While the crypto market, every now and then, keeps glorifying or vilifying blockchain network as well as the crypto market, its finally time to note some serious comments on this technology that actually showcase its true potential.
On 31st of May 2019, during an interview with Cointelegraph, Sheila Warren, the Head of Blockchain and Distributed Ledger Technology at the World Economic Forum (WEF) quite boldly claimed that this technology called blockchain can actually be a solution to the debilitating trust crisis globally.
While speaking further on this issue, Warren mentioned that the public trust on government, banks as well as media are rapidly eroding. Moreover, she firmly believes that the technology of Blockchain, if used efficiently can solve this trust issue.
“This technology could provide access to information that could enable third parties or other groups to actually come in and conduct audits of what is happening. And I actually think that could build faith back in institutions.”
It will not only resolve the trust issue but its correct implementation can actually be able to showcase the fairness of public processes as well as the transparency and authenticity of media can prove to be really beneficial.
Focusing on these issues, she further stated:
“In my opinion that [erosion of public trust] is one of the biggest crises we face. Because you’re going to rapidly move towards anarchy and that is a deep, deep problem.”