COVID-19 has accelerated the development and use of emerging technology across industries. For blockchain technology to scale in its next phase, global alignment between the public and private sectors is needed.
To help individuals and companies build trust and preserve the fundamental values of blockchain technology, the World Economic Forum’s Global Blockchain Council developed the “Presidio Principles: Foundational Values for a Decentralized Future.” Co-designed at the World Economic Forum’s offices in the Presidio of San Francisco, sixteen principles aim to protect users and preserve the values of the technology so that all can benefit.
“The blockchain ecosystem needed a baseline for designing applications that preserve the rights of users,” said Sheila Warren, Head of Blockchain and Data Policy, World Economic Forum. “During our council meeting, we realized we could help curb many of the mistakes and missteps seen so far if we were able to provide developers, governments and executives with a ‘Bill of Rights’ style document.”
Rights are grouped into four broad pillars: Transparency & Accessibility – the right to information about the system; Privacy & Security – the right to data protection; Agency & Interoperability – the right for individuals to own and manage their data; and Accountability & Governance – the right for system users to understand available recourse.
The Presidio Principles
Applications built on top of blockchain-based systems should preserve the following participant rights.
A participant should have access to information that would enable them to:
- Understand how a service is operated, including potential risks of the service, availability of source code, and the rules and standards upon which it is based.
- Understand the potential risks and benefits of a service’s use of blockchain technology.
- Understand system performance expectations and where the responsibility for service delivery lies.
- Understand the rights and obligations of different participants in the system.
A participant should be able to:
- Create, manage, and independently store cryptographic keys.
- Manage consent of data stored in third-party systems.
- Port data between interoperable systems or parts of a system.
- Revoke consent for future data collection.
- Have access to information sufficient to facilitate system interoperability.
- Assess if their data is at risk through appropriate disclosure procedures, which may include, but are not limited to, an examination of audit results, certifications, or source code.
- Have their data protected in accordance with internationally recognized technical security standards.
- Limit data collection to that which is necessary and data use to the purpose for which it was provided.
- Verify – through third-party or self-created tools – that operations have been completed and confirmed in accordance with the system’s rules.
- Access information needed to: (a) understand the system’s governance and rules and (b) pursue effective recourse mechanisms.
- Opt-out of using applications that don’t treat data in accordance with internationally recognized governance and data protection standards.
- Rectify demonstrably false, inaccurate, or incomplete data when necessary.
The Principles include a menu of options for how organizations or individuals can take action. A list of signatories is available to view and self-regulate/hold others accountable.
The genesis for this idea came during the first meeting of the Forum’s Global Blockchain Council in 2019. The content was developed and workshopped in sessions around the world, including at the Annual Meeting in Davos 2020 with a variety of members of the blockchain community, government officials, civil society members and business leaders. A public comment period on the developer platform GitHub was open from 10 April 2020 to 5 May 2020.
“Our Global Blockchain Council membership reflects varying ideological perspectives on what blockchain technology is appropriate for and where it is going, ranging from bitcoin maximalists to enterprise service providers,” Warren said. “This highly opinionated group came together and agreed that the blockchain community needed the foundational principles we are presenting today. Agreement from across Council members, despite their divergent perspectives, indicates the critical need for a values-based document like this in order to ensure that the technology remains true to its roots as the application layer starts to scale.”
The Forum is partnering with ecosystem leaders from Hyperledger and Ethereum, as well as the consulting and investor communities to issue specific “Guidance Documents” around how the principles can be implemented on a more tactical level. These will further help developers, governments, executives, corporate boards, international organizations and others implement the principles and take action now.
Additionally, Global Blockchain Council members will be partnering with individual organizations, associations and membership-based entities and investors for virtual sessions on how companies can meaningfully implement the Principles in their operations.
Early Adopters and Supporters
“I accepted the nomination to Co-Chair the Global Blockchain Council because I believe despite differences in methods and philosophies, there’s a shared feeling in the blockchain ecosystem that this technology is truly disruptive, democratizing access to money and ownership of data in ways that we never could before,” said Elizabeth Rossiello, Chief Executive Officer, AZA Finance. “As a founder and entrepreneur, I know that the Presidio Principles will encourage wider accessibility to emerging technologies and therefore wider potential for adopters.”
“As fiduciaries, it is our responsibility to act not only in the interest of our investors, but also in a manner that better aligns investor outcomes with the broader objectives of society,” said Meltem Demirors, Chief Strategy Officer, CoinShares. “By incorporating the Presidio Principles into our investment analysis, ownership policies, and disclosures, we will introduce a voluntary set of investment guidelines for professional asset managers allocating institutional capital into digital currencies and blockchain networks.”
