Blockchain, DLTs, and a Lot of Crypto-Bashing: Main Takeaways From Davos WEF

WEF announced Global Council on Blockchain, co-chaired by BitPesa founderAs one of the most important takeaways from the forum, the WEF appointed the CEO and founder of BitPesa, Elizabeth Rossiello, to serve as one of two co-chairs of the Global Council on Blockchain.

The newly established Blockchain Council, in turn, is part of the San Francisco-based Fourth Industrial Revolution and Cybersecurity Center created by the WEF in 2017.

Later, in May 2019, the council will hold its convention in San Francisco, where it will commence its formal advisory role to the WEF. Its mission seems quite ambitious, given Rossiello's statement that "2019 will be a critical year for the blockchain industry."

Global Blockchain Business Council reported that 40 percent of institutional investors are really bullish about blockchainThe trade association titled the Global Blockchain Business Council presented some evidence regarding investors' interest in blockchain at the WEF meeting.

"There is little doubt about the potential impact blockchain can have on most sectors, and key areas of everyday life," GBBC CEO Sandra Ro commented at the WEF:."Increasingly, the winning organisations of the future will be those that have a clear and comprehensive strategy for blockchain."

Perhaps the harshest of them was New York-based economist Nouriel Roubini also known as "Dr. Doom," who introduced himself as the "Number one public critic of cryptocurrencies and blockchain" during a panel hosted by crypto exchange LaToken.

In the paper, Roubini also called crypto "The mother of all scams and bubbles" and blockchain "The most over-hyped technology ever."

Ripple's CEO subtly called out Joseph Lubin on centralizationThe panel dubbed "Where is Blockchain Headed in 2019?" saw both Ripple CEO Brad Garlinghouse and Joseph Lubin, a co-founder of Ethereum and founder of the blockchain company ConsenSys, featured in the expert panel.

Blockchain's potential for the health care industry was highlightedOne of the panels centering on blockchain was dedicated to the health care industry specifically.

Titled "Blockchain in Healthcare Insurance and Beyond," it featured Lata Varghese, the head of blockchain at the U.S. IT corporation Cognizant, and Zia Zaman, the chief of innovations Asia at global insurance provider Metlife, as experts.