Richard Branson: Blockchain Can Create Economic Revolution

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Blockchain technology could bring an “economic revolution” in many developing countries where proving ownership of assets or getting access to capital is difficult,  Virgin.com CEO and Founder Richard Branson told an audience at the “Virgin Disruptors” event in London on Monday, October 3, 2016.

Virgin Group founder and billionaire entrepreneur added:

“If you take somewhere like Egypt, 90 percent of people have got houses, they’ve got a garden, but they’ve got no piece of paper to show ownership of that … And without ownership of your property, it’s almost impossible to start a business or get a bank loan or anything.”

According to a report by CNBC, Branson referenced the work of well-known economist Hernando de Soto, who recently announced a partnership wtih bitcoin mining company BitFury and the Republic of Georgia’s National Agency of Public Registry, to trial a land titling program.

Branson added that the use of Blockchain technology could create a “real .. .economic revolution in these countries that would be stagnating.”

It’s not the first time Branson has spoken about Blockchain technology. The entrepreneur has hosted the “Blockchain Summit” on his private Necker Island for the last two years.

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Founder of Blockchain News and The Hackitarians Foundation, Richard Kastelein is an award winning publisher and editor, hackathon organiser and entrepreneur. He has written over 700 articles at Blockchain News, has a massive network in the Blockchain arena and is available as a speaker and consultant. (richard@the-blockchain.com) Kastelein has spoken (keynotes & panels) on technology at events in Amsterdam, Barcelona, Belfast, Berlin, Brussels, Brighton, Copenhagen, Cannes, Cologne, Curacao, Frankfurt, Gdansk, Hollywood, Hilversum, Geneva, Groningen, London, Las Vegas, Leipzig, Madrid, Melbourne, NYC, Oxford, Rio de Janeiro, Sheffield, San Francisco, San Jose, Sydney, Tallinn, Vienna, and Zurich. A Creative Technologist & Canadian (Dutch/Irish/English/Métis) his career began in the Native Press (Canadian Arctic) and he later spent a decade in the Caribbean media. Currently, he writes occasionally for Wired Insights, Guardian & Virgin and his articles have been translated into Dutch, Greek, Polish, German & French.
  • As usual, Branson has his fingers on the wrist of the times. Having lived in Egypt, it could only make quality of life and income distribution better by creating block chain titles to land and housing.