Orchid signs on to World Economic Forum’s Presidio Principles for blockchainJun 17, 2020
Orchid has joined leading businesses, investors, and governments as an early adopter of the World Economic Forum's Presidio Principles, which enshrine foundational values for those building on top of blockchains. In addition to the World Economic Forum itself, other early signers include Accenture, Andreessen Horowitz, ConsenSys, Deloitte, the Ethereum Foundation, and the Presidency of Colombia.
The World Economic Forum has established the Presidio Principles to protect user rights around:
- Transparency & Accessibility
- Agency & Interoperability
- Privacy & Security
- Accountability & Governance
Orchid, whose mission is to help restore privacy to the Internet, is committed to all four of these pillars. In addition to privacy, the team prizes transparency, which is why Orchid has been designed from the start as an open-source project. The network's unique system of nanopayments is designed to eventually allow development by third parties, facilitating interoperability, and we collect no data on our users. And the team has worked hard to ensure best practices around governance.
The Presidio Principles align with the values we've built into Orchid from day one," said Co-Founder and CEO Dr. Steven Waterhouse. "As stakeholders within the broader blockchain community, we're excited to be early signatories to this initiative, which can be an important force in driving the development of projects that embody the ideals behind the technology."
The Presidio Principles were designed as a baseline for protecting and preserving user rights," said Sheila Warren, Head of Blockchain, Digital Assets, and Data Policy at the World Economic Forum. "We are excited to see Orchid's commitment to this vision and we look forward to working with the team to continue this important conversation and put the Principles into practice across the ecosystem."
Orchid will collaborate with the World Economic Forum and the other signatories to help advance the Presidio Principles within the growing community of blockchain entrepreneurs, developers, and users. By joining the initiative, we hope to work alongside other leaders in the space to help ensure blockchain technology delivers on its promises while protecting and empowering users.