The Crypto Industry Is Going To The World Economic Forum in Davos
DAVOS, Switzerland – The World Economic Forum kicked off Tuesday Jan 17 morning in Davos, Switzerland. The annual official conference has become an unlikely but important destination for the crypto industry. Crypto businesses have used the event to raise their profile and attract new investment.
Crypto And Blockchain Companies Take Over Davos
Despite the high number of bankruptcies and the major collapse of FTX, the crypto industry is still present in Davos, but with a more subdued presence compared to previous years.
Crypto is not always an inviting topic, but we want to demystify it to show that what you see in the headlines is not what the technology is about, said Brynly Llyr, the World Economic Forum’s head of blockchain and digital assets.
In recent years, the cryptocurrency industry’s attendance at the World Economic Forum in Davos, has increased rapidly. With seven blockchain sessions on the official program this year – including panels on regulation and digital tokens – blockchain’s presence is bigger than ever.
Blockchain, Not Crypto
Jeremy Allaire, CEO of USDC stablecoin issuer Circle said on that blockchain technology itself should be viewed similarly to an operating system, while individual use cases should be regulated separately.
It’s important not to conflate cryptocurrencies and CBDCs, stablecoins and DLT…. they’re very different. The underlying tech has performed perfectly, said Dan Schulman President and CEO of PayPal.
The WEF has also emphasized the potential of Tokenomics. Tokenomics are the economics of how certain tokens work, operate, and interact with other tokens.
Governance tokens are a type of crypto asset that allows people to access the benefits of blockchain technology while also incorporating aspects of traditional finance. DAOs and DeFi applications have proven to be useful despite some of the challenges faced by the crypto community. They continue to attract capital and are sources of innovation for blockchain and crypto overall.
Famous CZ from Binance, the Crypto leader will even join Davos and hold a chat named “Never Stop Building”. Blockchain is here to stay.
.@cz_binance will be at Davos (virtually) today for a fireside chat at #BlockchainHubDavos.
🗓️ January 18, 2023
⏰ 4:30PM UTCGet your livestream ticket now.
➡️ https://t.co/suZ4g9V6r4 pic.twitter.com/MWeqiF9b23— Binance (@binance) January 18, 2023
Regulations
Crypto is not for Wealth but for Freedom. And Freedom is Wealth.
Recently, government regulators have shown a new level of urgency in their investigations of the industry, issuing fines and subpoenas. For instance, multiple regulators and policymakers are actively participating in the event. Panels include United Nations representatives and are hosted by the GBBC (Global Blockchain Business Council), alongside with Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero and Johannes Duong, of the Austria’s central bank.
