Six Blockchain Companies Make WEF 100 Technology Pioneers List
Crypto

Six Blockchain Companies Make WEF 100 Technology Pioneers List

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The ever-growing amount of positive news surrounding blockchain technology testifies to its rising popularity. Six blockchain companies were included on the World Economic Forum (WEF)’s 100 Technology Pioneers for 2020 list. And a survey has found that more than a third of the world’s companies are currently working on blockchain-related projects.

The fifty-year-old Switzerland-based NGO published its 20th list of 100 new Technology Pioneers – or as it describes them, “future headline-makers addressing global issues with cutting-edge technology.”

Among the companies honored this year were six blockchain and crypto startups that were recognized for their innovative technologies, namely:

  • decentralized oracle service Chainlink
  • Bitcoin analytics firms Elliptic
  • the developer of the Lightning Network, Lightning Labs
  • decentralized lending facility and creator of MKR and DAI, MakerDAO
  • cryptocurrency startup Ripio
  • blockchain-based carbon credit and natural capital marketplace Veridium Labs.

Chainlink’s co-founder Sergey Nazarov said in a press release that the company was “thrilled” to be recognized as a Technology Pioneer and was “proud to play a role in bringing accountability and automation to global and local economies.”

Nazarov added that “using smart contracts on the blockchain to bring enforceable guarantees to contractual obligations has widespread social and economic benefits.

The WEF said that “by joining this community, Technology Pioneers begin a two-year journey where they are part of the World Economic Forum’s initiatives, activities and events, bringing their cutting-edge insight and fresh thinking to critical global discussions.”

The WEF also highlighted its past recipients, many of which have become household names, such as Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.

Major crypto company Blockchain.com was included on the same list in 2016, and startup Ripple Labs in 2015.

Meanwhile, a survey conducted by the multinational professional services network Deloitte has founds that blockchain is becoming a focus for companies around the world. Per the survey of 1,488 senior executives and practitioners in 14 countries, conducted from February until March of this year, 39% of the participants stated that they have already incorporated blockchain into production at their companies.

This is a 16% increase on last year. For companies with over USD 100 million in revenue, that same figure stands at 41%.

Almost 89% said they believe that digital assets will be very or somewhat important to their industries in the next three years. And 83% of the respondents said that not adopting blockchain would result in the loss of competitive advantage. Furthermore, 82% responded they intended to hire staff with blockchain expertise within the next year.

Deloitte said,

“Blockchain investment plans are strong with some 36% planning at least USD 5 million in spending over the next 12 months.”

When asked about obstacles preventing greater acceptance of blockchain, 35% cited implementation issues (replacing and adapting existing legacy systems), 34% expressed concerns over potential security threats, followed by the concern over sensitivity of competitive information and lack of regulatory clarity. Only 3% said they don’t see any barriers to blockchain progress.

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Learn more:
57% of Surveyed Japanese Companies Set to Adopt Blockchain Technology
Chinese Central Bank Calls for Yet More Blockchain Adoption

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James Donald
James Donald writes for the Crypto section of Select News 91. He is an economic expert with a special interest in the unregulated currency system. He believes that the future of the planet lies in the unregulated system and that cryptocurrency is only beginning its journey. Whether his prediction is true or not, his skills certainly show his ability to analyze trends and dissect policy decisions. His column talks about the various cryptocurrencies failing and succeeding in a market that is nowhere near saturation.

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