World leaders and business leaders are gathering in Davos this week for the annual World Economic Forum (WEF). The elite discuss global problems and solutions in the Swiss ski village.
Climate change starts with you
One of the main themes is climate change, but the criticism is that almost everyone who travels to Davos comes by private plane. Last year, 1,040 private jets flew to the resort for WEF. Not exactly climate friendly.
Modern problems require modern solutions, and you as part of the crypto elite (wink) can probably already guess where this is going.
Metaverse makes private jets obsolete
This year, the World Economic Forum is testing a Metaverse version of Davos. The Global Collaboration Village is built using Microsoft Mesh, a version of the Teams software. The project will involve more than 80 major organizations, including Meta (of Facebook and Instagram) and the International Monetary Fund.
WEF invited companies to create their own virtual spaces and shops to digitize the dialogues.
WEF expects better collaboration through metaverse
The organizers of the elite gathering hope that this will not be limited to just this week. The online Davos metaverse is intended to be visited throughout the year to promote public-private partnerships.
This metaverse describes the goals as follows: global collaboration, interactivity, inclusiveness, and impact.
“With the Global Collaboration Village, we are creating the first public purpose-built application of metaverse technology, building a truly global village in virtual space,” thus Klaus Schwab, founder and executive chairman of the World Economic Forum.
However, Schwab does not see the metaverse as a replacement for the real Davos summit, but rather as an addition.
“The metaverse will influence the way people, governments, businesses and society as a whole think, work, interact and communicate with each other to collectively solve problems on the global agenda.”
“The Global Collaboration Village will be an extension of the World Economic Forum’s public-private platforms and face-to-face meetings and will provide a more open, sustainable and comprehensive process for coming together.”
Crypto present at WEF in Davos
Last year, you couldn’t turn your ass in the ski village, or you came across a booth of a crypto company. Many crypto companies advertised on the boardwalk and even the WEF could not ignore the NFT virus.
How different it is this year. Many large companies have collapsed and the market, despite the recent increases, is still experiencing a long winter. The mood has changed significantly since the collapse of Terra Luna and FTX.
Last year focused on opportunities and investments, this year’s panels focus on a limited number of topics: central bank digital currencies (CBDC), digital identities and tokenized economies.
The official conference started yesterday morning, but the crypto industry already held its own events on Monday.
Companies such as Circle, the Global Blockchain Business Council, Casper Labs, and the Filecoin Foundation hosted panels on a variety of topics. From how to handle FTX to whether CBDCs make sense.
On January 2nd of this year, we wrote that the WEF sees nothing in a crypto ban and calls on countries to allow competition.
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