The theme of Paris Blockchain Week moved around the evolution of Web3 in the mainstream and the cryptocurrency industry. It brought together many of the biggest names in the blockchain and cryptocurrency industry. Beginning on 21st March, this three-day event is a net positive for the crypto industry with prominent industry players coming together to discuss and share their thoughts about the decentralized ecosystem.
Neal Stephenson spoke about the crypto industry
Neal Stephenson is an American author. In the 1990s, he first coined the term metaverse. He said that this word’s meaning has changed for sure. He said that individuals and companies have started to skip the vital steps to build an economy at first. He mentioned the metaverse’s failure to view mass adoption and the very less taker in the bear market. The first day of the event started on 21st March and it appeared to be eventful. Joseph Lubin, the co-founder of Ether, gave the opening keynote speech. It reflected the increasing demand for a payment infrastructure that is Web-3 based and the requirement for a decentralized solution in conventional finance. For getting a fair idea of BTC trading you can visit the online trading platform https://bit-gpt-app.org/
Prospective effect of MiCA
Among many expert panels throughout the day, the one that attracted the attention of all was a discussion on the prospective impact and implication of the EU’s MiCA regulation. Unanimously all experts on this panel agreed that the next regulations would be assisting the European cryptocurrency industry overall. It will be setting some standards that other nations could use potentially in the future. The head of EU policy at Chainalysis, Janet Ho, stressed the requirement for a review of the obligations and implementation of the law and for considering feedback from supervisors of government and participants of the industry.
Tim Draper talked about the present banking crisis
Tim Draper, the American venture capital investor, talked about the future of money and decentralization at PBW 2023. He addressed the current banking crisis. He promoted BTC to be the true capital hedge. In his speech, he mentioned that they shook their confidence in this banking system. He said that a very strong leader would be building that trust back and relying on the banks that are now there and set them completely free. He too sang a song on Bitcoin that he wrote four years back. But he believed that it was very relevant now.
No lack of passion in the Parisian individuals
The PWB has no lack of enthusiasm despite the host country viewing nationwide protests following the controversial pension reforms of the French government. Robby Yung, the CEO of Animoca Brands said that the local government provided a warm embrace for cryptocurrency and blockchain enthusiasts in the middle of a sea of protests. Everything that happened there is why they are here. The reason decentralization was a great way to do things. It was precisely due to their concern as to what may take place in the financial sector that continues to be proven. Innovation comes first and sometimes bad things happen. Then it is about ethics as they look at what this innovation did.
The recent collapse of banks
Hall, the journalist of Cointelegraph, talked with Pascal Gauthier, the CEO of Ledger to have his view on what the present banking crisis taught everyone. He mentioned that the current series of events show how Bitcoin can be a safe bet against the central authorities’ threat. In the 2008 crisis, Bitcoin got designed in reaction to Lehman Brothers. It was because you cannot rely on central authorities. It was designed as central authorities will be failing. There is no question of if and it is more a question of when.
Conclusion
In an exclusive interview, co-founder of 1inch Sergej Kunz mentioned the requirement for self-custody. He mentioned that the FTX saga helped a lot of people to understand how important self-custody is. The current banking crisis highlights it more on this importance. He also mentioned all reasons behind curtailing mass cryptocurrency adoption. He told me about the understanding and education of people would be the reason for achieving it.
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