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Blockchain Dynamic Briefing

Published: 2021-01-01

Organization: WEF

Overview: Blockchain can enable greater trust and transparency through decentralization, cryptography, and the creation of new incentives. Best-known as the digital underpinning of Bitcoin, it has evolved into a foundational technology with promise in many areas and applications. The financial sector is investigating blockchain as a means to replace expensive and inefficient payment systems, and it could reshape supply chains - particularly in combination with the Internet of Things and artificial intelligence - while boosting the practical, day-to-day use of smart contracts, digital currencies, and digital identities. However, blockchain is not a silver bullet. Many questions remain about the best use of the technology and its governance.

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