Sheila Warren: Blockchain Awareness Growing

Speaking at the Hyperledger Global Forum 2020 in Phoenix, Arizona, the World Economic Forum's head of blockchain and data policy, Sheila Warren, discussed blockchain's potential to solve real-world problems.

"In 2018, no one understood what blockchain was. While the technology had some obvious attributes, government leaders still didn't understand its potential. And although people were talking about supply chains as the first business use cases aside from money, a lot of the conversations centered around the idea that we have systems we can put a blockchain on and then catapult those into space."

Fast-forward to 2020 - Warren noted that in just two years, the blockchain space has evolved in many ways, saying: "The best thing to happen in this space was the collapse of the hype. We finally have regulations around initial coin offerings and don't have a rush to get money as funding."

Warren shared her excitement for blockchain applications focused on improving the environment.

To shed light on her points, Warren discussed real-world use cases that apply blockchain technology to create impactful changes in society.

"For this project, we are focused on trust and transparency that the blockchain can provide. We are breaking down what makes a blockchain unique and combining that with government policies."

Warren also briefly mentioned that blockchain technology can be applied to help provide transparency when it comes to tax payments, the Dow Jones Industrial Average and more efficient health care systems.

Why is blockchain still not there yet?Although Warren discusses the potential benefits of blockchain technology in combination with policy, she ended her keynote by explaining that the technology isn't there yet to enable change.

Secondly, Warren explained that blockchain technology lacks a code of conduct.

More public awareness of blockchain technologyWarren finished her keynote by predicting that this year, there we will see a "Tremendous explosion in public awareness of what's happening with institutions, and how they will use blockchain."