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World Economic Forum Establishes Consortium to Build Framework for Digital Currencies

Digital Currencies

The World Economic Forum has put together what they call a Global Consortium for Digital Currency Governance as a way to help design some sort of “framework for the governance of digital currencies, including stablecoins,” a release reports.

It notes that this framework is important for cryptocurrencies to be properly utilized, as governance is the only way for them to be accessible by many. Overall, the Consortium is meant to “focus on solutions for a fragmented regulatory system. Efficiency, speed, inter-operability, inclusivity and transparency will be at the heart of this initiative. It will call for innovative regulatory approaches to achieve these goals and build trust.”

Speaking on the matter is Klaus Schwab, the Founder and an Executive Chairman at the World Economic Forum:

“Digital currency, a cross-cutting topic that requires input across sectors, functions, and geographies, is a key area of interest for the Forum. Building on our long history of public-private cooperation, we hope that hosting this consortium will catalyse the conversations necessary to inform a robust framework of governance for global digital currencies.”

Overall, the forum has been working on this Consortium for the past few years and is finally implementing it in order to push forward blockchain, cryptocurrency, and other digital assets.

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/