Consensus, the annual crypto and blockchain convention, attracted over 15,000 attendees, 220 sponsors and 410 audio system to its 2023 version in Austin, Texas, despite recent regulatory struggles round cryptocurrency adoption in america.
The turnout at Consensus 2023 demonstrated that U.S.-based firms and worldwide organizations are nonetheless very a lot thinking about implementing Web3 expertise into their enterprise fashions.
Caitlin Lengthy, founder and CEO of Custodia Financial institution — a Wyoming-based digital asset financial institution — informed Cointelegraph that the convention attracted severe ecosystem individuals, saying, “We’ve seen throughout crypto winters earlier than the place Consensus will get overrun with excessive time desire individuals and corporations (for instance, a number of Lambo’s parked out entrance of the New York Hilton in 2018), and in bust years the low-time desire individuals and corporations simply maintain constructing. This 12 months was the latter.”
ADIOS AUSTIN! This was my fave #Consensus conf since 2017—by my guess it had the very best % in attendance of fellow “low-time desire peeps on principled missions” since that 12 months. Large due to everybody who confirmed your assist—it was like an ideal huge heat hug! Protected dwelling! pic.twitter.com/NOPmU03VAV
— Caitlin Lengthy ⚡️ (@CaitlinLong_) April 29, 2023
Companies talk about Web3 methods
A number of massive organizations had been current at Consensus 2023, with Mastercard, Google, Robinhood and Coinbase, amongst others, gathering to debate their Web3 methods.
James Tromans, head of Web3 at Google Cloud, informed Cointelegraph about some blockchain-based initiatives the corporate has not too long ago launched.
“On the finish of final 12 months, Google Cloud introduced Blockchain Node Engine, which permits customers and builders to run an Ethereum node with out having to handle or assist it themselves,” he mentioned.
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At Consensus, the agency introduced that it had expanded assist for the Blockchain Node Engine to Polygon proof-of-stake, along with Ethereum.
Tromans added that Google Cloud is aware of what Polygon has been doing in the zero-knowledge (ZK) space, noting that Polygon ZK Ethereum digital machines (zkEVM) and Polygon supernets will profit from the availability of Google Cloud’s infrastructure and developer instruments.
Furthermore, Tromans identified that Google Cloud’s startup program will assist onboard firms thinking about constructing on Web3 utilizing present Google Cloud merchandise. “Polygon is a vital a part of this initiative, as they’ve supplied a $3 million contribution from their enterprise fund to get this off the bottom with us,” he mentioned.
World monetary companies large Mastercard introduced its “Mastercard Crypto Credential” solution during Consensus. Raj Dhamodharan, head of crypto and blockchain at Mastercard, said throughout a hearth dialogue at Consensus that he’s “excited in regards to the underlying potential of blockchain expertise” because of its capacity to retailer and transfer worth seamlessly.
Nevertheless, Dhamodharan defined that “this potential will not be totally realized right this moment,” so Mastercard has began engaged on a number of merchandise like Mastercard Crypto Credential.
“I consider that after you have the suitable constructing blocks obligatory for security and ease, you’ll be able to have extra companies constructing and counting on the essential utility of storing and shifting worth,” Dhamodharan mentioned on stage.
Conversations continued at aspect occasions
Whereas there have been 10 devoted levels for 285 panels throughout Consensus, many aspect occasions allowed necessary conversations to proceed exterior of the convention.
For instance, zero-knowledge proofs (ZK-proofs) had been broadly mentioned at Consensus, however in-depth conversations round ZK-proofs happened on the “ZK360” occasion hosted by Mina Protocol. Evan Shapiro, CEO of the Mina Basis and co-founder of the Mina Protocol, informed Cointelegraph that the purpose of ZK360 was for attendees to study in regards to the newest developments in ZK-proofs and the way these will be utilized in the true world. “Web3 wants each privateness and verified computation. ZK-proofs present each of these at a time when purposes are needing these options to be more practical, decentralized and scalable,” he mentioned.
Different layer-1 blockchain networks like Ripple and Algorand hosted aspect occasions, permitting Consensus attendees to raised perceive particular blockchain choices whereas networking with neighborhood members. These occasions additionally offered a chance for non-Consensus attendees to find out about necessary subjects inside the Web3 sector.
Missing a world presence
Whereas the turnout throughout Consensus 2023 was notable, some business specialists highlighted that the convention lacked a world presence.
Yat Siu, chairman of Animoca Manufacturers — a enterprise capital firm centered on blockchain-based video games — informed Cointelegraph that areas in Asia like Japan and Hong Kong are providing a progressive and welcoming regulatory setting for crypto adoption. He famous that most individuals he spoke with at Consensus appeared stunned and even skeptical at this. He mentioned:
“I believe {that a} bigger presence of abroad individuals would have helped enable Consensus individuals to raised perceive the scope of pleasure and alternative that exists exterior of america. I might like to see a stronger worldwide presence at Consensus subsequent 12 months.”
Regardless of this, Siu mentioned that Consensus 2023 was a well-attended, high-energy convention general. “I used to be stunned on the stage of deal-making exercise that was going down, even when the narrative was that the U.S. was unfavourable on crypto,” he mentioned.
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Echoing Siu was Keith Grossman, president of enterprise at MoonPay. He informed Cointelegraph that he was impressed to see so many executives from among the largest firms in attendance at Consensus. “Offers had been being mentioned, and I consider we are going to look again at Consensus 2023 recognizing it represented a maturation within the business because it pertains to how Web3 applied sciences will be deployed in a significant method for companies and their prospects.”