Cryptocurrency

WEF blockchain

Six blockchain companies made the World Economic Forum's annual list of 100 Technology Pioneers. The WEF designates a hundred firms each year. This cohort includes Chainlink, Elliptic, Lightning Labs

By James Gray··2 min read
WEF blockchain

Key Points

  • Six blockchain companies made the World Economic Forum's annual list of 100 Technology Pioneers.
  • The WEF designates a hundred firms each year.
  • This cohort includes Chainlink, Elliptic, Lightning Labs

Six blockchain companies made the World Economic Forum's annual list of 100 Technology Pioneers.

The WEF designates a hundred firms each year. This cohort includes Chainlink, Elliptic, Lightning Labs, MakerDAO, Ripio, and Veridium Labs.

Chainlink works on what's known as the oracle problem. Smart contracts enforce agreements without tampering, but they need real-world data to trigger execution. Chainlink builds the connectors between on-chain logic and external information.

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Elliptic spots fraudulent activity in cryptocurrency networks. It flags transactions tied to crime. The company has been developing this technology since 2013.

Lightning Labs created a faster payment layer for Bitcoin. Their system lets people and businesses send Bitcoin quicker than networks like Bitpay or Coinbase. The Lightning Network is scalable, enabling other startups to build on top of it.

Ripio provides financial services to people without bank access. The company operates a peer-to-peer credit network built on Ethereum smart contracts. The platform connects borrowers and lenders in Argentina, Brazil, Spain, and Mexico.

Veridium Labs applies blockchain to environmental assets. The company tokenizes carbon offsets to make them tradable on blockchains.

Governments are beginning to recognize blockchain's potential. Chinese President Xi Jinping declared it a strategic priority in 2018, and Beijing has backed that with funding for startups and development initiatives. China's model has boundaries. The government won't allow cryptocurrencies or decentralized assets it can't control. Restricting what developers can build may damage China's long-term position in the space.

Late June brought news from Switzerland: the country would not tax blockchain or cryptocurrency income. That decision created an inviting environment for startups seeking favorable regulation.

MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.

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