Realizing the potential of blockchain, 2017
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This document discusses the need for a multistakeholder approach to governing blockchain technology and cryptocurrencies. It identifies various stakeholders in the blockchain ecosystem like innovators, investors, developers and regulators. It proposes that like the Internet, blockchain requires cooperation across stakeholders and sectors. The document outlines challenges around stewardship of blockchain platforms, applications and the overall ecosystem. It advocates forming networked institutions, standards bodies, advocacy groups, and knowledge networks to help blockchain reach its full potential.
Realizing the potential of blockchain, 2017
- 1. Realizing the Potential of Blockchain A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies June 2017 Authors: Don Tapscott and Alex Tapscott Source: https://www.weforum.org/whitepapers/reali zing-the-potential-of-blockchain
- 2. Contents RB
- 3. Preface RB
- 5. The Blockchain as a new Global Resource RB
- 6. New Thinking in How to Steward a Global Resource: The Internet as a Case Study RB
- 8. Blockchain Governance Challenge 1. Stewardship of platforms RB
- 9. Blockchain Governance Challenge 2. Stewardship of applications RB
- 10. Blockchain Governance Challenge 3. Stewardship of the ecosystem as a whole RB
- 11. The Players in the Blockchain Ecosystem RB Although blockchain technology emerged from the open-source community, it quickly attracted many stakeholders, with different backgrounds, interests and motives. Each has a role to play. There are early signs that many of the core stakeholders see the need for leadership and are stepping up. “Anyone or organization that is working to promote the acceptance and use of blockchain-based technologies is a steward of the ecosystem,” said Perianne Boring of the Chamber of Digital Commerce.Here are the players and their perspectives on governance: Blockchain innovators Venture capitalists Banks and financial services Coders and developers Academics and scholars Non-governmental organizations Governments, regulators and law enforcement Users
- 12. The “Global Solution Networks” (GSN) Framework Applied to Blockchain RB
- 13. Summary: What Needs to Be Done RB While our goal was to create a language and structure to think about the stewardship of blockchain and not to make specific recommendations to particular stakeholders, some sensible next steps did emerge. The time for global action is now. We believe people, institutions and industries throughout the world need blockchain technology and we must do all we can to make it available. Here is a set of actions that will move this technology forward. Our hope is that these will prompt discussion and provide positive steps that could be taken. 1. Networked institutions - to attract the necessary level of stakeholder participation, 2. Standards networks - to break the deadlock of bitcoin platform development, 3. Advocacy networks - to forestall regulatory, legislative, judicial or executive action that might stifle further innovation, 4. Policy and watchdog networks - much must be done to address the need for better monitoring of blockchain problems 5. Delivery networks -the Hyperledger Project, the Enterprise Ethereum Alliance and the Trusted IoT Alliance are three important organizations providing feedback on protocols and doing work at the applications level 6. Knowledge networks (education) - to address the urgent need for diverse talent and expertise in the ecosystem, 7. Knowledge networks (applied research) - Blockchain may be the least known and least understood technology of the Fourth Industrial Revolution. 8. Knowledge networks (scientific research) - to accelerate research so that knowledge catches up with investment, This second era of the internet promises to create new opportunities for a more prosperous world. Prosperity is about one’s standard of living. To achieve it, people must have the means, tools, and prospects for creating material wealth and thriving economically.
- 15. Source RB WhitePaper: Realizing the Potential of Blockchain A Multistakeholder Approach to the Stewardship of Blockchain and Cryptocurrencies, June 2017. World Economic Forum https://www.weforum.org/whitepapers/realizi ng-the-potential-of-blockchain