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Ethereum Soars 30%, Tops $300 After WEF Blockchain Report

Mike Novogratz said yesterday that he would be adding if Ether dropped near $200, and as it did overnight, a bid appeared and helped by positive comments in a World Economic Forum whitepaper on „realizing the potential of blockchain,“ Ethereum has exploded higher, topping $300.

Quite a reversal…

While the catalyst is unknown, CoinTelegraph reports that The World Economic Forum (WEF) today published a dedicated Blockchain report detailing how the technology will flow into the global economy.

Described as a white paper, Realizing the Potential of Blockchain provides background and suggestions as to how Blockchain will propagate throughout the world’s infrastructure.

From business to regulation, how disruptive innovation can be harnessed is forming an increasingly debated topic for international enterprises.

“This report helps us to understand that a distributed blockchain ecosystem need not be a disorganized one, and improved governance need not imply formal governmental legislation or regulation,” WEF Managing Board Member Richard Samans commented in a press release about the white paper.

While the WEF is often synonymous with the phrase “distributed ledger” – a euphemism for centralized private Blockchains popular with major financial institutions – the cryptocurrency community was also broadly receptive to the white paper’s content.

“This report will provide enormous value to technology companies, government agencies, NGOs and user organizations everywhere,” Chamber of Digital Commerce President Perianne Boring said.

“…Anyone who cares about the future of the blockchain ecosystem should read this report and heed its wisdom.”
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