ChainCatcher news, the World Economic Forum (WEF) recently issued a serious warning about the potential vulnerability of central bank digital currencies (CBDCs) to decryption attacks from quantum computer systems.Quantum computers are largely still in the experimental stage. Various proofs of concept exist, and a few laboratories claim to have solved quantum system customization problems that traditional binary computers cannot resolve in a reasonable time. However, it will still take a long time to achieve true implementation.In a blog post on May 21, WEF mentioned this danger, stating that "central banks must embed cryptographic flexibility into CBDC systems to defend against quantum network attacks on payment infrastructure."

ChainCatcher news, the World Economic Forum has released the report "The Evolution of NFTs," which analyzes the complexity of the NFT landscape and highlights the key opportunities and challenges for the future.Research indicates that NFTs can provide significant value creation, with the potential to create novel and innovative ways to connect with consumers and foster more meaningful customer relationships. However, the recent volatility in the NFT space underscores the risks posed by a market driven by speculation and unsustainable value. Organizations planning to release NFTs should integrate them into their existing operations and ensure that a comprehensive strategy is developed before launch.Additionally, governments and regulatory bodies play a crucial role in formulating policies and standards that protect investors and build confidence in the NFT market.

ChainCatcher news, the World Economic Forum (WEF) recently released a white paper explaining how blockchain can provide the infrastructure needed to address climate change "in terms of speed and scale."According to the white paper, the value of blockchain to the climate action community can be categorized into four areas. First, blockchain can "enhance trust and ambition" in climate negotiations. It can also improve market transparency and credibility, and provide more funding for project developers. Finally, the WEF stated that digitization makes climate action "democratized."Brynly Llyr, Head of Blockchain and Digital Assets at the WEF's Crypto Impact and Sustainability Accelerator (CISA), emphasized the importance of considering and researching emerging technologies as tools to help combat climate change. He stated, "Global climate infrastructure, tools, and coordination technologies can help us keep pace with the changing Earth ecosystem. This is where blockchain and shared infrastructure technologies can play a role." (source link)

ChainCatcher news, according to Finextra, a Universal Digital Payments Network (UDPN) aimed at stablecoins and central bank digital currencies (CBDCs) has been launched at the World Economic Forum (WEF). The network is designed to provide interoperability between these digital currencies.It is reported that the payment network was launched in Davos, where a panel from Deutsche Bank, HSBC, Standard Chartered, East Asia Bank, and Akbank discussed the rapidly evolving digital currencies, interoperability, and infrastructure. The UDPN report indicates that several tier-one banks will participate in a series of proof-of-concept use cases for the remainder of this month to demonstrate how UDPN can be used to address the challenges of integrating digital currencies into everyday business, banking, and payment scenarios. (Source link)