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 current regulatory struggles round cryptocurrency adoption in the US.
The turnout at Consensus 2023 demonstrated that U.S.-based corporations and worldwide organizations are nonetheless very a lot all in favour of 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 contributors, 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 a terrific large heat hug! Protected 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, informed Cointelegraph about some blockchain-based initiatives the corporate has lately 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 within the zero-knowledge (ZK) area, 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 corporations all in favour of constructing on Web3 utilizing current 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 large 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 expertise” attributable to its means to retailer and transfer worth seamlessly.
Nevertheless, Dhamodharan defined that “this potential just isn’t absolutely realized right this moment,” so Mastercard has began engaged on a number of merchandise like Mastercard Crypto Credential.
“I imagine that upon getting the appropriate constructing blocks needed for security and ease, you may have extra companies constructing and counting on the fundamental 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 extensively mentioned at Consensus, however in-depth conversations round ZK-proofs befell 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 be taught concerning the newest developments in ZK-proofs and the way these might be utilized in the true world. “Web3 wants each privateness and verified computation. ZK-proofs present each of these at a time when functions 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 group members. These occasions additionally introduced a chance for non-Consensus attendees to find out about necessary matters inside the Web3 sector.
Missing a world presence
Whereas the turnout throughout Consensus 2023 was notable, some business consultants highlighted that the convention lacked a world presence.
Yat Siu, chairman of Animoca Manufacturers — a enterprise capital firm targeted on blockchain-based video games — informed Cointelegraph that areas in Asia like Japan and Hong Kong are providing a progressive and welcoming regulatory surroundings for crypto adoption. He famous that most individuals he spoke with at Consensus appeared shocked 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 US. 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 shocked on the stage of deal-making exercise that was going down, even when the narrative was that the U.S. was unfavorable 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 corporations 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 might be deployed in a significant method for companies and their prospects.”