The events at the World Economic Forum (WEF) in Davos show how the world is adopting blockchain technology. This is not a surprising development, considering that there are many crypto enthusiasts attending this all important event. In practice, WEF was an early adopter of cryptocurrency and has created room for world leaders and business people to get fuller information on digital assets.
WEF does not only aim at spreading information about cryptocurrencies and blockchain technology but also takes initiatives to harness the power of web 3. So far, it has partnered with Microsoft and Accenture to develop a metaverse platform, the Global Collaboration Village.
In order to support this stance, the WEF founder and CEO Klaus Schwab said that the organization is “embarking on an ambitious new journey to harness the potential of the metaverse as a platform for collaborative, inclusive and effective international action.”
Notably, the WEF meeting in Davos has shown the utility of cryptocurrency in the real world. For instance, the WEF attendees demonstrated that people can use cryptocurrency in any economic and social setting. Actually, the delegates used cryptocurrency payments for drinks and food at a farewell party held at Ex Bar in Davos.
Some of the attendees won the cards which have up to 100 Davos coins, pegged at a ratio 1:1 with the Swiss franc. Using a self-hosted wallet developed by Ammer Technologies, the attendees made payments at Trustody terminals.
According to Polygon co-founder, Mihailo Bjelic, Ammer Technologies developed the Davos coins and the payment system using Polygon Technology within just two weeks. This demonstrates that it is very convenient and quick to integrate various crypto payment systems.
Another positive development in Davos is that there were several platforms for discussing crypto-related topics at WEF. For example, there were many discussions on the need to use digital assets for global remittances. At the same time, an executive at PayPal promised that the company will soon increase its crypto services.