Klaus Schwab to step down as WEF chair by 2027, here’s a look at his crypto legacy

World Economic Forum founder Klaus Schwab is reportedly preparing to step down from his role as chairman. Here’s a look at how Schwab’s outlook on crypto influenced the wider global economy.

According to a recent Financial Times report, Schwab has begun the process of stepping down from his role as chairman of the WEF board of trustees, two inside sources have confirmed. Although Schwab has not given an exact date for his departure, the WEF said that the process should be completed by January 2027.

Schwab has been executive chair for the WEF board for more than half a century. During his time as the chairman, he has been influential in driving forward economic innovation on the global scale.

Some of the concepts he advocated for include stakeholder capitalism, the Great Reset, digital governance, and sustainable growth, inspiring numerous policy reforms worldwide.

In fact, Klaus Schwab was one of the first global leaders to acknowledge how important cryptocurrency and blockchain technology was to the digital transformation of society. He often highlights how these technologies can revolutionize finance, communication, and even governance.

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In his essay titled “the Fourth Industrial Revolution,” Schwab highlighted how crypto and the blockchain could become a transformative force that can transform global financial inclusion and reshape how economies operate.

“Technologies such as blockchain, used in executing cryptocurrency transactions, and smart materials are redefining and blurring the boundary between the digital and physical worlds,” stated Schwab.

In 2019, the WEF teamed up with the International Organization for Public-Private Cooperation and Accenture to publish a report that aimed to provide companies and governments with a blockchain value framework to help them engage with blockchain investments. The report helped organizations decide on whether they should engage with blockchain technology or not.

In 2020, the WEF under Klaus Schwab’s leadership held the first global consortium which focused specifically on creating a regulatory framework for the digital currencies, including stablecoins. The Global Consortium for Digital Currency Governance was established with the goal of making financial system more accessible through inclusive and inter-operable policies.

The consortium brought together leading companies, financial institutions, government representatives, experts, academics, international organizations, NGOs and members of the Forum’s communities to discuss solutions and frameworks surrounding digital currencies.

In 2023, the WEF released a report that suggested a number of global guidelines that could serve to regulate the rapidly-evolving crypto industry. The report emphasized the need for harmonized regulations to ensure market stability and investor protection in the crypto space.

How did Klaus Schwab view crypto?

Overall, Klaus Schwab sees cryptocurrency and the blockchain as central elements to revolutionizing the financial system. However, he has also been very vocal about the importance of having clear regulatory frameworks to ensure that the transformative potential of virtual assets can be realized and the risk and harm associated with crypto can be minimized.

During the 2025 World Economic Forum in Davos, Schwab stated that governments play a crucial role in ensuring that there are clear regulatory frameworks and ethical policies that can accommodate new technologies entering the financial and economic sectors.

These technologies, continued Schwab, include artificial intelligence, quantum computing, and cryptocurrency among others. He believes collaboration between the public and private sectors is the key to establishing security, efficiency, transparency, and inclusivity in the crypto space.

“We need more efforts. Not just summits from time to time, we need a coordinated global process to make sure that those technologies are to the benefit of humankind, of everybody,” said Klaus Schwab in his speech.

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