Sir Richard Branson Drums for Blockchain Saying Economies will flourish in a Borderless World

Yes, the one of the most famous technology entrepreneurs, Sir Richard Branson, is a strong supporter of the digital revolution.

Billionaire investor Richard Branson graced the Blockchain summit 2018 in Marrakech, Morocco hosted by Bitfury Group. He opined on the role of this technology in making the reality of a global village. This is in light of the recent push to isolationism as shown by events like Brexit.

Such an event naturally draws some of the brightest minds in investment and development of blockchain. This even came hot in the heels of even more turmoil in Branson’s home country emanating from Brexit decision. This is because the prime Minister, Theresa May is now lift with a daunting task high profile resignations including Boris Johnson who as one of the most prominent voices for Brexit.

High Profile Figures at the Summit

High profile personalities at the event included, Greece European Parliament member Eva Kaili who helped organize an engaging conversation between Branson and the former Prime Minister of Belgium, Guy Verhofstadt who is tasked with overseeing European parliament’s handling of Brexit.

Branson shared that he helped spread the idea that blockchain investment could be important in helping break down borders. This idea may not fly with all sides of the political divide but Branson’s egalitarian world view is understandable.

“As I said last night, we’ve got to go back to why [the European Union] was set up,” Branson said, speaking in the Kanoun dining room of his Morocco retreat. “Europe was set up to create a borderless society where people could love, marry, party, dance together, and it would be too sad to see it go back the other way.”

Branson believed in cryptocurrency and blockchain startups from the onset. He participated in a $30 million Series A to fund payment platform BitPay back in 2014. This platform went on to be successful and processes at least $3 billion in transactions per month.

Blockchain innovations are versatile and have a variety of uses. For instance, the Kenyan platform Bitpesa facilitates Bitcoin connection to mobile. This company went on to be licensed in the UK and just shows how innovations transcend borders. However, the company is considering moving headquarters to Luxembourg due to Brexit. They are likely to face licensing issues before setting up. Such were the issues of discussion and how to bridge these barriers.

Blockchain Global Connection

Branson is a believer in the interconnectedness of the global economy. Blockchain can help bridge these barriers as the sense of togetherness needed is what essentially powers blockchain. Branson is clearly echoing the voices of many who are concerned with the wave of nationalism in Europe and worldwide. Vavilov, the Latvia born BitFury founder for example echoes his believes stating that Bitcoin is a success because of the collaboration it brings-not the competition common with traditional payment systems.

“The most interesting thing, the most powerful thing is we will not compete with each other. Blockchain technology will allow you to launch economies, but collaborate, where everyone is incentivized to grow the economy, to push the economy.”

Perhaps his last take summarized it best. Branson quoted Bob Marley’s iconic track ‘One love’ to drive his point home. This is a wonderful ideal that Blockchain can help us realize.

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