{"id":677,"date":"2018-04-21T12:13:27","date_gmt":"2018-04-21T12:13:27","guid":{"rendered":"https:\/\/blockchain-society.science\/?p=677"},"modified":"2018-04-21T12:13:27","modified_gmt":"2018-04-21T12:13:27","slug":"blockchain-is-facing-a-backlash-can-it-survive-world-economic-forum","status":"publish","type":"post","link":"https:\/\/blockchain-society.science\/?p=677","title":{"rendered":"Blockchain is facing a backlash. Can it survive? | World Economic Forum"},"content":{"rendered":"<blockquote><p><section class=\"blockchain_content_insert\"><div class=\"blockchain_content_insert_background\"><img src=\"https:\/\/blockchain-society.science\/wp-content\/uploads\/litho\/d2580dc544eecd802d45e11e7871b5976ba967b7f66bb9af98d0129a5c2cb8e7.png\" \/><div class=\"blockchain_content_insert_call_to_action\"><span>Watch video<\/span><\/div><\/div><div class=\"blockchain_content_insert_content\"><section data-action=\"close\">Close<\/section><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/T64rdJXAZt8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div><\/section><\/p>\n<p>Despite these advances, there has been a growing backlash from opinion leaders as the technology\u2019s drawbacks become better known. Perhaps you\u2019ve heard that Bitcoin alone uses 0.25% of the world\u2019s electricity? Other blockchain systems, such as Ethereum, use similar approaches that require computers to burn electricity unnecessarily. Perhaps you are concerned about the number of accidents, hacks and scams possible in this new space, where the law has not yet found its feet? Or you may have heard that crime and terror networks could use these technologies to transfer funds. Blockchains and digital currencies pose important questions to both their advocates and regulators.Pioneers in the industry are alert to such concerns and have attempted collective self-regulation. The Brooklyn Project, an industry-wide initiative to support investor and consumer protection, was launched in November 2017.\u201cBy acting responsibly today, we can help make sure we are collectively able to reap the benefits of this powerful technology tomorrow,\u201d explained co-founder of Ethereum Joseph Lubin. The following month, a coalition of cryptocurrency organizations and investors representing $650m in market capitalization established Project Transparency. It seeks to protect investors by enabling more disclosure within the digital currency sector.<\/p><\/blockquote>\n<p>Source: <em><a href=\"https:\/\/www.weforum.org\/agenda\/2018\/04\/blockchain-survive-backlash-social-purpose-jem-bendall\/\">Blockchain is facing a backlash. Can it survive? | World Economic Forum<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite these advances, there has been a growing backlash from opinion leaders as the technology\u2019s drawbacks become better known. Perhaps you\u2019ve heard that Bitcoin alone uses 0.25% of the world\u2019s electricity? Other blockchain systems, such as Ethereum, use similar approaches that require computers to burn electricity unnecessarily. Perhaps you are concerned about the number of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[8,39,43,13],"tags":[],"_links":{"self":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/677"}],"collection":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=677"}],"version-history":[{"count":1,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/677\/revisions"}],"predecessor-version":[{"id":679,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/677\/revisions\/679"}],"wp:attachment":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}