Focus on Davos: Global Blockchain Business Council (GBBC) was established, with heavyweight members from many countries participating

The four-day 2017 Davos Forum is coming to an end. The Chinese President attended the forum for the first time and delivered a keynote speech. President Xi Jinping pointed out that pan-globalization is not the root cause of the world's problems today. Adhering to innovation-driven development and creating a dynamic growth model is the key to alleviating global problems. The world expects a fair, equitable and reasonable governance model.

The focus of this forum is on Internet finance and the industrial revolution. Klaus Schwab, founder of the World Economic Forum (Davos Forum), said that since the invention of steam engines, electricity and computers, we have ushered in the fourth industrial revolution - the digital revolution, and blockchain technology is the result of the fourth industrial revolution! "Blockchain" has become the hottest topic at the Davos World Economic Forum.

On January 17, 2016, 150 representatives from governments and enterprises from 25 countries, including Chinese representatives, gathered at the Davos Forum. Jamie Elizabeth Smith, former press spokesperson and special assistant to US President Obama, announced the official establishment of the Global Blockchain Business Council (GBBC), with the participation of heavyweight members from many countries (the list of representatives from the initiating countries is attached). The conference issued the Davos Blockchain Declaration.

The Chinese delegation, which consisted of more than 10 industry experts including Wang Wei, Founding President of China Mergers and Acquisitions Association, Ge Ming, Chief Supervisor, Deng Di, Head of China Blockchain Group and Chairman of Taiyi Cloud, Peng Yaojie, CEO of Credit China, and Guo Yuhang, CEO of Dianrong.com, participated in and witnessed this important moment. Wang Wei, Founding President of China Mergers and Acquisitions Association, and Wang Yongli, Vice Chairman of the Blockchain Technology and Application Development Forum of the Ministry of Industry and Information Technology of China, were selected as the board members representing China. China's active participation will help strengthen China's international voice in this emerging field and promote international cooperation and exchanges.

China Blockchain Delegation

From left to right: Wang Gang, Chairman of Hongzhang Capital, Ren Kai, CEO of Tongdao Capital, Wang Wei, Founding President of China Mergers and Acquisitions Association,
Deng Di, Chairman of Taiyi Cloud, Peng Yaojie, CEO of Credit China, and Guo Yuhang, CEO of Dianrong.com

Dr. Wang Wei received the "Global Blockchain Council Pioneering Award" from the organizer for his outstanding contribution in initiating GBBC. Wang Wei later gave a speech: "I would like to thank the conference for its recognition and attention to the Chinese blockchain industry. I look forward to China's opportunity to participate in the formulation of standards for the development of the global blockchain industry, actively respond to President Xi Jinping's call for building a secure and trusted global economic system this morning, and make unique contributions to the blockchain industry." He invited the members of the Chinese blockchain delegation present to come on stage to receive the award. Chinese television reported the inauguration ceremony.

Wang Wei attended the forum of the Global Blockchain Business Council on the afternoon of the 17th, and discussed with the former President of Estonia, the former Prime Minister of Sweden, and the author of the global bestsellers "Blockchain Revolution" and "Wikinomics" how blockchain will change the future. The forum was hosted by the former special assistant to President Obama. Members of the Chinese blockchain delegation had a lively exchange with representatives from various countries.

On January 18, at the blockchain forum "Blockchain and Value Internet" organized by the American Mergers and Acquisitions Association, political, business and academic leaders including WISeKey founder Carlos Creus Moreira and Harvard University CNRS regulatory researcher Primavera De Filippi participated. Wang Wei introduced the development status of China's blockchain. The "Internet Finance Museum" established in Beijing, China for more than a year received strong attention from the participants. The participants were more concerned about the Chinese government's recent attitude towards Bitcoin and blockchain. In this regard, President Wang Wei said: "The Chinese government's strengthening of supervision on Bitcoin has a specific background and is necessary, but the Chinese government is currently actively encouraging the research and innovation of blockchain technology. The application of China's blockchain technology has far exceeded the scope of Bitcoin and has been promoted to various fields, and a number of excellent blockchain technology companies have emerged. In the future, GBBC will build a platform for communication and cooperation for international and domestic blockchain companies."

