The Bitfury Group that develops Bitcoin mining hardware and operates mining farms has launched the Global Blockchain Business Council (GBBC) in collaboration with the international law firm Covington.

The announcement was made at the event held alongside the World Economic Forum’s annual meeting in Davos.

It happened just before the new United States President Donald Trump sent jitters down the spine of the world’s political and financial elite announcing at his inauguration: “From this day forward, a new vision will govern our land.” Trump has promised the American people “challenges” and “hardships” on the way of “getting the job done.”  The Bitcoin price took a cue from that message and immediately shot forward.

Top heads sighted

A number of technology, banking and financial experts and thought leaders were spotted at the Davos event where the Blockchain council has been created. They include former Swedish Prime Minister and senior advisor at Covington Carl Bildt, former Estonian President Toomas Hendrik, Dr. Wei Wang, founding chairman of China Mergers & Acquisitions (CMAA), and Don Tapscott the author of the best-seller “Blockchain Revolution”, just to name a few.

The Bitfury Group is a global team of experts in technology, business, communications, security and civil society, who are all big believers in the potential of Blockchain to open new doors for global economic opportunity and prosperity.

The main idea behind the Council is to bring together leading businesses, executives and government authorities to collaborate driving forward development and adoption of Blockchain technology around the globe.

A resource center and an educational forum

Valery Vavilov, the CEO of Bitfury Group, described the newly established Council as “a much-needed forum for businesses, innovators and technologists” to join forces and facilitate the advancement of Blockchain technology.

The GBBC will fulfill the role of a resource center and an educational forum to foster collaboration and partnerships across industries. It will assist companies by raising awareness of the potential of Blockchain technology and help engaging businesses interested in developing within the Blockchain space.

Covington brings to the table its broad-based experience in advising their clients in connection with policies, regulation litigation, enforcement and investigation, privacy and data security, consumer protection and transactional matters related to distributed ledger technology.  

Sebastian Vos, Co-Chair of Covington’s global public policy and government affairs practice, said:

“Through advocacy and international engagement, Covington looks forward to working with the Global Blockchain Business Council to unlock the potential of Blockchain technology.”

Blockchain revolution

We saw how the Internet revolutionized many industries. We are now witnessing  Blockchain technology steadily changing our approach to commerce, communications, financial services, entertainment industries, and many other spheres.

A lot has been said about the beauty of this technology and how it allows for any asset to be digitized, transferred and recorded on transparent and extremely secure ledgers.

Blockchain is marching across industries sweeping away slow, expensive and hackable intermediaries. When talking about the ways to facilitate this process, many experts often emphasize the need to increase collaboration between businesses and government authorities. Well, some are moving from words to deeds.

To learn more about the Global Blockchain Business Council please visit