Colombia, Deloitte, ConsenSys Sign On to WEF's 'Blockchain Bill of Rights'

The cryptocurrency industry just gained an organized structure for collaborating with world leaders, thanks to the World Economic Forum.

May 22, 2020 at 12:00 p.m. UTC
Updated Sep 14, 2021 at 8:44 a.m. UTC

The token economy just gained an organized structure for collaborating with world leaders. 

The World Economic Forum revealed its Presidio Principles on Friday, a “blockchain bill of rights,” according to the nonprofit focused on fostering diplomacy and international business partnerships. The document includes signatories from the Government of Colombia, Deloitte Consulting LLP, ConsenSys, Electric Coin Company, CoinShares and the United Nations’ World Food Program, just to name a few. 

“We supported the creation of the Presidio Principles – as well as guidelines and design principles for public institutions – because we wanted to ensure that progress can continue rapidly and responsibly, ensuring that basic characteristics like security and data privacy are secured for our citizens,” Victor Munoz, Colombia’s presidential advisor on economic affairs and digital transformation, said in a press statement. 

The principles include a user’s right to “manage consent of data stored in third-party systems, port data between interoperable systems” and “revoke consent for future data collection.”

Ethereum co-founder Joe Lubin encouraged crypto startups to become signatories and join the WEF’s open dialogue. In a press statement, he said he hopes “all builders of Ethereum-based projects – and across the blockchain landscape – will sign on to demonstrate their commitment to the users of their systems and applications.”

Indeed, Aya Miyaguchi of the Ethereum Foundation was involved. Greg Medcraft of the Organisation for Economic Co-operation and Development (OECD) and Delia Ferreira Rubio of Transparency International also contributed to the project.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Coinbase Enters Fortune 500 List of Biggest US Companies

The first crypto company to join the list recorded revenue of over $7.8 billion in fiscal 2021 and placed 437th.

The first crypto company to join the list recorded revenue of over $7.8 billion in fiscal 2021 and placed 437th.

CoinDesk - Unknown
2
CoinDesk - Unknown
Climate Company Flowcarbon Raises $70M Through A16z-Led Round, Sale of Carbon-Backed Token

Flowcarbon aims to drive investment in projects that remove carbon from the atmosphere by creating a protocol that tokenizes carbon credits.

Flowcarbon aims to drive investment in projects that remove carbon from the atmosphere by creating a protocol that tokenizes carbon credits.

CoinDesk - Unknown
3
CoinDesk - Unknown
ECB Warns That Crypto Risks Could Spill Over Into Wider Economy

Given the increasing risks of crypto, it is important to bring it into the regulatory perimeter as a matter of urgency, the European Central Bank said in a report.

Given the increasing risks of crypto, it is important to bring it into the regulatory perimeter as a matter of urgency, the European Central Bank said in a report.

CoinDesk - Unknown
4
CoinDesk - Unknown
Social-Media Disruptor Project Liberty to Run on Polkadot’s Blockchain Network

The partnership follows on from former LA Dodgers owner Frank McCourt earmarking $100 million last year to disrupt incumbent-dominated social media.

The partnership follows on from former LA Dodgers owner Frank McCourt earmarking $100 million last year to disrupt incumbent-dominated social media.

CoinDesk - Unknown