{"id":25352,"date":"2016-08-17T07:22:31","date_gmt":"2016-08-17T07:22:31","guid":{"rendered":"https:\/\/www.retarus.com\/blog\/wef-thinks-highly-of-blockchain\/"},"modified":"2026-08-12T08:32:31","modified_gmt":"2026-08-12T08:32:31","slug":"wef-thinks-highly-of-blockchain","status":"publish","type":"post","link":"https:\/\/www.retarus.com\/blog\/en\/wef-thinks-highly-of-blockchain\/","title":{"rendered":"WEF thinks highly of Blockchain"},"content":{"rendered":"\n
The World Economic Forum (WEF) anticipates that the technology behind the virtual currency Bitcoin will come to occupy a crucial role in the global finance system. <\/span><\/p>\n\n\n\n The crypto-currency Bitcoin is not mentioned at all in the new 130-page World Economic Forum report<\/a>. The organization rather explicitly backs the blockchain technology. \u201cRather than stay at the margins of the finance industry, blockchain will become the beating heart of it,\u201d said Giancarlo Bruno, Head of Financial Services Industries at the World Economic Forum, in a press release published to coincide with the release of the report<\/a>.<\/span><\/p>\n\n\n\n In the context of Bitcoin, blockchain originally signified the database in which all Bitcoin transactions were recorded and stored. Unlike the ledgers or databases that banks and other institutions utilize, a blockchain is not updated or operated by any one specific company or government agency, but rather by a network of users. That is precisely why the technology is also so attractive for the finance sector. <\/span><\/p>\n\n\n\n