Blockchain in Davos - a Presence on the Global Stage
The Blockchain Hub Davos 2023 was a tremendous success, drawing the attention of nearly 6,000 physical attendees and almost 20,000 livestream viewers. The event featured presentations and insights from leading experts in the blockchain industry, including industry leaders, academics, and policymakers. Hosted by CV Labs and Casper Labs, the conference provided a forum for thoughtful discussions on the current state of the blockchain industry.
Situated in the heart of Davos, the annual event is known for bringing together some of the most influential and prominent figures in the blockchain and cryptocurrency space, providing attendees with the opportunity to network and build meaningful connections.
Blockchain, a presence in Davos
Every year, world leaders from various industries gather in Davos to discuss and shape the future of the world economy. As blockchain technology continues to gain traction and disrupt traditional industries, it is becoming increasingly important to have a presence at Davos during the WEF - one of the most important weeks of international public-private cooperation.
Having a presence in Davos while the world's attention is on it is crucial for blockchain technology as it helps to establish the technology as a viable and vital player in global socioeconomics. Cointelegraph even named Blockchain Hub Davos “the epicenter of blockchain collaboration.”
Cryptocurrency, the initial application of blockchain technology, is only the tip of the iceberg in terms of the potential of the technology. The decentralized nature, promotion of socio-economic fairness, and improved efficiencies for various industries have become increasingly evident as the true utility of blockchain technology is being revealed.
Unlocking the Potential of Blockchain: Insights from Davos
The agenda for the event was diverse and covered a wide range of topics related to blockchain technology. From Digital Assets, DeFi, and Enterprise Applications to the Metaverse, NFTs, and Gaming. The Hub explored what drives the blockchain space today and how it is shaping the future - both near and far. The focus of the event was broadly centered on realizing blockchain’s promise.
Over the course of three days, attendees were able to examine the current state of the digital asset market, learn about how businesses and governments around the world are using blockchain technology in meaningful ways, and discuss broader economic and societal trends that will shape the blockchain space for the next decade and beyond.
A growing trend of decentralization
A noticeable topic of many discussions was the growing trend of decentralization facilitated by blockchain technology. Industry experts highlighted the potential for individuals and businesses to lower costs and increase revenues by adopting distributed ledger technology.
Blockchain technology's decentralized systems in the supply chain industry increase transparency, reduce costs, and improve efficiency. For instance, Walmart is using blockchain to track the origin of produce and ensure food safety, while Maersk is using it to track cargo and improve shipping efficiency. These decentralized systems allow multiple stakeholders to participate, share information, and benefit from cost savings and increased efficiency.
Transforming the ESG data landscape
Another topic delved into was how blockchain is transforming the landscape of environmental, social, and governance (ESG) data. It was noted that the traditional centralized systems for collecting and reporting ESG data have proven to be opaque and unreliable, resulting in a loss of trust and poor decision-making. Discussions highlighted how blockchain is helping to revolutionize this by creating a decentralized system for ESG data.
Tee Ganbold, Executive Chair of OpenESG, gave insight into the role of blockchain in increasing transparency in ESG data. Ganbold emphasized the importance of ESG data for lending purposes, highlighting that lenders need access to accurate ESG data and that companies must have an open source for this information. Reporting on ESG data will soon be a regulatory requirement, starting in Europe in 2024.
The Success of the CV Labs Davos Networking Lounge
Besides co-hosting the 2nd edition of the Blockchain Hub Davos, CV Labs offered a second venue this year, the Networking Lounge. Located at Obere Strasse 33, the Lounge was a true epicenter for blockchain networking and building relationships. With over 1300 registrations, the lounge was a resounding success, always bustling with activity and offering a welcoming atmosphere away from the winter weather.
The lounge featured talks that delved deeper into the topic of blockchain technology, including an event organized by DAOVOZ, and an exciting event hosted by TrustSwap and ArtMeta. The Networking Lounge was a key component in fostering partnerships and collaborations.
By showcasing blockchain technology at Davos, it advances the conversation forward and increases public awareness and understanding of how the technology is being adopted and integrated into society. It also fosters new partnerships and collaborations between those in attendance and helps further the technology's development.
Crypto Valley's Maturity and Steady Growth in the Spotlight
During the Blockchain Hub Davos activities, the CV VC Top 50 Report 2022 was launched. This report showcased that, despite the ongoing market volatility, commercial blockchain companies in Crypto Valley (Switzerland and Liechtenstein) have defied typical industry trends, with an impressive 55% growth in market valuations. Additionally, there are 9 unicorns in Crypto Valley, which is indicative of the maturity of Crypto Valley.
Blockchain in Davos: Establishing Viability and Significance in the Global Economy
As the world continues to navigate the ever-evolving landscape of technology and innovation, one topic that has been at the forefront of discussions is the potential of blockchain technology. From finance to supply chain management, blockchain applications are vast and varied, and their impact on the global economy is undeniable. As such, it was no surprise that the 2nd edition of the Blockchain Hub Davos was a hot topic on the streets of Davos.
At CV Labs, our mission is to ensure blockchain technology continues to have a strong presence in Davos during the World Economic Forum. We believe our efforts can facilitate collaboration, promote innovation, and increase public awareness and understanding of blockchain technology's vital role in shaping the future of the global economy. As organizers of the Blockchain Hub Davos, we are committed to ensuring blockchain is at the forefront of international discussions on technology and innovation.