On the second day of the World Economic Forum (WEF)'s annual meeting, panelists outlined their proposed future for humanity, which included a transition away from fossil fuels, Central Bank Digital Currencies, devices to track carbon footprints, and an explosion of digital property in the Metaverse..Climate change was one of the most widely-discussed subjects, with panelists proposing ways to aggressively transition away from fossil fuels and towards a Zero Carbon global economy..During a panel on small and medium-sized businesses, Norwegian business executive Kjerstin Braathen said while the transition away from fossil fuels would create energy shortages and inflationary pressures, the pain would be "worth it."."We need to accept there will be some pain in the process. The pace that we need will open up for missteps. It will open up for shortages of energy, it will create inflationary pressures," she said.."That pain is actually worth it, because if we don't, there is no business case, there is no economy, there is no welfare," she said..One panelist, Alibaba Group president J. Michael Evans, bragged about the development of a device to allow people to measure their "individual carbon footprint tracker."."That's where they are travelling, how are they travelling, what are they eating, what are they consuming on the platform," Evans said. "Stay tuned, we don't have it operational yet, but this is something that we're working on.".Central Bank Digital Currencies (CBDC), which Conservative MPs like Pierre Poilievre and Leslyn Lewis have expressed privacy concerns about, were also discussed. Credit Suisse Chairman Axel Lehmann predicted a CBDC would be launched within three years.."What I try to say is obviously we still have those huge legacy environment, and they need to migrate as well. So we will not yet see all the benefits coming through. But it will come, and will be much more efficient and also probably much more secure," Lehmann said..During one panel, called “Ushering in a Safer Digital Future," Australian eSafety commissioner Julie Inman Grant called for the suppression of freedom of speech..“I think we’re going to have to think about a recalibration of a whole range of human rights that are playing out online, from freedom of speech to being free from online violence," she said..A Twitter account with nearly 100,000 followers tweeted out a clip of Inman Grant's statement on free speech, and was suspended..During the same panel, BusinessWorld Contributing Editor Pranjal Sharma said governments should have “the right on our data as citizens,” which includes private medical data. “The concept of data ownership is going to evolve much faster than we realize," he said..Mark Edward Rose, chairman and CEO of Avison Young, spoke about the future importance of the "Metaverse," a virtual world that people will interact with through the use of virtual reality goggles..Edward Rose said companies like J.P. Morgan, Vans and Nike will eventually transition to selling virtual products to consumers in the Metaverse.."You can walk into a virtual store, grab a pair of virtual shoes off the shelf, put them on your feet... And if you don't think this is the next wave of retailing, you're gonna do that at your own peril," he said.."We do have some more things to worry about. But I think this is one of the most exciting times you could possibly be living in."
On the second day of the World Economic Forum (WEF)'s annual meeting, panelists outlined their proposed future for humanity, which included a transition away from fossil fuels, Central Bank Digital Currencies, devices to track carbon footprints, and an explosion of digital property in the Metaverse..Climate change was one of the most widely-discussed subjects, with panelists proposing ways to aggressively transition away from fossil fuels and towards a Zero Carbon global economy..During a panel on small and medium-sized businesses, Norwegian business executive Kjerstin Braathen said while the transition away from fossil fuels would create energy shortages and inflationary pressures, the pain would be "worth it."."We need to accept there will be some pain in the process. The pace that we need will open up for missteps. It will open up for shortages of energy, it will create inflationary pressures," she said.."That pain is actually worth it, because if we don't, there is no business case, there is no economy, there is no welfare," she said..One panelist, Alibaba Group president J. Michael Evans, bragged about the development of a device to allow people to measure their "individual carbon footprint tracker."."That's where they are travelling, how are they travelling, what are they eating, what are they consuming on the platform," Evans said. "Stay tuned, we don't have it operational yet, but this is something that we're working on.".Central Bank Digital Currencies (CBDC), which Conservative MPs like Pierre Poilievre and Leslyn Lewis have expressed privacy concerns about, were also discussed. Credit Suisse Chairman Axel Lehmann predicted a CBDC would be launched within three years.."What I try to say is obviously we still have those huge legacy environment, and they need to migrate as well. So we will not yet see all the benefits coming through. But it will come, and will be much more efficient and also probably much more secure," Lehmann said..During one panel, called “Ushering in a Safer Digital Future," Australian eSafety commissioner Julie Inman Grant called for the suppression of freedom of speech..“I think we’re going to have to think about a recalibration of a whole range of human rights that are playing out online, from freedom of speech to being free from online violence," she said..A Twitter account with nearly 100,000 followers tweeted out a clip of Inman Grant's statement on free speech, and was suspended..During the same panel, BusinessWorld Contributing Editor Pranjal Sharma said governments should have “the right on our data as citizens,” which includes private medical data. “The concept of data ownership is going to evolve much faster than we realize," he said..Mark Edward Rose, chairman and CEO of Avison Young, spoke about the future importance of the "Metaverse," a virtual world that people will interact with through the use of virtual reality goggles..Edward Rose said companies like J.P. Morgan, Vans and Nike will eventually transition to selling virtual products to consumers in the Metaverse.."You can walk into a virtual store, grab a pair of virtual shoes off the shelf, put them on your feet... And if you don't think this is the next wave of retailing, you're gonna do that at your own peril," he said.."We do have some more things to worry about. But I think this is one of the most exciting times you could possibly be living in."
