Kinesis CEO Thomas Coughlin speaks at the 2nd Annual Blockchain for Impact 2019 Global Summit at the United Nations

On the 4th of June 2019, the 2nd Annual Blockchain for Impact Global Summit was held at the United Nations HQ in New York, with focus on Frontier Technologies Powering Blockchain.

Hosted by the Blockchain Commission for Sustainable Development, the focuses were:

• Member States Leadership on Frontier Technologies for the SDG’s

• Women Powering Blockchain

• Blockchain and Africa: The Next Frontier

• Blockchain Platforms for Good

• Ocean Action and Stewardship

• Digital Identity and the Blockchain

The themes were designed to deliver insightful and positive social and environmental impact around the world. The focus is designed to encourage more diversity, education, and government engagement and support in the blockchain sector to deliver profound and positive social and environmental impact around the world.

The vision of the commission was for the deployment of drastically creative decentralized solutions over issues such as; conservation of natural resources, economic growth, empowerment of all communities, financial security and the protection of the integrity of democratic systems for the benefit of humanity.

The Commission suggests that the transformative power of blockchain technology is not a threat to existing systems of governance, but rather, should be seen as an opportunity for national and international institutions to defend the rights of those they represent.

Members of Blockchain for Impact were invited to participate in shaping the narrative, mission and mandate of blockchain technology to help embed solutions that are impact driven and socially conscious.

Kinesis CEO Thomas Coughlin took to the stage to give a well-received speech at the panel for platforms disrupting the blockchain and activating impact at scale, inaugurated by Vice-Chair and Summit organizer, Sergio Fernandez de Cordova.

In his speech, Thomas gave an overview of the Kinesis Monetary System, how both the public and private sectors, can come together and empower the average individual to have more control over their finances through the use of digital assets. “Financial inclusion plays a big role in advancing all SDG”, Stated Thomas Coughlin “in a digital economy people can access financial services with greater ease and have privacy and security over their money.” In addition to this, he used recent developments with the Indonesian government as a case study for how underdeveloped countries, not just people, can benefit from the utilisation of blockchain technology as a payment solution, based on how his technology currently works with physical gold and silver.

When explaining the current state of the blockchain industry Thomas stated, “What I’m seeing at all levels of society is an awakening of the benefits, value and impact that blockchain can have, filtering through all of our societies, and how it’s changing the world. This is what we see ourselves doing here at Kinesis”.

This statement resonated well with those in attendance at the Summit and the question was then raised as to how is blockchain technology impacting governments and citizens in developing countries and how the Kinesis platform will be impacting individuals in these societies.

To which Thomas replied,

“In developing nations, there’s a high degree of instability, inefficient practices and problems with financial literacy.

In Indonesia Kinesis is developing a digital commodities exchange to create rules and mechanics that help eliminate corruption, provide transparency and increase tax revenues for the nation.

Kinesis solves this in the space of 30 seconds, they could pay their bills from their mobile phone or send money abroad for a fraction of a percent making it a much more efficient payments system.”

After the panel Thomas, and other members of the Kinesis team, received a large amount of interest from attendees, many of which converted to further meetings and potential partnerships could be formed in the near future.

A link to watch the panel can be found here.

For more information about the Kinesis system please visit Kinesis home page.