Cryptocurrency forms the Davos Agenda of the World Economic Forum

Cryptocurrency forms the Davos Agenda of the World Economic Forum

The upcoming Davos Agenda of the World Economic Forum will feature two separate cryptocurrency sessions. Offering another compelling sign that digital assets have penetrated mainstream awareness.

Moreover, on Monday and Thursday, the sessions, titled Resetting Digital Currencies, will be held. Five public speakers included in the first session, including Governor Andrew Bailey of the Bank of England and Western Union President and CEO Hikmet Ersek.

Four speakers will be in Thursday’s group, including Tharman Shanmugaratnam, Senior Minister for the Government of Singapore, and Zhu Min, Chairman of the Beijing-based National Financial Research Institute.

“COVID-19 has accelerated the long-term shift from cash,”  reads the prospectus for both sessions. “Meanwhile, central bank digital currencies are emerging, potentially transforming how people use money worldwide.”

It continues:

“What policies, practices and partnerships are needed to leverage the opportunities posed by the rise of digital currencies?”

The Davos Agenda a five-day summit

The Davos Agenda is a five-day summit featuring some of the leading financial and government figures in the world. The cryptocurrency sequence falls under the “Fairer Economies” theme of the summit. “Tech for Good,” “How to Save the Planet” and “Healthy Futures” are other themes.

The World Economic Forum devotes more resources to the understanding of blockchain and cryptocurrency technologies. And a cryptocurrency working group established by the Geneva-based organisation. Which only last month published its inaugural review focusing. In addition, the various use cases for digital assets ‘beyond price and speculation.’

Moreover, the Forum’s research cited blockchain technology as a key driver of “sustainable digital finance”. According to its researchers, blockchain and intelligent contract capability can unlock “hidden values of legacy digital systems.”

In addition, Digital currencies of the central bank, or CBDCs, are one area of study that the Forum has delved into over the past 18 months. Also, the organisation announced in Jan 2020 that it had developed a framework to help banks evaluate, design and potentially deploy CBDC. In conjunction with over 40 central banks, financial institutions. And academic researchers, the framework developed.