Bitcoin is getting bashed at Davos but the crypto world is fighting back

Bitcoin is getting bashed at Davos but the crypto world is fighting back – Bitcoin was hammered by top business leaders at the World Economic Forum in Davos, but those in the cryptocurrency world had a message of their own. Cryptocurrencies were one of the biggest topics at the Forum. 
There was an official session on it, CNBC ran a few panels about the subject in The Sanctuary, and there was even a dedicated spaced called Crypto HQ, which focuses on blockchain technology. While the potential of blockchain, the underlying technology behind cryptocurrencies, was praised, bitcoin got slammed. 
Bitcoin is getting bashed at Davos but the crypto world is fighting back
“There is no intrinsic value for something like bitcoin so it’s not really an asset one can analyze. It’s just essentially speculative or gambling,” Stephen Poloz, the governor of the Bank of Canada, told CNBC Thursday. 
Nobel Prize-winning economist Robert Shiller told CNBC ahead of Davos that it may be around for 100 years, though it’s more likely to collapse. “(Bitcoin) might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years,” Shiller told CNBC. 
Bitcoin’s reputation as a currency that is primarily used for illicit activities still lingered too. 
“The fact that the anonymity, the lack of transparency and the way in which it conceals and protects money laundering and financing of terrorism and all sorts of dark trades is just not acceptable,” 
Christine Lagarde, managing director of the International Monetary Fund, said during a panel talk in Davos earlier this week. 
Bitcoin saw a massive price rise last year but has had a tough start to the year. The price of the cryptocurrency is down over 21 percent since January 1. Cryptocurrencies are extremely volatile and many have called the space a bubble. 
But in Davos, there were a large number of leaders in the crypto space attending the Forum. They were bullish on the potential of the technology and countered the views of Poloz and Shiller. 
“We are still not in the kind of dotcom bubble territory in terms of the overall market capitalization,” Richard Muirhead, general partner at Fabric Ventures, told CNBC during a session at The Sanctuary on Thursday. His sentiment was echoed by Nic Cary, co-founder of cryptocurrency wallet Blockchain. “You have to look at the fundamentals,” he said. 
“To us, we are seeing increases in transaction volume and to me that’s one of the first indicators that more people are using this in their daily lives and that’s really interesting to me.” Cryptocurrency is a truly divisive topic and discussions in Davos have further brought it on to the world stage.
Source: CNBC


  1. Yodse ecosystem overview

    Yodse's main purposes.

    The platform yodse aims to become the largest Internet ecosystem for the most convenient, rapid and profitable interaction of enterprises in the field of production of industrial product groups in the markets of Russia, CIS, South-East Asia, and later in Europe and the United States. This global, decentralized and transparent B2B / B2C trading platform has all the advantages of blockchain technology and thus provides manufacturers with the most convenient communication with their wholesalers and retail buyers. The scale, high-tech products and convenient user-friendly tools within the ecosystem will allow small and medium-sized businesses to achieve better results and gain practical benefit.

    Challenges that yodse ecosystem solves

    yodse project is aimed at solving a number of problems related to direct, convenient, rapid and profitable "manufacturer-consumer" interaction. The transparent ecosystem yodse focuses on the protection consumers from losses, connected with the lack of guarantees from manufacturers and abundance of poor-quality goods. By establishing communication mechanisms, buyers will be provided with technical support, and manufacturers will receive quality feedback. The platform will reduce the delivery time and enable consumers to purchase goods without intermediaries. Excessive costs of manufacturers for outdated marketing technologies and high fees of goods placement on existing e-commerce platforms will become history. The YODSE system offers its users low fees and creates conditions for easy access of small businesses to e-commerce and international markets.

    Advantages of using ecosystem (platform) yodse for manufacturers

    The yodse electronic platform and its tools allow businesses, operating in the production of industrial product groups to find their retail and wholesale customers and to provide direct sales without intermediaries. The system helps to set up a mechanism for communication with clients, enhance the transparency of transactions, perform transparent management and control in the process of delivery and payments, and expand the customer base, maximize the volume of goods turnover and net profit. In addition, owing to the global system based on the blockchain technology, small and medium-sized businesses will be able to solve the problems of entering new promising markets, as well as significantly improve the competitiveness of manufactured industrial products.

    Benefits for users from yodse ecosystem scaling.

    Joining of a number of manufacturers of industrial groups of goods to the yodse system will make it possible to conclude a lot of mutually beneficial, multimillion contracts. As the yodse platform dynamically develops and scales, there will be a gradual increase in the number of offices being opened in many regions in order to provide quality and continuous technical support to users in other countries and maintain the brand. The scaling of ecosystem will enhance the frequency of use of the platform in a number of countries, which will increase the number of users, thereby facilitating the establishment of export-import transactions between countries and, as a result, increase sales volumes of manufacturers. Manufacturers, who sign in earlier than others, will take the advantages of being pioneers in new markets.

    Which countries, markets, continents will cover YODSE ecosystem?

    The expansion of the yodse ecosystem geography is planned to begin in the markets of Eastern Europe and the countries of the Customs Union (Russia, Kazakhstan, Belarus, etc.), which are leaders in the production and procurement of industrial groups of goods. In the future, creators of the platform plan to expand the ecosystem and enter overseas markets, expanding the scope of their activities to the countries of the Asian region, Africa, Latin America. In the mid-term perspective yodse platform plans to cover the market of Europe, USA and Australia.

Leave a Reply