“As open sourced and decentralized systems keep moving forward, we have seen how challenging it can be to build guidelines that apply to different and evolving blockchain projects, and that help teams work to solve problems together,” said Aya Miyaguchi, Executive Director, Ethereum Foundation. “Fortunately and thanks to the hard work of everyone involved, I believe that the Principles will provide a high-level framework that can really help these critical conversations continue throughout the lifespan of the technology.”
“As an open source community, we are focused on developers,” said Brian Behlendorf, Executive Director, Hyperledger, Linux Foundation. “How they choose to build their solutions affects not only the users of today, but the trajectory of the technology. We are exploring ways for our community of developers to not just read and sign onto the principles – but look for ways to meaningfully integrate them into their processes.”
“Decentralized protocols are designed to enhance trust and security through transparency,” said Joseph Lubin, Founder of ConsenSys. “The Presidio Principles are a valuable next step for creating ecosystem-wide accountability to these goals. We hope all builders of Ethereum-based projects – and across the blockchain landscape – will sign on to demonstrate their commitment to the users of their systems and applications.”
“We have built our blockchain business around the key needs and requirements of our clients and we are excited to join with others to advance these principles,” said David Treat, Senior Managing Director and Global Blockchain Lead, Accenture. “Our focus is to responsibly apply this technology to drive real value with a priority on inclusion and social impact, particularly in these challenging times where there is so much potential to help.”
“The World Food Programme has been exploring blockchain technology for many years to help expand refugee choices for assistance more efficiently, transparently and securely,” said Arif Husain, Chief Economist and Director of the Food Security Analysis and Trends Service at United Nations World Food Programme. “Ensuring that the people we serve truly benefit from every blockchain deployment is of utmost importance to us. We welcome the opportunity to use these principles ourselves but also to share more widely with our peers in the International Organisations community.”
“The Presidio Principles will become a global benchmark for good governance and accountability for the next generation of decentralized technology platforms,” said Tomicah Tillemann, Founder and Director, Digital Impact and Governance Initiative, New America. “At a moment when demand for accessible digital services is surging, the Principles will help the private sector and government create solutions that offer people more control of their data, privacy, and digital rights. We are grateful for the opportunity to collaborate with the World Economic Forum and an extraordinary group of leaders in developing this framework.”
“In our mission to empower everyone with economic freedom, we created and support Zcash as a fair and open currency,” said Zooko Wilcox, CEO of the Electric Coin Company. “Our values and commitment to high standards of user consent, security, and organizational transparency align strongly with the Presidio Principles and we look forward to their use as a standard in support of human freedoms.”
“Colombia views the Fourth Industrial Revolution as a significant opportunity for our country and we have worked to create an environment that favours and accelerates the transition to Industry 4.0,” said Victor Munoz, High Presidential Counsellor for Economic Affairs and Digital Transformation, Colombia. “We supported the creation of the Presidio Principles – as well as guidelines and design principles for public institutions – because we wanted to ensure that progress can continue rapidly and responsibly, ensuring that basic characteristics like security and data privacy are secured for our citizens.”
“In the Digital Economy 1.0 the focus was mainly on centralized efficiency and scale, too often at the expense of individuals’ privacy and rights,” said Jen Zhu Scott, Founding Principal, Radian Partners. “The Presidio Principles are designed to encourage aspiring entrepreneurs, builders, and participants to co-create a Digital Economy 2.0 that is inclusive, transparent, and with profound respect and protection to individual digital rights so we can empower the people as well as the businesses.”
“Ongoing dialogue between all stakeholders is critical to help businesses and governments alike navigate the challenges and opportunities presented by blockchain innovation,” said Greg Medcraft, Director, Directorate for Financial and Enterprise Affairs, Organisation for Economic Co-operation and Development (OECD). “The Presidio Principles are an important contribution to this essential dialogue”.
“Blockchain, as the Internet of Value, holds enormous potential to build a more sustainable, prosperous, healthy and just world,” said Don Tapscott, Co-founder and Executive Chairman of the Blockchain Research Institute. “But people and organizations will determine how and to what goals this innovation is applied. The Blockchain Research Institute was pleased to contribute to the Presidio Principles and we commit to advocate them globally to help ensure the promise of this technology is fulfilled.”
“Technology holds great potential for increasing trust and transparency – but if not deployed correctly, it also holds great risk to the world’s most vulnerable,” said Delia Ferreira Rubio, Chair of Transparency International. “We want to use these Principles in our work across the globe to ensure that the user and technology’s potential for good is at the heart of each design choice.”
