World Economic Forum Selects Elastos Foundation for Global Innovators Community

SINGAPORE / ACCESSWIRE / November 19, 2020 / The Elastos Foundation, a non-profit organization building a blockchain-powered, decentralized internet for the modern era, has been selected to become part of the World Economic Forum's (WEF) Global Innovators Community.

The Global Innovators Community is a highly selective group of the world's most promising ventures who stand at the forefront of technological and business model innovation. The community is carefully curated to gather a range of cutting-edge technologies and pioneering business models that lend themselves to one or more of the critical 18 Platforms laid out by the World Economic Forum. Elastos joins other elite projects like ConsenSys and Hedera as Global Innovators representing the blockchain industry.

The Elastos Foundation will initially join 2 WEF Platforms: "Shaping the Future of Technology Governance: Blockchain and Digital Assets," and "Shaping the Future of Technology Governance: Data Policy."

The WEF's platform for "Shaping the Future of Technology Governance: Blockchain and Digital Assets" aims to realize equity, interoperability, transparency, and trust in the governance of distributed ledger technologies, and to establish the proper conditions to accelerate technological development. On this Platform, the Elastos Foundation joins elite commercial partners Accenture, Deloitte, Microsoft, Visa, as well as IBM. The Elastos Foundation also has plans to join a working group on Digital Identity that begins in Q1 of 2021, where Global Technical Lead Donald Bullers will manage a team on behalf of Elastos.

The second Platform, "Shaping the Future of Technology Governance: Data Policy," aims to co-design, pilot, and scale forward-looking, interoperable, and trustworthy data policies to fuel innovation and ensure responsible data aggregation and usage for the Fourth Industrial Revolution. Elastos Founder Rong Chen will represent the project on the Data Policy Platform, bringing with him deep expertise from over 35 years of experience in data policy and operating systems, including a notable decade-long stint at Microsoft Research in the 1990s. Mr. Chen will also join at least one of the working groups on the Data Policy Platform, taking a seat at the table with high-profile partners including Facebook, Salesforce, and Mastercard.

Rong Chen, Elastos Founder

Rong Chen commended the partnership, announcing, "I am thrilled for the Elastos Foundation and for our global community to join the World Economic Forum's Global Innovators Community. Elastos and the WEF share the common purpose of creating an equitable and ethical future for data. As data ethics have been at the heart of my life's work, it is a pleasure to bring my perspective to an elite group of organizations and governments, which I hope will benefit from the innovative approach to internet architecture that we have at Elastos."

"Our world is on the cusp of a monumental shift in data policy and the administration of digital identities. This mutual collaboration between Elastos and the World Economic Forum comes at an opportune moment where we will be at the forefront of empowering users, and I am proud to lead our team on this joint mission," added Donnie Bullers, Elastos Global Technical Lead.

"We are delighted to welcome Elastos to our Global Innovators Community," says Sheila Warren, Head of Blockchain, Digital Assets and Data Policy at the World Economic Forum. "The team's focus on allowing developers to create applications that protect user privacy and ownership rights by making data secure, identifiable and scarce will provide valuable insight across our Data Policy and Blockchain platforms."

Education, regulation, and application make up the high-priority areas of the WEF's blockchain platform, which has Affiliate Centers in South Africa, Colombia, the UAE and Saudi Arabia. By testing cutting-edge projects and developing future-oriented frameworks, the Forum plans to enable stakeholders in government, the private sector, civil society, and academia to arrive at a collective understanding of the digital asset landscape.

The Forum's blockchain platform has achieved several milestones to date, including the creation of an open-source blockchain deployment toolkit co-designed by over 100 influential supply chain players. The Platform also launched a Digital Currency Governance Consortium to co-design governance frameworks for digital currencies.

Data is the fuel for the Fourth Industrial Revolution; as governments, corporations, and society at large struggle for control of the world's data, the Data Policy Platform's mission aligns perfectly with the principled ethos of Elastos.

About Elastos Foundation

Founded in 2017, the Elastos Foundation is building the blockchain industry's most comprehensive and interoperable open source platform. Using a hybrid consensus that combines the secure hashpower of Bitcoin and the democratic ideals of Delegated-Proof-of-Stake, the SmartWeb ecosystem of Elastos comprises a suite of software for an entirely decentralized internet. Elastos employs not only blockchain technology, but a peer-to-peer network for communication, decentralized data storage services, and a decentralized ID (DID) system for all digital assets. With sidechains like the Ethereum Sidechain, Elastos is not merely the foundation for securing truly decentralized applications that can scale; it is the foundation for true data ownership.

For more information, please visit: Elastos.info

About World Economic Forum

Established in 1971, the World Economic Forum (WEF) is an International Organization for Public-Private Cooperation. Responsible for shaping global, regional, and industry agendas, the Forum is headquartered in Geneva, Switzerland.

About The Global Innovators Community

The Global Innovators Community is a group of the world's most promising start-ups and scale-ups that are at the forefront of technological and business model innovation. The World Economic Forum provides the Global Innovators Community with a platform to engage with public- and private-sector leaders and to contribute new solutions to overcome current crises and build future resiliency.

Companies that are invited to become Global Innovators will engage with one or more of the Forum's Platforms to contribute to defining the global agenda on key issues. If you are interested in becoming a Global Innovator, introduce yourself and your company or organization at the link below:

CONTACT:

Global Innovators Community
Elastos Foundation Contact:
Zach Warsavage
Public Relations Director
zachw@elastos.org

SOURCE: Elastos Foundation

ReleaseID: 617558