The head of the world Bank, acknowledged the huge potential of the blockchain
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World Bank President Jim Yong Kim believes that the blockchain has huge potential. In his opinion, banks should keep pace with innovative technologies. Other advantages of crypts Kim said at the annual summit of the world Bank in Bali.
theAs the blockchain will change the world
Kim drew attention to the importance of fighting poverty, while increasing the emphasis on welfare. In his opinion, in the technological world, there are innovations that can help overcome bad practice in the fight against corruption.
We were talking about crypto currency, but the blockchain has more potential. We will remind, in August, we issued the first bond on the blockchain. It was created, hosted and transferred with this technology.
In late summer the world Bank has signed an agreement with Australia's Central Bank, according to which the latter issued a special bond exclusive on the blockchain.
It Turns out that the decentralized block chain significantly reduces the amount of paperwork that can be very useful in the future. However, in his latest experiment, the world Bank and not used all the most modern achievements of a developing industry.
The Main goal is by 2020 to provide continuous access to any financial services. According to Kim, to get this job done without the blockchain is impossible.
It is Noteworthy that the world Bank President publicly criticized the digital assets. In October last year, Kim gave the blockchain, but criticized .
image Source — targeting of the Somaliland Monitor
The Blockchain is something that everybody is now talking about. However, we must understand that Bitcoin is just one of possible ways of practical implementation of the technology. In other cases, the blockchain is often used in pyramid schemes and other types of fraud.
The world trade organization also recognizes the great potential of the industry. Earlier, the WTO experts found more than 65 practical applications of the blockchain.
The Information is prepared in .
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