Leemon Baird, the co-founder of Hedera, was recently invited to The Tech Talk Daily Podcast, where he talked about some of the many exciting things going on in the Hedera ecosystem. Some of them are seen in the way events unraveled in Davos, the world economic forum.
Davos is a meeting where government, business, and civil society leaders meet with the knowledge, clout, and expertise required to effect change. This year, Hedera has a sizable presence at the Davos World Economic Forum.
Leemon Baird talks about some of the major topics on the global agenda, especially around what Hedera aims to address this year. Some of these topics include the ecological and economic issues related to carbon emissions. Another theme is people’s lack of trust in governments, companies, banks, universities, and systems.
This severe lack of trust is a challenge that only transparency can solve. Doing things on ledgers where activities are transparent, fast, and not hidden from the public is an integral part of regaining people’s trust.
Another theme at the conference was the economic problems the world is facing right now and how they can be improved. Some of these are structural problems that may be hard to fix, but they can be improved with ledgers for increased efficiency, faster speed, and lower cost. Funds can be sent to other countries using stablecoins, which is significantly faster and cheaper than a wire. These are some of the themes discussed in Davos this year, and there seemed to be so much buzz and excitement about Hedera because they are focused on the things being discussed.
Leemon Baird discussed the D-rec technology, which can be used to recover lost keys and provides security and backup. The way D-Rec works is that the keys are distributed among several trusted people. A daily check would be implemented to ensure these individuals have their keys intact. Since the keys are in decentralized custody, hackers cannot access them. Hence, no central person can hold it hostage.
Leemon sympathized with people who were affected by the events that happened last year, especially the crypto winter. He urged them not to get distracted by good or bad news but to keep building and focusing on the goal.
He also emphasized the importance of security, transparency, and decentralization. Enterprises are interested in low-energy usage, a low carbon footprint, carbon neutrality, and carbon-negative production. He also adds that there will be a shift of tokens from pictures to real-world usage, and DeFi will turn to finance for the real world.
With its distinctive governing council, Hedera has consistently distinguished itself from its competitors and hopes to do so going forward with the implementations they have planned.