“We commend the World Economic Forum’s initiative on achieving wide alignment and responsible adoption of transformative technologies,” said Linda Pawczuk, US Blockchain Leader, Deloitte Consulting LLP.
“Everledger was founded in 2015 with the mission of digital transparency,” said Leanne Kemp, Founder and Chief Executive Officer, Everledger. “The space has evolved over time, but it is clear that most are here to transform the way things operate for the better. We are excited to use the Principles in conversations internally and with our partners to hold each other accountable to the vision we are trying to achieve.”
“At OmiseGO, we believe that the ability for people to transfer money globally and without restrictions has become a basic human need,” said Vansa Chatikavanij, Chief Executive Officer, OmiseGO. “Our contribution towards a more financially accessible world is to launch the OMG Network to scale Ethereum transactions and lower the cost barrier, without sacrificing security. User protection and governance are critical for fintech players. The Presidio Principles is a starting point to help ensure innovation can progress with sufficient consideration.”
Strengthen Inclusion and Empower the World’s Invisible Billion
The World Bank announced today the launch of the second Mission Billion Challenge for innovative solutions to increase inclusion and access to digital platforms such as identification systems. This challenge will crowdsource innovations at a time when countries seek to deliver cash relief to vulnerable persons, such as informal workers affected by the COVID-19 pandemic. The Challenge offers cash prizes totaling US$150,000 for the most promising solutions.
“The challenges countries are facing to mitigate the economic impact of COVID-19 underscore the urgency for action. Innovation that takes into consideration gender equality and different levels of access to technology among vulnerable groups is critical,” said World Bank Vice President for Infrastructure Makhtar Diop, “The Mission Billion Challenge is a platform for sourcing solutions that address disparities by helping to ensure identification systems are inclusive of all people.”
The Mission Billion Challenge comes at a time of an unprecedented global crisis. The pandemic highlights the importance of platforms (such as foundational IDs, government to person (G2P) payments, and social registries) to quickly scale up or to introduce new social protection programs. In particular, countries with such assets have been able to efficiently make cash transfers to informal workers, migrant workers, and other vulnerable populations who are difficult to identify and not commonly included in social safety nets. The Challenge seeks more solutions to how countries can increase their efforts to reach women and girls, and vulnerable populations—who often lack smartphones, computers and broadband internet access—to prove who they are, remotely with no or minimal in-person interaction, so they can access services and benefits with minimal risks to health.
“Inclusion must be at the heart of all digital solutions. Vulnerable groups—such as the poor, people living in remote areas, women and girls, migrants and refugees—are more likely to face barriers to accessing and using their IDs. They must have equal access to services, support, and new economic opportunities which having an ID helps create,” said World Bank Vice President of Equitable Growth, Finance, and Institutions Ceyla Pazarbasioglu.
The 2020 Mission Billion Challenge offers a Global Prize for solutions with world-wide application to ensure the inclusivity of ID systems for vulnerable groups, particularly during physical distancing requirements. This year, a new Regional West Africa Prize, will seek innovative solutions that facilitate contributions to social insurance programs, such as pensions and savings accounts, by informal sector workers.
Individuals and organizations with a strong passion for developing innovative solutions are encouraged to apply. Submitted solutions to the Challenge will be reviewed by a group of experts in digital identification, inclusion, and international development. Finalists will be invited to a high-level event to present their solutions in front of distinguished judges around the World Bank Group’s Annual Meetings in October 2020.
The Mission Billion Challenge is open. The submission deadline is August 14, 2020. To learn more about the Challenge, visit: http://id4d.worldbank.org/missionbillion.
About the Identification for Development (ID4D) Initiative
The World Bank Group’s Identification for Development (ID4D) Initiative helps countries realize the transformational potential of digital identification. ID4D is a cross sectoral initiative that works closely with countries and partners to enable all people to exercise their rights and to access services, including to provide official identification to the estimated 1 billion people currently without one. ID4D has three pillars of activity: country and regional engagement; thought leadership; and global convening and platforms. The ID4D agenda supports the achievement of the World Bank Group’s two overarching goals: ending extreme poverty by 2030 and promoting shared prosperity. ID4D is supported by the Bill & Melinda Gates Foundation, the UK Government, the French Government, the Australian Government, and Omidyar Network.
Future Vaccines, Wearable Bio-sensors, Aerospace Navigation: 2020 Cohort of Young Scientists
The World Economic Forum today announces its Class of 2020 Young Scientists, representing 25 exceptional researchers at the forefront of scientific discovery.
