Head of Blockchain and Distributed Ledger Technology at the World Economic Forum (WEF), Sheila Warren, guarantees that blockchain could be an answer for the declining trust emergency all around.Warren made her comments throughout an interview with Top Market Group on May 31.

During the interview, Warren asserted that open trust towards governments, banks, media and establishments, in particular in the U.S., is "quickly disintegrating."She then noted that she thinks that blockchain if used properly, will be an answer to the present problem:

“This technology could offer access to info that would change third parties or alternative teams to truly are available and conduct audits of what's happening. and that I really suppose that would build faith back in establishments.”

Warren at that point kept clarifying that she trusts the usage of such auditable frameworks would be arduous yet having the option to demonstrate the decency of open procedures and the realness of different media would bring tremendous advantages.She additionally said that — if not solved — the trust crisis she documented can have way reaching consequences:

“In my opinion that [erosion of public trust] is one amongst the most important crises we face. because you’re going to quickly move towards anarchy which could be a deep, deep problem.”

Warren, in addition, admitted that had owned some bitcoin (BTC) “almost as a joke,” but she did not build the association between bitcoin and blockchain for quite it slow and it wasn’t till later that he learned concerning blockchain. She noted:

“It took concerning another 3 years from after we 1st bought bitcoin on behalf of me to know what blockchain was.”

Warren additionally detected that the six councils recently fashioned by the WEF, dedicated to the fourth age — that are dedicated to blockchain technology — are also meant to be a sure place for world leaders to experiment and share their challenges, issues and success stories involving technology.

At the start of the current month, news broke that the WEF has teamed up with over 100 global supply chain and supply leaders to standardize blockchain apps within the business.

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