WEF: Cryptocurrencies Have The Potential To Create New Markets

The World Economic Forum and its Crypto-focused Global Council of the Future,published the first report highlighting the importance of cryptocurrencies. It mentions key metrics for leading digital currencies including Bitcoin, Ethereum, Ripple, Tezos, and Litecoin.

According to a report released on December 17th,cryptocurrencies have the potential to create new markets. In addition, the importance of blockchain technology and use cases for digital assets were highlighted.

In the document of the World Economic Forum(WEF) focused on the fact that the use of blockchain technology in the World Food Program. More than 106,000 Syrian refugees in Jordan have received food aid using blockchain technology.

As a result, refugees received benefits worth about $ 23.5 million in 1.1 million blockchain transactions with 98% savings on bank fees.

Commenting on the published report, Sheila Warren, Head of Blockchain, Data and Digital Assets at the World Economic Forum, commented:

«WEF helps us expand our knowledge anduse innovation to shape a more inclusive future. This Council will provide us with greater awareness and understanding of the benefits and risks of cryptocurrencies, while helping to ensure that the benefits eventually become available to the entire global economy.

WEF recently announced the creation of the Global Councilof the future on cryptocurrencies to assess opportunities and challenges associated with digital assets. CoinShares Chief Strategy Officer Meltem Demirors and Head of Visa Cryptocurrency Kai Sheffield have been appointed as co-chairs.

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