A mandate for blockchain companies is to rebuild global trust

Trust is the cornerstone of socio-economic success and geopolitical balance. Our current world shows a huge deficit of confidence. Distrust results in socio-economic errors and geopolitical anxiety. Blockchain’s superpower is trust. It’s time to give blockchain companies a mandate to rebuild trust, success and balance across global systems.

Geopolitical agitation, the war in Ukraine and elsewhere, famine, climate crisis, inflation, supply chain problems and financial market turmoil are some of humanity’s many challenges today.

Let’s talk about trust

The world needs and must trust again. Blockchain is a technology built on integrated trust. Where there is trust, there can be progress. Given these tumultuous times, blockchain must not be treated as an alternative, but as an established one – a catalyst technology that enables trust and builds trust.

The recent World Economic Forum theme “Working Together and Restoring Trust” showed that the world has lost confidence in institutions. Global leaders need to quickly embrace blockchain companies’ solutions that are already on the move to solve their deficits in confidence and rebuild a better future. In turn, blockchain companies must rightly demand their mandate as global reformers and trust builders.

The WEF takes place annually in Davos, Switzerland, the country that is home to the world’s most mature blockchain hub – Crypto Valley. At the same time, during the forum, the blockchain business community gathered from all over the world, not within the formal forum walls, but in the adjacent Davos promenade. Here was found exactly what the world needs: security, openness and trust. Blockchain and cryptocurrency companies travel to Davos every year to share their superpower and demonstrate that it is in humanity’s best interest to begin mutual interaction and trust. It’s time for the superpower of blockchain technology to get a mandate.

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The new human mindset seeks trust

According to the Edelman Trust Barometer, the business community has emerged as the most reliable institution in the last three years. The most important advantage of the business community is competence. This ability to get things done has led to increased dependence on businesses to go into where the government has failed. At a time when the world has been challenged, there has never been a greater effort for companies that do not take a stand and engage in economic, social and geopolitical issues.

Mankind is recovering from the aftermath of a global pandemic, enduring many geopolitical terrorists and trying to prevent climate and ecology fails. People trust less and seek meaning and a fairer way of interacting and acting. Structures such as authorities, financial institutions and the media are under distrust and scrutiny. The new human mindset insists on openness and accountability regarding how things are done, controlled and regulated. Entities, whether commercial, social or governmental, must reach out and respond to satisfy the new thinking of the global population.

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Over 1,000 companies that have left the Russian market in the months since the Ukraine invasion are proof of the new value standard humanity has set for its business – and not to forget what the global blockchain community has done to help this particular conflict.

Blockchain companies have a superpower: provide confidence to enable humanity’s new way of thinking to come to fruition.

Blockchain’s superpower is trust

Blockchain companies are competent, built by experienced pioneers, technical wizards and great thinkers. We as a global industry must be proud that we are creating new economies and rebuilding trust by enabling new ways of interacting and acting in a transparent way – required by the new human mindset.

We are creating a transformation through the capacity of technology to build trust, but we must begin to reach out to the centralized world where humanity is still lingering and showing the way forward. More than any other business sector, we have the best tool in the toolbox: a technology that offers new ways of organizing processes, managing information and guaranteeing transparency and trust. Improving trust is blockchain’s superpower and provides the basis for governments, citizens and businesses to trust each other.

Blockchain is no longer an experiment – it’s catalytic technology. Look at what the first round has achieved: a cryptocurrency market and financial inclusion for so many. It changes functions and services, including registration, education, health services, purchasing, supply chains and identity management. It generates not only new digital asset formats, but also new universes and new economies. Blockchain gives confidence.

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Developing sustainable solutions for humanity requires a clear understanding of how blockchain companies are already solving global challenges. Centralized global units at the business level are already working on the blockchain, and institutions will follow suit. As they do so, the leadership of blockchain companies must stand up, lead and be counted. After all, we created the confidence to blockchain.

Africa is an example of a blockchain enabling trust

This is especially evident in the case of Africa. Many citizens of African countries are unable to trust institutions that we take for granted and have no access to the global financial system. Instead, Africa has self-administered a recipe for trust – blockchain technology.

In this context, Africa is a symbol of the new world, a world in which trust is restored. First, the continent has great economic potential, with a young population and an impressive growth potential for gross domestic product. Secondly, the use of new technologies, especially blockchain and crypto, is remarkable. True to the motto “when challenges become opportunities”, Africa consistently solves challenges, creates opportunities and builds a future on the blockchain.

In Africa, blockchain technology gives people the opportunity to trust and participate in a socio-economic system whose fundamentals allow for inclusion, independence and security.

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Blockchain business leaders need to highlight their global trust mandate

As blockchain leaders, we must recognize our superpower and assert our trust mandate that enables a better future. By sharing our capabilities while accepting our responsibilities as a business sector, we have the power to activate the new human mindset whose basic principles are to seek trust and openness and new ways of interacting and acting.

It is crucial that blockchain leaders recognize that humanity has placed its trust in companies to create a firmer future. Blockchain companies are already making the world a better place by creating openness and trust. Let us show the world our mandate of trust.

I invite blockchain business leaders to write to at least one government official and explain how their blockchain expertise is super-affirmative for a better future. In this way, we mark our mandate.

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