The World Ecoonomic Forum (WEF) published a white paper on Realizing the Potential of Blockchain - A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies in June, 2017. This whitepaper authored by Don Tapscott and Alex Tapscott, provides a structured analytical framework and taxonomy for use by industry, technical, governmental, civil society and other stakeholders in considering how they might collaborate to resolve problems and unlock opportunities beyond the reach of any single actor.
Tapscotts, co-authors of the famous book ‘Blockchain Revolution’, had announced the formation of Blockchain Research Institute (BRI) in Canada in DC Blockchain Summit 2017, focusing specifically on use cases for the blockchain technology.
The white paper talks about the Blockchain as a new global resource and discuss it's level of governance - Platform, Application and Overall Blockchain Ecosystem. Blockchain innovators, Venture capitalists, Banks and financial services, Non-governmental organizations, Governments, regulators and law enforcement, Coders and developers, Academics and scholars and ultimately Users are the main players in the Blockchain Ecosystem.
It further explains various governance challenges such as how to scale without weakening the network, emergence of invisible power in absence of governance, how to maintain incentives for mass collaboration, sustainability of the energy consumed, how to address major threats by consensus etc. The white paper further mentions Bitcoin, Ethereum, Hyperledger and talks about how to deal with governance challenges associated with them.
“This report helps us to understand that a distributed blockchain ecosystem need not be a disorganized one, and improved governance need not imply formal governmental legislation or regulation.” - Richard Samans (WEF Managing Board Member)
At the end, this white paper also suggests what needs to be done; a set of actions in hope that these will prompt discussion and provide positive steps that could be taken and that will move blockchain technology forward.
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