WWF founder and managing director Klaus Schwab announces resignation-his influence on the crypto industry
- Schwab’s resignation marks a decisive change for the World Economic Forum.
- His entry for crypto and blockchain has shaped global economic policy and regulation.
As CNF reported, the founder of the World Economic Forum Klaus Schwab will resign as the chairman of the management. After lending the forum for over 50 years, Schwab said that the WWF had to regain its “broadcast awareness” according to the latest internal challenges. Although he did not name a schedule, the WWF said that the transition would be completed by January 2027. Schwab’s departure means a big change for the organization behind the annual summit in Davos.
Resignation after allegations of misconduct and review of the forum
In a letter to the board, Schwab emphasized the persistent importance of the forum in today’s global context. He described the WWF as “financially well equipped”, but noted that the recent turbulence had affected its orientation. Schwab did not make it clear whether the disturbance referred to the second term of term of Donald Trump or internal investigations.
The decision follows an investigation of allegations of discrimination against several black and female employees who were also directed against Schwab. The WWF rejected all accusations. Last month, an external legal investigation did not determine any legal violations or misconduct, but pointed out leadership problems that were under the expected standards. President Børge Brende later said that the WWF would revise his code of conduct.
Schwab, 87, became a non-executive chairman after he resigned last year as the managing director. He said he would propose his successor at a due time and now concentrate on writing his memoirs. He added that the April 1st had symbolic value because it began to develop the idea of a “global village” 55 years ago
Schwab’s crypto vision shaped politics and tech government
Schwab was one of the first global personalities who dealt with blockchain and cryptocurrencies. In “The Fourth Industrial Revolution” he wrote that technologies such as blockchain redesign the border between physical and digital life. He sees cryptocurrencies as the key to expanding financial inclusion.
Under his leadership, the WWF published a blockchain value framework in cooperation with Accenture and others, which is intended to serve as guidelines for investments. In 2020, the WWF launched the Global Consortium for Digital Currency Governance to promote an inclusive digital financial policy. The forum brought together companies, regulatory authorities, scientists and NGOs to develop clear crypto guidelines.
In a WWF report from 2023, global standards to regulate cryptoma markets and to protect investors were proposed. At the 20025 summit in Davos, Schwab said that strong public-private coordination for the regulation of cryptocurrencies, artificial intelligence (AI) and quantum technology was essential. He called for a global process to ensure that such tools benefit from humanity.
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