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  • How Bitcoin Will End World Poverty- Interview

    SINGER: Okay. The Institute for Liberty and Democracy in Peru, I really think Hernando de Soto should win the Nobel prize for the work he’s done. I hope he does. But he’s going around the world and identified one of the most powerful things to the economy and the creation of wealth. And that is the ownership of property. FORBES: Which you can then use as collateral.  Read More
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    Thomas Piketty’s book Capital In The Twenty-First Century has attracted worldwide attention, not because he crusades against inequality –many of us do that– but because of its central thesis, based on his reading of the 19th and 20th centuries, that capital “mechanically produces arbitrary, unsustainable inequalities”, inevitably leading the world to misery, violence and wars and will continue to do so in this century. Read More
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At the Blockchain Summit, the renowned economist Hernando de Soto presented his plan to help citizens title their property, such as land and automobiles, through blockchain. If such systems were introduced worldwide, de Soto predicts they would help bring $20 trillion of what he calls “dead capital” into the world economy and lift millions out of poverty. Already there have been some first steps: in October, the Crown Prince of Dubai announced a project that would see all government documents secured on a blockchain by 2020.

However, realising such a monumental task will not be easy, so it will fall to organisations like the GBBC to bring together the world’s leading businesses and business leaders to highlight the latest innovations and advances in what remains a poorly understood technology, while also serving as a resource centre and providing a forum for education, collaboration and partnerships in the blockchain space.

“We need an authoritative body that will focus on highlighting the latest innovations in blockchain technology and educating businesses on how they can adopt it,” Mercina Tillemann-Dick, executive director of the GBBC, tells bne IntelliNews, adding that this will be the first body in the blockchain ecosystem aimed at achieving such aims. “There is a false perception that blockchain technology is too complicated. The GBBC will help business leaders around the world see for themselves just how easy – and important – it is to use.”

“Blockchain has the potential to be the next great technological innovation, revolutionizing areas from cross-border payments, trade finance and land registries to government records,” says Sebastian Vos, co-chair of Covington’s global public policy and government affairs practice. “Through advocacy and international engagement, Covington looks forward to working with the Global Blockchain Business Council to unlock the potential of Blockchain technology.”

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