Recognition of the Young Scientists comes at a time when the need for evidence-based policy has never been clearer. Although the challenge of COVID-19 has unintentionally diverted attention away from other research work – despite the pressing global issues that these efforts address – the need for science to test, predict and explain how different phenomena affect human and ecological outcomes is greater than ever. The Young Scientists were nominated by leading research institutes according to criteria including research excellence, leadership potential and commitment to serving society.
These brilliant academics, 40 and under, have been selected on the basis of their achievements in expanding the boundaries of knowledge and practical applications of science in issues as diverse as child psychology, chemical oceanography and artificial intelligence.
Eight of this year’s Young Scientists study in Europe, while seven work in Asia, six are based in the Americas, two in South Africa and a further two in the Middle East. Fifteen – more than half – of the 25 Young Scientists are women.
“We are looking forward to working with the Class of 2020 Young Scientists to help leaders from the public and private sector better engage with science and in doing so, help young researchers become stronger ambassadors for science, which the world needs now and will continue to need post-COVID-19,” said Alice Hazelton, Programme Lead, Science and Society, World Economic Forum.
Here are the World Economic Forum’s Young Scientists of 2020:
- Sarah Fawcett (University of Cape Town, South Africa, South African): Fawcett researches the role of ocean chemistry and biology in climate, as well as the impacts of human activities on marine environments using measures of elements such as carbon and nitrogen
- Salome Maswime (University of Cape Town, South Africa, South African): Maswime seeks to understand surgical health systems and causes of maternal death during caesarean section in poorly resourced areas to improve surgical care across populations
From the Americas:
- Gao Wei (California Institute of Technology, USA, Chinese): Gao develops skin-interfaced wearable biosensors that will enable analytics through sweat rather than blood, leading to non-invasive and real-time analysis and timely medical intervention
- Francisca Garay (Pontificia Universidad Católica de Chile, Chile, Chilean): Garay is studying what are the most basic building blocks of the universe by developing technologies to accelerate and enhance the capabilities of particle accelerators
- Diego Garcia-Huidobro (Pontificia Universidad Católica de Chile, Chile, Chilean): Garcia-Huidobro uses human-centred design methods to develop sustainable and scalable community-level health interventions in Chile
- Jennifer Ronholm (McGill University, Canada, Canadian): Ronholm is working to strengthen the microbiome of agricultural animals to resist infections in the absence of antibiotics, with the aim of reducing the spread of antimicrobial resistance
- Stefanie Sydlik (Carnegie Mellon University, USA, American): Sydlik designs new materials that stimulate the body’s healing response to enable the regeneration of natural bone as an alternative to metal implants currently used to heal bone injuries
- Fatma Zeynep Temel (Carnegie Mellon University, USA, Turkish): Temel uses mathematical models and physical prototypes to test and explore biologically inspired designs, leading to the development of small-scale robots and sensors
- Lee Sue-Hyun (Korea Advanced Institute of Science and Technology, South Korea, Korean): Lee researches how memories are recalled and updated, and how emotional processes affect human memory, to inform therapeutic interventions for mental disorders
- Meng Ke (Tsinghua University, China, Chinese): Meng seeks to understand the socio-economic causes of population ageing and declining population rates to suggest what public policy measures and innovations can be used to address them
- Shi Ling (Hong Kong University of Science and Technology, China, Chinese): Shi researches the vulnerability of cyber-physical systems to protect safety-critical infrastructures – such as power utilities and water transportation systems – from attacks
- Sho Tsuji (University of Tokyo, Japan, Japanese): Tsuji seeks to understand how an infant’s social environment affects language acquisition – a key predictor of future literacy – to inform culturally sensitive, science-based, societal interventions
- Wu Dan (Zhejiang University, China, Chinese): Wu is researching technological advances in MRI techniques to improve its ability to detect tumours and stroke, as well as monitor foetal brain development
- Yi Li (Peking University, China, Chinese): Yi researches social-communicative impairments in children with autism in China to develop more precise screening and diagnosis, as well as innovative treatment approaches in the country
- Ying Xu (Chinese Academy of Sciences, China, Chinese): Ying’s research focuses on enhancing China’s low-orbit Beidou navigation satellite system, which could lead to advances in the commercial aerospace industry
- Celeste Carruth (ETH Zurich, Switzerland, American): Carruth is developing a new 2D ion trap experiment for quantum information processing that is expected to be more reliable and cheaper to scale up than competing technologies and aims to lead to breakthrough quantum computing results
- Nicola Gasparini (Imperial College London, United Kingdom, Italian): Gasparini is developing novel technologies to treat severe and incurable vision problems caused by degeneration of the retina, which affects almost 200 million people worldwide
