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Blockchain Gets the Center Stage at World Investment Forum 2018 by UN Development Project

October 25, 2018 11:39
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This is yet another milestone in the journey of blockchain and crypto adoption. The technology just got the honor of being on the biggest global platform that anything can receive: the center stage of a United Nations event! The event was World Investment Forum, which is organized every year by UN Conference on Trade and Development (UNCTAD), and the subject of this year’s event was Blockchains for Sustainable Development”. What an honor for the entire crypto and blockchain community, isn’t it?

The attendees of the event included Binance CEO Changpeng Zhao, TRON Founder Justin Sun, European Parliament member Eva Kaili, Bancor co-founder Galia Benartzi and UNICEF Ventures Lead Chris Fabian. All these folks were keynote speakers at the event, and a number of interesting things were said by them which we’re going to present before you one by one.

The new platform of Binance for charitable donations

Binance CEO Changpeng Zhao said at WIF 2018 that blockchain can help the charity and sustainable development goals (SDGs) a lot by increasing transparency. He said:

“For the 17 #SDGs, there is one underlying problem we’re trying to solve: transparency. Blockchain has many benefits but ‘transparency’ is the one word I want people to remember today. With increased transparency, charity will improve 100 times: 100x more efficient, 100x more donations and 100x more impact!”

He also announced the launch of a new blockchain-based donation platform that will help increase transparency in charity. The platform will allow people to actually keep track of their donations and see where their money is going. Initially the platform will support only BTC, BNB and ETH cryptocurrencies, but more may be added later.

TRON Foundation’s Generous Donation to BCF

TRON Founder Justin Sun was also present at the event. He announced a generous donation of $3 million to the Blockchain Charity Foundation of Binance stating that they “want to donate money for good cause”. He added:

”All of us here have made the decision to be leaders in shaping blockchain technology for social good. Binance Charity Foundation is taking substantial steps in that direction by increasing the transparency of donations so we can see where the goodwill of the donors is going and what impact it has.”

Blockchain can eliminate the hidden fee from banking

Ms. Eva Kaili, a member of European Parliament was also present at the event. She highlighted the hidden fee of the banking system as a major problem and said that blockchain may be the solution to eliminate them:

“$130 billion of hidden fees are now the reality for the banking sector and any transaction you do. The potential to reduce that is huge. And #blockchain could be one of the solutions.”

BTW, doesn’t this explain why RBI might’ve been irked with blockchain and cryptocurrencies, eh?

Conclusion

So this was the majority of action that took place at World Investment Forum 2018. It’s great to see that blockchain has come to a point at which it was considered important enough by the UN to be made the subject of one of its annual events. Let’s see what other milestones are achieved next by this powerful technology.

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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