The World Economic Forum has released a white paper titled “Realising the Potential of Blockchain”, proposing a global governance system for the technology rather than a state-based approach. Exploring governance needs across the platform, the application and the ecosystem as a whole, the paper advocates for a multi-stakeholder approach using a “global solution networks” framework.
At the platform level, the paper investigates the current scalability and standards issues in relation to cryptocurrency. At the application level, the paper calls for more oversight, skilled talent and user-friendly interfaces. Finally, at the overall ecosystem level, the paper explores current regulatory restraint, legal structures and scientific research into the technology. The paper also introduces what it deems to be the eight stakeholders in the ecosystem: innovators, venture capitalists, banks and financial services firms, developers, academics, non-governmental organisations , government agencies and individuals.