Home Technology Blockchain Blockchain will start an Economic Revolution says Sir Richard Branson

Blockchain will start an Economic Revolution says Sir Richard Branson

We first learned about Sir Richard Branson’s support for the revolutionary blockchain technology back on October 3rd, when the Virgin Group founder and billionaire entrepreneur stated that the revolutionary technology could potentially bring an “economic revolution” across several nations globally.

In the latest segment earlier in the week, Sir Richard Branson spoke about the immense potential of Blockchain while also saying a few positive words about Bitcoin. Notably, in recent weeks Bitcoin has been gaining quite some attention from many influential personalities. Tim Draper mentioned how millionaires should invest in Bitcoin to secure a stable future while Elon Musk opened up about his love-hate relation for the cryptocurrency.

Emphasizing on the revolutionary Blockchain Technology, the owner of Virgin Island referred to the recent partnership between Hernando de Soto and Bitfury, who are trialing a land titling distributed ledger platform.

As per reports, the Peruvian economist and Bitfury have held advanced discussions with the Republic of Georgia’s National Agency of Public Registry regarding a project that aims to deploy blockchain technology to develop a better land titling system, with immutable and transparent attributes.

Reports show that in almost every developing country, land titles are often forged, manipulated, and stolen from their legitimate owners.

In a country like Egypt, citizens do own houses but almost 91 percent of them do not have any legal documents to prove their ownership which makes it almost impossible to apply for a bank loan or even start a business for that matter.

Branson has been supportive of blockchain development and the Bitcoin ecosystem for quite some time.

Keen on being one of the frontrunners for the Blockchain development and Bitcoin progress, Sir Richard Branson had started his own “Blockchain Summit” a couple of years back hosted on his private Necker Island.

The Blockchain Summit has seen some of the top minds and innovators share and discuss ideas revolving around the revolutionary Blockchain Technology on Necker Island. Did you know Sir Richard Branson purchased the 74-acre long island for $1,80,000 while the asking price was $6million.

The Blockchain Summit organized by the Virgin Group founder is responsible for several ongoing ideas and partnerships that include the famous Blockchain Alliance.

Sir Branson has openly offered Bitcoin his support on numerous occasions. Recently when the Virgin Group founder was asked if he feels Bitcoin will work he said,

“Well, I think it is working. There may be other currencies like it that maybe even better. But in the meantime, there’s a big industry around Bitcoin. — People have made fortunes off Bitcoin, some have lost money. It is volatile, but people make money off of volatility too.”

In an interview with Bloomberg, Branson has previously stated that Virgin Group has welcomed the idea of accepting Bitcoin for flights to space on Virgin Galactic.

In that interview, Sir Branson also revealed that the ambitious project has made slower progress than expected, with the ships just months away from being completed and test flights commencing by next year.

According to sources close to the matter, Bitcoin and Blockchain were one of the most talked-about subjects at the Virgin Disruptors event.

The CEO of Blockchain.info Peter Smith, Holly Ransom of Emergent Solutions and Matt Wallaert of Microsoft were amongst the attendees of the Virgin Disruptors Event where Sir Branson went on to state that he believes the revolutionary blockchain technology could create a “real economic revolution in several countries.”

Undoubtedly, every budding tech and an entrepreneurial individual has looked at the ideas and future that the revolutionary blockchain technology and Bitcoin provides and with the support of personalities like Sir Richard Branson, the time for Blockchain to fulfill its potential has perhaps picked up the pace.

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Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

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