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, regardless of latest regulatory struggles round cryptocurrency adoption in the USA.
The turnout at Consensus 2023 demonstrated that U.S.-based firms and worldwide organizations are nonetheless very a lot keen on implementing Web3 know-how into their enterprise fashions.
Caitlin Lengthy, founder and CEO of Custodia Financial institution — a Wyoming-based digital asset financial institution — advised Cointelegraph that the convention attracted severe ecosystem contributors, saying, “We’ve seen throughout crypto winters earlier than the place Consensus will get overrun with excessive time desire folks and firms (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 folks and firms simply preserve constructing. This yr 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 yr. Large because of everybody who confirmed your assist—it was like a terrific massive heat hug! Secure dwelling! pic.twitter.com/NOPmU03VAV
— Caitlin Lengthy ⚡️ (@CaitlinLong_) April 29, 2023
Companies talk about Web3 methods
A number of giant 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, advised Cointelegraph about some blockchain-based initiatives the corporate has just lately launched.
“On the finish of final yr, 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 within the zero-knowledge (ZK) area, noting that Polygon ZK Ethereum digital machines (zkEVM) and Polygon supernets will profit from the supply of Google Cloud’s infrastructure and developer instruments.
Furthermore, Tromans identified that Google Cloud’s startup program will assist onboard firms keen on constructing on Web3 utilizing present Google Cloud merchandise. “Polygon is a vital a part of this initiative, as they’ve offered a $3 million contribution from their enterprise fund to get this off the bottom with us,” he mentioned.
International monetary companies big Mastercard introduced its “Mastercard Crypto Credential” resolution throughout Consensus. Raj Dhamodharan, head of crypto and blockchain at Mastercard, acknowledged throughout a hearth dialogue at Consensus that he’s “excited concerning the underlying potential of blockchain know-how” as a consequence of its potential to retailer and transfer worth seamlessly.
Nevertheless, Dhamodharan defined that “this potential shouldn’t be totally realized right this moment,” so Mastercard has began engaged on a number of merchandise like Mastercard Crypto Credential.
“I imagine that after getting the suitable constructing blocks obligatory for security and ease, you possibly can have extra companies constructing and counting on the fundamental utility of storing and transferring 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 essential 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 occurred on the “ZK360” occasion hosted by Mina Protocol. Evan Shapiro, CEO of the Mina Basis and co-founder of the Mina Protocol, advised Cointelegraph that the aim of ZK360 was for attendees to study concerning the newest developments in ZK-proofs and the way these could 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 simpler, 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 study essential 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 targeted on blockchain-based video games — advised Cointelegraph that areas in Asia like Japan and Hong Kong are providing a progressive and welcoming regulatory atmosphere 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 contributors would have helped enable Consensus contributors to raised perceive the scope of pleasure and alternative that exists exterior of the USA. I’d like to see a stronger worldwide presence at Consensus subsequent yr.”
Regardless of this, Siu mentioned that Consensus 2023 was a well-attended, high-energy convention total. “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 detrimental on crypto,” he mentioned.
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Echoing Siu was Keith Grossman, president of enterprise at MoonPay. He advised Cointelegraph that he was impressed to see so many executives from a few of the largest firms in attendance at Consensus. “Offers had been being mentioned, and I imagine we’ll look again at Consensus 2023 recognizing it represented a maturation within the business because it pertains to how Web3 applied sciences could be deployed in a significant method for companies and their prospects.”