- Joe Grove (Imperial College London, United Kingdom, British): Grove investigates how viruses enter human cells and evade the immune system to reveal new biology and inform the design of future vaccines
- Philip Moll (Ecole Polytechnique Fédérale de Lausanne, Switzerland, German): Moll is developing new methods to make micro-scale modifications to material structures with the potential to improve quantum computing
- Mine Orlu (University College London, United Kingdom, British): Orlu is designing patient-tailored pharmaceutical and healthcare technologies that contribute to healthy and independent ageing across the life course
- Michael Saliba (University of Stuttgart, Germany, German): Saliba is developing inexpensive, stable and highly efficient perovskite solar cells that will enable the acceleration of sustainable energy technology
- Andy Tay (Imperial College London, United Kingdom, Singaporean): Tay is developing new technology and materials to engineer immune cells, tissues and systems, with the aim of preventing and treating cancer
- Jan Dirk Wegner (ETH Zurich, Switzerland, German): Wegner develops novel artificial intelligence methods to analyse large-scale environmental data and accelerate humanity’s ability to solve ecological problems
From the Middle East:
- Joseph Costantine (American University of Beirut, Lebanon, Lebanese): Constantine’s research leverages electromagnetism to design a new generation of wireless communication systems, biomedical sensors and wirelessly powered devices through radio frequency energy harvesting
- Joanna Doummar (American University of Beirut, Lebanon, Lebanese): Doummar seeks to better understand complex underground drainage systems, known as karst aquifers, to better address and solve national water quality and quantity challenges
Dramatic Rise of Cybersecurity Risks from COVID-19 Prompts Action Plan
In a matter of weeks, the pandemic forced the global economy and society, organizations and individuals to become more reliant than ever on the internet and the digital economy. According to the Forum’s COVID-19 Risks Outlook: A Preliminary Mapping and its Implications, cyberattacks and data fraud are considered the most likely technological risks of COVID-19 for the world, and the third of greatest concern overall owing to abrupt adoption of new working patterns.
To support business leaders responsible for reinforcing the cyber resilience of their organizations in an unforeseen, instantaneous new reality, the World Economic Forum today launched The Cybersecurity Leadership Principles: Lessons learnt during the COVID-19 pandemic to prepare for the new normal.
All leaders and organizations are pressured to adapt business models faster than anyone was prepared for, to ensure existential survival. The principles provide a framework for responsible decision-making and action in this crucial period to help organizations balance short-term goals with medium- to longer-term imperatives. To bolster cyber resilience and secure operations, they urge leaders to:
Foster a culture of cyber resilience Focus on protecting the organization’s critical assets and services Balance risk-informed decisions during the crisis and beyondUpdate and practice response and business continuity plans as the business transitions to the “new normal”Strengthen ecosystem-wide collaboration
“Due to COVID-19, businesses must accelerate their digital transformation to harness the benefits while striking a balance between agility, scalability, efficiency, profitability and cybersecurity,” said Georges De Moura, Head of Industry Solutions, Centre for Cybersecurity, World Economic Forum. “The confluence of these disruptive forces is impacting critical functions and industry ecosystems globally.”
“This crisis has prompted a step-change in our reliance on digital channels. We are managing the associated risk by following appropriate principles, including fostering a greater culture of cyber resilience and strengthening collaboration with external stakeholders”, said Sandro Bucchianeri, Group Chief Security Officer, Absa Group.
“The principles highlighted in this report will help businesses take an overall approach that combines cybersecurity with system engineering and operations to prepare for and adapt to changing conditions, and to withstand and recover rapidly from disruptions caused by cyberattacks and crisis scenarios,” said Mark Hugues, Senior Vice President Security, DXC Technology.
Known before the pandemic, the relevance and benefit of the principles and imperatives are underscored by the new reality, its pace and scale. COVID-19 is confronting every organization with the limits of its ability to learn and change in an environment where speed is everything and where delaying key decisions can have a dramatic impact on business operations.
With the instantaneous shift to the digital realm, cyber resilience and cybersecurity are no longer theoretical nice-to-haves: companies – and countries – have become painfully conscious of the fragility of the critical systems upon which they vitally depend and that must be secure and resilient.
“In the urgent management of near-term challenges, responsible business leaders must incorporate cyber resilience in the business operating model and invest in capabilities to anticipate, withstand, recover from and adapt to adverse conditions and cyberattacks, to position the business for its success beyond the pandemic conditions,” De Moura said.
According to the report, this approach and the rigorous application of the principles will help organizations earn the trust of employees, customers and business partners, and help to successfully adapt in an increasingly ambiguous and fast-moving world.
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