Pursuing Collaborative Blockchain Solutions to the World’s Most Pressing Challenges

The Global Blockchain Business Council (GBBC) was created to educate and advocate for the adoption of blockchain technology to improve every aspect of the global economy and society. Founded during the 2017 World Economic Forum in Davos, Switzerland, the organization’s membership already spans more than 30 countries, including Afghanistan, Australia, China, Denmark, Germany, Jamaica, Mongolia, the United Kingdom, the United States, Switzerland, Tunisia, and many others. The GBBC works with business leaders, technology innovators, and regulatory officials to promote effective and equitable adoption of blockchain technology.

The organization’s leadership believes that blockchain technology is a viable solution to meet many of the world’s challenges. In the company’s 2018 annual report, GBBC Chairman Tomicah Tillemann states his bold expectation that blockchain technology “will help societies leapfrog legacy systems that are failing to deliver results for people and the planet” (Blockchain Solutions: The GBBC 2018 Annual Report, https://www.gbbcouncil.org/annual-report-2018, 3). He gives the example of how the advent of cell phones allowed some countries to skip the installation of copper wires altogether, and he sees blockchain technology as providing the same type of exponential leap.

The Annual Report goes on to discuss the state of ICO and cryptocurrency regulations throughout the world, along with regulatory insights and recommendations. The report also details specific challenges that blockchain technology is addressing, along with concrete steps being taken to apply blockchain technology. These solutions are being developed in areas as diverse as smart contracts, digital identity, property rights, ICOs, global payments systems, and energy and sustainability.

The GBBC recognizes the potential for blockchain technology to transform the global economy and society. Where the internet revolutionized business, blockchain technology has the potential to digitize assets at every level around the world. Recognizing that business leadership will play a key role in the development of blockchain technology and its specific applications, the GBBC desires to cultivate an active global dialogue along with a forum for collaboration. Member organizations represent banking and finance, technology, education, law, and governance.

GBBC leadership includes Chairman Tomicah Tillemann, who is also the director at Blockchain Trust Accelerator and an advisor to the BitFury Group; Sandra Ro, CEO of GBBC and the executive director of digitization at CME Group; Hernando De Soto, Chief Economist of GBBC, a well-known global economist and president of the ILD, a prominent think tank headquartered in Lima, Peru; along with many other global leaders in technology, sustainability, strategic planning, and governance. Each of these leaders has stepped into the GBBC network to promote global trust, transparency, and technological cooperation and collaboration toward solving our global society’s most pressing issues.

The GBBC sponsors global events to further the dialogue and development of blockchain solutions. This past year since the organization’s inception has seen GBBC chapter launch events in China and Washington, D.C., a Berkshire Hathaway shareholder event, a European Parliament discussion of the potential impact of blockchain technology on the global economy, and a Blockchain Central event during the 2018 World Economic Forum, just one year after the GBBC was formed. The advances made within the global blockchain ecosystem during the past year have been significant. The GBBC anticipates an even greater future impact, centered on blockchain’s potential to provide the safe and transparent peer-to-peer exchange of assets worldwide, along with a renewed confidence, based on transparency and accountability, in the institutions that impact the global economy and society.

By Janet Eriksson, BIG Writer