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 america.
The turnout at Consensus 2023 demonstrated that U.S.-based corporations and worldwide organizations are nonetheless very a lot fascinated with implementing Web3 know-how 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 critical ecosystem members, saying, “We’ve seen throughout crypto winters earlier than the place Consensus will get overrun with excessive time desire folks 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 folks and corporations simply maintain constructing. This yr was the latter.”
ADIOS AUSTIN! This was my fave #Consensus conf since 2017—by my guess it had the best % in attendance of fellow “low-time desire peeps on principled missions” since that yr. Big due to everybody who confirmed your assist—it was like a fantastic huge heat hug! Secure dwelling! pic.twitter.com/NOPmU03VAV
— Caitlin Lengthy ⚡️ (@CaitlinLong_) April 29, 2023
Companies focus on 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 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 stated.
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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) house, 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 corporations fascinated with constructing on Web3 utilizing present Google Cloud merchandise. “Polygon is a crucial 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 stated.
World monetary companies big Mastercard introduced its “Mastercard Crypto Credential” answer throughout Consensus. Raj Dhamodharan, head of crypto and blockchain at Mastercard, acknowledged throughout a hearth dialogue at Consensus that he’s “excited in regards to the underlying potential of blockchain know-how” on account of its means to retailer and transfer worth seamlessly.
Nevertheless, Dhamodharan defined that “this potential is just not absolutely realized at present,” so Mastercard has began engaged on a number of merchandise like Mastercard Crypto Credential.
“I consider that after you have the suitable constructing blocks crucial for security and ease, you possibly can have extra companies constructing and counting on the fundamental utility of storing and transferring worth,” Dhamodharan stated on stage.
Conversations continued at aspect occasions
Whereas there have been 10 devoted phases 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 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 objective of ZK360 was for attendees to be taught in regards to the newest developments in ZK-proofs and the way these will be utilized in the actual 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 stated.
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 offered a possibility for non-Consensus attendees to study necessary subjects inside the Web3 sector.
Missing a global presence
Whereas the turnout throughout Consensus 2023 was notable, some trade consultants highlighted that the convention lacked a global 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 atmosphere for crypto adoption. He famous that most individuals he spoke with at Consensus appeared stunned and even skeptical at this. He stated:
“I believe {that a} bigger presence of abroad members would have helped enable Consensus members to raised perceive the scope of pleasure and alternative that exists exterior of america. I’d like to see a stronger worldwide presence at Consensus subsequent yr.”
Regardless of this, Siu stated that Consensus 2023 was a well-attended, high-energy convention general. “I used to be stunned on the degree of deal-making exercise that was happening, even when the narrative was that the U.S. was destructive on crypto,” he stated.
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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 a few of the largest corporations in attendance at Consensus. “Offers had been being mentioned, and I consider we’ll look again at Consensus 2023 recognizing it represented a maturation within the trade because it pertains to how Web3 applied sciences will be deployed in a significant method for companies and their clients.”
