CEO and founder of BitPesa, Elizabeth Rossiello, has been elected by the World Economic Forum to co-chair the Global Blockchain Council at the WEF annual meeting in Switzerland. She will join the 30 member council of industry experts that includes ministers, heads of regulatory agencies, CEOs and representatives from leading technical and civil societies.
The Global Blockchain Council was formed to give balanced and holistic advisory to projects in the Center for the Fourth Industrial Revolution Network (C4IR). The World Economic Forum is now able to tap into the resources and expertise of a larger network.
BitPesa is a blockchain-enabled platform that supports digital foreign exchange and business payment. The company was founded in 2013 in Nairobi. Initially it was meant to facilitate Kenya-UK payments, and has since expanded into African and European countries to broaden its clientele base.
WEF Blockchain Head, Sheila Warren, “We chose Elizabeth as one of the co-chairs for this committee, not only for her diverse background in this space, from technical expertise as well as regulatory, but also for her ability to bring together members of this often fragmented ecosystem.”
Related article: Kenya’s BitPesa acquires online European Money Transfer service, TransferZero
WEF created two new San Fransisco-based Centers in 2017. The centers are focused on the 4th Industrial Revolution and Cybersecurity. The Global Council on Blockchain, inside the first center, is one of six councils chaired by industry experts with the aim of helping to shape the global technology policy and corporate governance agenda, by providing a unique place in the international system where policy dialogue, practical learning and international agenda setting can take place across stakeholders and regions on an ongoing basis.
“The World Economic Forum has always been instrumental in multi-stakeholder engagement, which is important for blockchain, especially in regards to regulation and policy. We have made some progress in education, consumer adoption and pilot use cases that have proven scale,” said Ms Rossiello, “The creation and implementation of policy has been fragmented globally and is still underway trailing the innovation in the space. A council like this, with experts from all sides of the industry, is a strong advocacy tool for ensuring innovation can continue alongside policy that supports its continued progress.”
The first convention will be held in May 2019 upon which it will begin officially its advisory role to the WEF.
