The Swiss-based non-profit blockchain business affiliation, the Global Blockchain Business Council (GBBC), believes that the crises succeeding from the coronavirus pandemic have highlighted the advantages of divided ledger know-how (DLT).
In e-mail correspondence with Cointelegraph, a advisor of the GBBC declared that DLT can modernize and handle the inefficiencies of the programs that corroborate the group of up up to now societies.
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Coronavirus highlights DLT use-cases
"The current pandemic is highlight many of the inefficiencies and shortcomings of existing systems," the voice mentioned, accenting the failures of many governments in each "preparing and responding to crises."
"While many of these inefficiencies existed long before the current crisis, the scope of the current pandemic has made addressing these challenges a priority in many countries."
GBBC to interact lawmakers
With this in thoughts, the GBBC is working to stir up dialogue amongst key policymakers and enterprise leadership on how DLT can "address certain inefficiencies, and in some cases in essence shift frameworks and systems in hopes of creating more secure, equitable, and functional societies."
"We believe blockchain technology is not only the next multi-trillion dollar industry, but also a core technology in the next wave of innovation crosswise industries globally."
The GBBC will dedicate important sources to partaking lawmakers over the approaching years.
GBBC launches DLT requirements initiative
Over the shorter time period, the GBBC is partnering with non-profit commercial enterprise suppose tank Milken Institute and blockchain consulting agency Accenture on an initiative to develop world requirements for the DLT sector.
The challenge's major targets are to "map current digital plus and crypto plus standards to better evaluate where we are as an industry, and identify key gaps, inconsistencies, and conflicts."
"By characteristic and consolidating the patchwork of efforts crosswise legal/regulatory, technical, and industry consortia realms, we are setting resolute chart a path forward towards greater adoption and understanding under a common set of goals for the industry."
Last week, the GBBC welcomed digital reality-powered social media platform Sensorium to the council.
As a GBBC member, Sensorium will participate in a variety of GBBC actions engaged toward "advancing adoption of blockchain technology and educating regulators, policymakers, and business leadership on the benefits of the technology."
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