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BitFury Launches ‘Global Blockchain Business Council’ in Davos

Samburaj Das on 19/01/2017


The Bitfury Group, prominently known as a developer of bitcoin mining hardware and operator of mining farms, has launched the Global Blockchain Business Council (GBBC). The forum’s aim is to bring together leading businesses, executives & government authorities and figures to collaborate and push for the adoption of blockchain technology around the world.


Calling itself “the leading global full-service Blockchain technology company”, the Bitfury Group has, in collaboration with international law firm Covington, launched the inaugural council at a hotel in Davos. The event was planned to be held alongside the World Economic Forum’s Annual meeting at Davos this week.


First announced earlier this month, the GBBC was described by group CEO Valery Vavilov as “a much-needed forum for businesses, innovators and technologists” to unite under a common roof toward the development and advancement of blockchain technology. The GBBC was aimed to fulfill the role of a resource center and an educational forum, which fostered collaboration and partnerships across industries from around the world toward blockchain innovation.


Last night, the inaugural event saw participation from a number of technology, banking and financial giants from around the world. The panel of speakers included the likes of former Swedish Prime Minister & Senior advisor at Covington Carl Bildt; former Estonian President Toomas Hendrik; Dr. Wei Wang, founding chairman of China Mergers & Acquistions (CMAA) a government-approved Chinese non-profit and; Don Tapscott, author of the best-seller “Blockchain Revolution”.


Patrick Byrne and Dr. Wei Wang, pictured at the event.


Bitcoin enthusiast and proponent Patrick Byrne, CEO of e-commerce giant Overstock was a keynote speaker in an event that global leaders and senior executives representing the likes of the World Economic Forum, JP Morgan, EY, Hyperledger, the World Wide Web Foundation, the Bank of England among several others.


Credit China Fintech, a Fintech firm providing digital financial services to individuals and SMEs in China is among 25 founding members of the GBBC and the only representative, thus far, from Hong Kong and China. With over 21 million users on its platform, Credit China Fintech saw over RMB 800 billion in payment transactions processed in 2016. The Fintech company has announced its intention to introduce blockchain technology in its online lending and supply chain finance businesses. When integrated into its platform, blockchain technology adoption could gain a significant presence in the mainstream.

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