Don Tapscott, author of the global bestseller "Blockchain Revolution", conveyed his thoughts and shared his understanding of the value of blockchain. He said that at present, at least 2 billion people do not have bank accounts. Through blockchain technology, wealth can be pre-distributed and they can be directly introduced into the new economy. He believes that blockchain will play a big role in land rights confirmation and copyright protection of digital content, which will help to realize a true sharing economy. In the future, blockchain and smart contracts will replace paper contracts, and blockchain technology will also help to achieve more transparent and effective government management. At the same time, he also mentioned the need to strengthen the protection of personal data privacy and property rights. Speaking of applications, he was proud to say that his book has been embedded in the blockchain.

Experts at the meeting held a heated discussion

On the same afternoon, the Global Blockchain Business Council (GBBC) held a working meeting at the Davos Summit Restaurant. It determined various activities in 2017, including the establishment of five regional centers in China, the United States, Europe, the Middle East and Brazil, the organization of global blockchain certification training, blockchain innovation challenge, global blockchain summit and the designation of blockchain self-regulatory rules. Wang Wei from China and Peng Yaojie from the Hong Kong Special Administrative Region were elected as members of the executive committee composed of seven directors. The director from the United States served as the first chairman, and Mr. De Soto, a world-renowned property rights expert from Peru, served as the chief economist. The meeting entrusted Xu Mingxing, the first chairman of the China Blockchain Application Research Center, to carry out the preparations for the China Center.

During the forum, Wang Wei and Deng Di were interviewed by CCTV, Xinhuanet and other media in Davos. Mr. Deng Di introduced the development of China's blockchain industry. He said that China has become a leader in the development of blockchain, and the application of various industries is entering practice.

Mr. Deng Di, Chairman of Taiyi Cloud, was interviewed by CCTV

The establishment of the Global Blockchain Council (GBBC) has been highly recognized by industry insiders. Xu Mingxing, the first chairman of the China Blockchain Application Research Center, said: "China's participation in the launch of the GBBC means that China's blockchain industry has been recognized internationally. In the future, the development of China's blockchain industry will definitely be more standardized and healthy."

Since its establishment, the Global Blockchain Council (GBBC) has received widespread attention and strong social response. Many media outlets have reported on it, and it has also been listed as the most popular by the well-known American media Econotimes. Obviously, no matter how the outside world has criticized blockchain technology, its value is now unquestionable and is about to usher in a new era.

Appendix: List of representatives of initiating countries
1. Gabriel Abed, Founder and CEO of Bitt Group, Barbados
2. Aivaras Abromavicius, former Minister of Economy of Ukraine
3. Michael Casey, Senior Digital Currency Advisor at MIT, Australia
4. Mariana Dahan, Office of the President of the World Bank, France
5. Gleb Davidyuk, Managing Partner of ITech Capital, Russia
6. Brian Forde, Director of MIT Digital Forum
7. Paula Drumond Guedes, Founder and CEO of Brazil’s ATLZ Group
8. Toomas Hendrik Ilves, former President of Estonia
9. George Kikvadze, Vice Chairman of BitFury Group, Georgia
10. Raman Kumar, Chairman of Aeries Group, India
11. Laurent Lamont, former Prime Minister of Haiti
12. Vinny Lingham, Founder and CEO, Civic, South Africa
13. Daniel Masters, Founding Director of GABI Fund, UK
14. Sheikh Zayed Al Nahyan, head of the Nahyan Family Group in the United Arab Emirates
15. Peng Yaojie, CEO of Hong Kong China Credit Holdings Limited
16. Elizabeth Rosiello, Founder & CEO, BitPesa, Nigeria
17. Santiago Siri, founder of the Democracy Earth Foundation (DEF) in Argentina
18. Jamie Elizabeth Smith, CCO and Marketing Officer of BitFury Group, USA
19. Hernando De Soto, President of the Peruvian Institute for Freedom and Democracy
20. Ali Abbas Syed, founding partner of Gemini Investment Group, Pakistan
21. Bill Tai, co-founder of Mai Tai Global, USA
22. Alex Tapscott, founder and CEO of Northwest Passage, Canada
23. Jonathan Teo, Managing Partner, Binary Capital, Singapore
24. Dr. Tomicah Tillemann, Director of Bretton Woods Initiative, New America Foundation
25. Valery Vavilov, Founder and CEO of BitFury Group, Latvia
26. Sebastian Vos, partner of Covington & Burling, Netherlands
27. Wang Wei, Founding President of China Mergers and Acquisitions Association
28. Wang Yongli, Vice Chairman of the Blockchain Technology and Application Development Forum of the Ministry of Industry and Information Technology of China
29. Muhamed Yesilhark, Founder and CEO of Q2Q Capital Group, Türkiye