Changpeng Zhao, founder and CEO of Binance, launched a new platform that uses blockchain technology to track donations, allowing people to see where their money goes and who benefits. “With better transparency we can achieve 100 times more results,” he said.
“Blockchain is just a tool, like a knife,” Binance CEO Changpeng says at the World Investment Forum 2018 discussion on how the technology can be used for the SDGs. And like a knife, whether blockchain is a force for good or bad depends on how it’s used, he says.
“$130 billion of hidden fees are now the reality for the banking sector and any transaction you do. The potential to reduce that is huge. And blockchain could be one of the solutions“, Eva Kaili a member of European Parliament, says at World Investment Forum 2018.
“2.7 billion people live on less than $2 a day, 60 million are displaced, 1 billion live without an identity. I’m not saying the blockchain will solve all these problems, but it can be one piece of the puzzle,” ConsenSys Executive Director Vanesse Grellet says at World Investment Forum 2018.
“Here’s a bag of coffee. It’s from Colombia. I have to tell you whether the farmers were paid fairly. But with blockchain you don’t have to trust me. You can trust the farmers because they will have verified the information“, Sander de Jong of Fairfood says at World Investment Forum 2018.
“Blockchain is basically a business process engineering tool on steroids,” Louis De Bruin of IBM says at the World Investment Forum 2018 talk on how the technology can help achieve the 17 GlobalGoals. It leads to enormous levels of efficiencies. “And less waste means more sustainability.”
“Very few technologies have more potential for disruption and excitement than blockchain… if your somebody who cares about making the future a little less uneven,” Chris Fabian of UNICEF innovation says.