He European Blockchain Convention (EBC) took over Barcelona in its tenth edition. The two-day event featured a series of speakers who fostered insightful dialogues among industry experts.
In the Catalan capital, some of the crypto industry's brightest minds discussed digital assets, decentralized finance (DeFi), tokenization, Web3 and sustainability, exploring the future of the industry amid growing adoption and regulatory framework evolving around the world.
Day 1: “Cryptocurrency adoption cannot be forced”
On September 25, EBC10 kicked off its “biggest edition yet” with Daniel Salmerón and Victoria Gago, two of the founders of EBC, discussing why the world needs cryptocurrencies. The day was followed by a debate between Alireza Siadat (Annerton), Yael Ossowski (Consumer Choice Center) and Vugar Adigozalov (Bidget).
Panelists discussed the industry's slow adoption and the importance of user experience (UX) and self-custody, as Ossowski emphasized. He highlighted the need for “products that people can use every day,” to which Adigozalov responded, pointing out the challenges of privacy in a transparent ecosystem.
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Salmeron And Gago Welcome EBC10's attendees on Day 1.Source: EBC
During the “Will crypto payments be THE killer use case?” On the panel, experts noted that people in developing countries are “more willing” to “tolerate bad” UX to benefit from DeFi, emphasizing the “transformative power” of stablecoins in countries like Nigeria, where finance traditional (TradFi) lack trust.
Zoltan Vardai (Cointelegraph EU) and Eric Demuth (Bitpanda) took the stage together to underline the need for regulatory clarity for the long-term growth of the industry. Demuth also spoke about adoption and explained that it cannot be forced. However, he argued that “when cryptocurrencies become more efficient and cheaper, people will naturally switch.”
Day 2: Blockchain, a “game changer” for sustainability
On September 26, the agenda was full of dialogues between the panelists. Martijn Siebrand (ABN AMRO BANK NV) and Emilie Allaert (Luxembourg Blockchain Lab) had a crucial conversation, led by Laurent Marochini (Société Générale Securities Services).
Panelists discussed Blockchain's role in combating greenwashing, with Allaert highlighting the “revolutionary benefits” of distributed ledger technology (DLT) in preventing it. “With blockchain, you can verify whether companies are actually living up to their sustainability claims,” he said.
In particular, the debate addressed some misconceptions about the energy consumption of Blockchain technology. Allaert noted that new technology has evolved to use 50 times less energy than before and noted that the energy consumption of artificial intelligence (ai) is largely undisputed.
Nirav Bakshi (Blockchain Founders Fund), Sebastian Borget (The Sandbox), Bay Backner (Decentraland) and Pablo Monti (BingX) discussed Web 3 games and their future in an interesting panel. Borget pointed out how players are getting their first nfts and experimenting with blockchain through gaming, as blockchain games become a gateway to Web3.
He highlighted the industry's shift toward empowering the creator economy, which offers a “new approach” to the challenges of traditional web2 games. Meanwhile, Monti underlined the maturity of the sector, moving from the “fever of playing to win” to a service that “supports the gaming industry in general”, surpassing DeFi in daily wallet usage.
Other panels discussed the regulation of digital assets in the United Kingdom, Europe and the United States. Lisa Cameron (House of Commons) passionately called for global regulatory collaboration on Web 3, highlighting the need for tailored solutions across jurisdictions. Cameron also urged regulators to consult and engage with younger generations, highlighting the importance of shaping a beneficial future for the next generation.
The second day of EBC10 also covered infrastructure and collaboration. The discussion, led by Yves-Michel Leporcher (Renault), highlighted the “long-standing challenges” of each blockchain operating independently.
“There is a digital generation and we must ensure that no one is left behind” – Lisa Cameron (House of Commons)
“Institutions are still catching up; ETFs have opened the door, but the best is yet to come” – Elliot Johnson (Evolve ETF).
Total crypto market capitalization is at $2.24 trillion in the 7-day chart. Source: TOTAL on x/tsLfZivJ/" target="_blank" rel="noopener nofollow">TradingView
Bitcoinist chats with a senior Gemini executive about the future of the industry in the Old Continent
During the event, our team at Bitcoinist spoke with Gillian Lynch, CEO of crypto exchange Gemini for Ireland and Europe, about the upcoming MiCA regulation and its potential consequences for the industry and retail consumers.
During the conversation, Lynch highlighted the increase in adoption, stating that the number of cryptocurrency holders in the region has increased from 1 in 10 to 1 in 5 people over the last decade.
This rate could increase further with MiCA, the next package of regulations to be implemented in 2025 to oversee the nascent industry. Upon implementation, crypto exchanges like Gemini, Lynch argued, and their users will finally have clarity.
The new regulatory regime could make the European region the new hub for digital assets, as the United States failed to provide certainty to its crypto sector. Additionally, Lynch told us that the region and crypto players like Gemini will benefit from increased investments as MiCA comes to fruition.
The biggest challenge for Gemini and others will lie in educating their users about MiCA and the new regulatory regime, Lynch told us:
I think the challenge for the industry is to take on regulation and educate people about why it is important (…) so that clients know the difference between a regulated and an unregulated company or exchange and then make an informed decision based in that. (…) I think we have the challenge of truly educating.
Lynch said that to win the educational fight, crypto exchanges would have to rely on many tools, including social media and internal educational programs like Gemini's CryptoPedia.
Next year will be decisive for the European crypto industry as MiCA enters the sector. Its consequences and future consequences, along with the progress of Web3, blockchain and crypto, will be discussed during the European Blockchain Convention and its already announced eleventh edition.
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And that's a summary twitter.com/hashtag/EBC10?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener nofollow”>#EBC10!
What an incredible two days of innovation, networking and innovative ideas. From powerful keynotes to exciting panels and epic hackathon projects, we've seen the future of blockchain take shape before our eyes.
A huge thank you to… pic.twitter.com/OkoGKuwxSu
— European Blockchain Convention (@EBlockchainCon) twitter.com/EBlockchainCon/status/1839346288556446074?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener nofollow”>September 26, 2024
Cover image from Unsplash, chart from TradingView.com
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