The first day of the Ethereal summit showed that the race to run blockchain innovation is not personal but global. Governments across the globe are preparing themselves for the revolution of blockchain. Some of them are already getting prepared, warming up for a fight against fraudulent activities, while others are taking optimistic tactics and preparing a welcoming environment for the blockchain innovation.
The Founder of Wyoming Blockchain Coalition Was Featured in One of the Panels
One of the panels in the morning session featured the founder of Wyoming Blockchain Coalition – Caitlin Long. Long spent much of her career on Wall Street. The economic crisis in 2008 made her research the potentials of a decentralized financial system, and she discovered bitcoin.
The Wake-Up Call to Blockchain Technology
Recently, Long pioneered five blockchain bills passage in Wyoming, making Wyoming of the most “digital currency friendly” states in the United States. The managing director of Consensys – Rahilla Zafar, moderated a panel on the venture of Saudi Arabia into the world of blockchain, and how the nation is evolving from an oil-based economy to an economy based on innovation and technology.
Vision 2030, which is referred to as “one of the world’s most aggressive plans” by Zafar, is the effort of the nation to diversify its economy; it seems that the crash of the single commodity driven economy of Venezuela is what inspired this movement. A nation that is not well-known for being socially or technologically progressive is preparing to outperform Dubai in the race for the adoption of blockchain technology.
The Premier of Bermuda – E. David Burt said: “for you to be successful in innovation, you need to ensure you are not too rigid when it comes to regulations.” The background of Burt in technology and finance, combined with the nimbleness and small size of his island’s government, has enabled him to create a welcoming environment for blockchain innovation in Bermuda.