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Davos 2017: The BitFury Group Launches ‘Global Blockchain Business Council’

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by Tatsiana Yablonskaya · 3 min read
Davos 2017: The BitFury Group Launches ‘Global Blockchain Business Council’
Photo: The BitFury Group

The group will provide a forum for cooperation and partnerships in the blockchain sphere and will help businesses to adopt the technology.

The Bitfury Group, the world’s leading full service blockchain technology company and one of the largest private infrastructure providers in the blockchain ecosystem, launched the Global Blockchain Business Council (GBBC) at the World Economic Forum 2017 Annual Meeting in Davos, Switzerland.  The launch was first announced earlier this month.

The Bitfury Group focuses on the development of both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to safely move assets across the blockchain. The large team of experts in technology, business, communications, security and civil society provides easy, fast, secure and cost effective connectivity to the blockchain.

“There is a huge need for a global body dedicated to bringing the Blockchain ecosystem together, educating, advocating for its advancement and connecting relevant parties in the Blockchain and business worlds — the GBBC stands ready to fill that critical role,” said Valery Vavilov, CEO of the Bitfury Group. “Last night, at the GBBC’s inaugural launch event, some of the most strategic thinkers in the Blockchain and business worlds came together to forge partnerships across sectors and understand how this technology can and will change the way we all do business.”

The GBBC will serve as a resource center for the world’s leading businesses encouraging them to study the latest innovations and advances in the blockchain technology and advocate for its global adoption. The Council will provide a forum for information, collaboration and partnerships.

A private dinner was held at the Ameron Swiss Mountain Hotel Davos, during the World Economic Forum’s Annual Meeting, to celebrate the launch of the GBBC.

One of the key participants at the World Economic Forum 2017 is Don Tapscott, a co-author of Blockchain Revolution. The topic of the blockchain technology gets a lot of attention at this year’s meeting. Tapscott remarks that there are a dozen sessions on and off the formal agenda devoted to the blockchain in Davos.

“I’m personally involved in half a dozen of these, including a session where I’m speaking to the heads of central banks and Ministers of Finance. Blockchains are a big deal. The Internet today connects billions of people around the world, and certainly it’s great for communicating and collaborating online”, he says.

“But because it’s built for moving and storing information (and not value) it has done little to change the way we do business. When you send information to someone, like an email, word document, PDF or Powerpoint, you’re really sending a copy not the original. It’s OK (and indeed advantageous) for people to print a copy of their powerpoint file, but not OK to print money.”

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