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.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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  • 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.