosting this consortium will catalyse the conversations necessary to inform a robust framework of governance for global digital currencies,” he said.

The new consortium has buy-in from a number of central banks from developing nations, as well as the Bank of England’s Mark Carney (who has opined on the potential of digital currencies before) and several non-governmental organizations.

David Marcus of the Libra Association, Joe Lubin of ConsenSys and Neha Narula of MIT’s Digital Currency Initiative also praised the effort in a press release.

The news comes just days after the WEF’s blockchain lead, Sheila Warren, and project specialist Sumedha Deshmukh outlined a “Blockchain Bill of Rights” created by the group. A group of central banks also announced last week that they would create a working group to evaluate use cases for the nascent technology.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

GamStop
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin33,502 0.61 % 7.11 % 22.30 %
Ethereum2,200.6 0.26 % 12.34 % 34.43 %
Tether1.000 0.37 % 0.14 % 0.15 %
Binance Coin342.99 0.51 % 11.36 % 31.21 %
USD Coin0.9984 0.36 % 0.61 % 0.14 %
Cardano0.9692 0.24 % 14.32 % 31.23 %
XRP0.5648 0.36 % 9.86 % 27.54 %
Solana82.90 0.63 % 19.15 % 43.96 %
Terra60.92 0.91 % 11.96 % 29.98 %
Polkadot16.26 0.79 % 13.57 % 41.40 %

bitcoin
Bitcoin (BTC) $ 33,650.00
ethereum
Ethereum (ETH) $ 2,217.27
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 342.66
usd-coin
USD Coin (USDC) $ 1.00
cardano
Cardano (ADA) $ 0.971255
xrp
XRP (XRP) $ 0.567745
solana
Solana (SOL) $ 82.92
terra-luna
Terra (LUNA) $ 60.85
polkadot
Polkadot (DOT) $ 16.26