October 17, 2018. The Cool Kids’ Founder, Ms. Karla Streegan Cruz delivered a keynote at the United Nations in New York about how blockchain can improve identity ownership, financial services, & voting.
Ms. Cruz said identity is the number one issue that blockchain can solve. Applying blockchain in identity not only empowers its owner but also makes it more secure. Using blockchain in identity can also allow the owner to use it as a property and manage it in terms of who can see the data and even get incentivized just by sharing it. In that way, identity will have value, just like how the public sees value in cryptocurrency today.
“Cryptocurrency for me, personally, is one step away from redefining how society sees value.” – Ms. Karla Streegan Cruz, Founder, The Cool Kids
The second application of blockchain is Financial Services. Ms. Cruz said that using blockchain in financial service can improve it to be more secure and cost-effective.
Blockchain will allow each vote to be accounted for. Additionally, it eliminates corruption and cheating that usually happens in elections in many countries.
Ms. Cruz is also joined by Mr. Brendan Playford, Innovator in Residence of The Cool Kids, Mr. Syed Hussain, Chief Commercial officer of BANKEX, and the moderator Ms. Melissa Jun Rowley.
The panel discussed the hype that surrounded the blockchain where Mr. Hussain shared that if ever the “bubble pops”, you may want to look at the remnants.
“Those who end up surviving, the survivors of today are the ones who will end up thriving in the very near future.” – Mr. Syed Hussain, Chief Commercial Officer, BANKEX
Mr. Playford further explained that blockchain technology is moving at a very fast pace. He said that we are currently at a phase where there are a lot of promises, making the entire industry unfocused. This is the reason why it is taking a while for adoption to catch up.
“… how to transform that technology into usable technology, and the technology that actually delivers its promise. If we can’t do that, over the next three years let’s say, then we can say its failed.” – Mr. Brendan Playford, Innovator in Residence, The Cool Kids
He then added that the point of this technology is “more about creating a solution and getting uses. It’s about creating an environment into which governments, organizations, and then the population can step into and be empowered.”
The panel discussion was held at a private side event of SDG Media Zone during the 73rd session of United Nations General Assembly on September 28, 2018 at the United Nations Headquarters, New York. It was a five-day event that started on September 24th and ended on the 25th.
The Cool Kids is a group of advocates who want to see technologies like blockchain get adopted correctly and responsibly. It focuses on bridging the gap between people and technology.