Bitrabo Editorial
The European Blockchain Convention (EBC) recently celebrated its 10th anniversary in Barcelona. This two-day gathering brought together prominent voices in the cryptocurrency sector for insightful discussions about the future of the industry.
During the event, key topics such as digital assets, Decentralized Finance (DeFi), tokenization, Web3, and sustainability were addressed by leading experts, highlighting the changing landscape and regulatory developments affecting the sector globally.
Day 1: “Crypto Adoption Cannot Be Forced”
The event kicked off on September 25 with opening remarks from Daniel Salmeron and Victoria Gago, founders of EBC, who emphasized the necessity of cryptocurrency in today’s world. Their presentation was followed by a panel discussion featuring Alireza Siadat (Annerton), Yael Ossowski (Consumer Choice Center), and Vugar Adigozalov (Bidget).
The panelists examined the slow uptake of cryptocurrencies and the significance of enhancing user experience (UX) and self-custody practices, with Ossowski stressing the need for easily usable products. Adigozalov countered this by pointing out the privacy issues prevalent in transparent ecosystems.
In the panel discussing ‘Will Crypto Payments Be THE Killer Use Case?’, experts indicated that individuals in developing countries are often more willing to accept subpar UX to access DeFi benefits. They underscored the transformative role of stablecoins, especially in nations like Nigeria where trust in traditional finance (TradFi) is minimal.
Zoltan Vardai (Cointelegraph EU) and Eric Demuth (Bitpanda) issued clarion calls for regulatory clarity as essential for the sector’s growth. Demuth expressed that while adoption cannot be artificially imposed, it will occur organically as the efficiency and affordability of cryptocurrencies improve.
Day 2: Blockchain as a “Game-Changer” for Sustainability
The following day, September 26, included a series of engaging discussions among various panelists. A significant conversation, moderated by Laurent Marochini (Société Générale Securities Services), featured insights from Martijn Siebrand (ABN AMRO BANK N.V.) and Emilie Allaert (Luxembourg Blockchain Lab).
The conversation centered on the role of Blockchain in addressing greenwashing, with Allaert underlining how Distributed Ledger Technology (DLT) can verify corporate sustainability claims. She noted, “With blockchain, you can verify if companies are genuinely adhering to their sustainability commitments.”
The panel also elucidated misconceptions regarding Blockchain’s energy use, with Allaert explaining how advancements in technology have led to significant reductions in energy consumption compared to previous iterations. She also recognized that the energy used by Artificial Intelligence (AI) is often overlooked.
A lively panel on Web 3 gaming featured Nirav Bakshi (Blockchain Founders Fund), Sebastian Borget (The Sandbox), Bay Backner (Decentraland), and Pablo Monti (BingX). Borget pointed out that blockchain games are becoming entry points for players to earn their first NFTs and engage with the technology, promoting a more vibrant creator economy that diverges from traditional web2 gaming challenges.
Monti added that the gaming sector is maturing, transitioning from the “play-to-earn” craze to a sustainable model that provides services enhancing the broader gaming landscape, even outpacing DeFi in daily wallet usage.
Other discussions focused on the regulation of digital assets in the UK, Europe, and the US. Lisa Cameron (House of Commons) called for global collaboration on Web 3 regulations, emphasizing the necessity for tailored solutions across different legal frameworks. She also stressed the importance of engaging with the youth to foster a positive future for the next generation.
The theme of infrastructure and collaboration was also prevalent on the second day. Yves-Michel Leporcher (Renault) discussed the challenges faced due to the independent operation of different blockchains.
“There’s a digital generation, and we must ensure no one is left behind” – Lisa Cameron (House of Commons)
“Institutions are still catching up—ETFs have unlocked the door, but the best is yet to come” – Elliot Johnson (Evolve ETFs).
Bitrabo Discusses Industry Future with a Top Gemini Executive
Our team at Bitrabo had a conversation with Gillian Lynch, the CEO of the cryptocurrency exchange Gemini for Europe and Ireland, addressing future MiCA regulations and their implications for the industry and retail users.
Lynch observed a surge in crypto adoption, noting that the percentage of crypto holders in Europe has risen from 10% to 20% over the past ten years. She forecasts that this trend could continue as MiCA, a regulatory package set for 2025, rolls out to oversee the industry. She emphasized that once implemented, exchanges like Gemini will offer much-needed clarity to users.
According to Lynch, MiCA could position Europe as a new digital assets hub, especially as the US struggles to provide regulatory certainty. Furthermore, with MiCA’s adoption, a significant influx of investments into the region and companies like Gemini can be expected.
The real challenge for Gemini and similar companies will be educating users on MiCA and the new regulatory landscape, she asserted:
“I believe challenging the industry means educating consumers on the significance of regulations…so they can distinguish between regulated and unregulated entities and make informed decisions. We have to prioritize education.”
Lynch mentioned that to succeed in this educational effort, crypto exchanges should leverage various tools, such as social media and proprietary educational programs like Gemini’s CryptoPedia.
The forthcoming year is crucial for the European crypto landscape, as the MiCA framework unfolds. The forthcoming impacts and future developments regarding Web3, blockchain, and crypto will continually be highlighted in the upcoming European Blockchain Convention and its 11th edition.
And that’s a wrap on #EBC10!
We experienced two incredible days filled with innovation, networking opportunities, and transformative ideas. From impactful keynotes to exciting panel discussions and innovative hackathon projects, we’ve witnessed the blockchain future take shape.
Special thanks to everyone who made this event unforgettable! pic.twitter.com/OkoGKuwxSu
— European Blockchain Convention (@EBlockchainCon) September 26, 2024
