A net positive for the entire crypto industry

The major annual blockchain event, Paris Blockchain Week, brought together some of the biggest names in the blockchain and crypto industry in 2023. The three-day event that started on March 21 turned out to be a net positive for the crypto industry as prominent industry players came together to discuss and share their thoughts on the past, present and future of the decentralized ecosystem.

The Cointelegraph team was on the ground to bring readers some of the behind-the-scenes, exclusive interviews, insightful video snippets from industry experts and more. Cointelegraph editor-in-chief Kristina Lucrezia Cornèr, video director Jackson DuMont and reporter Joseph Hall were tasked with giving readers a bird’s-eye view of the event.

The father of the metaverse reflects on the industry today

Even before the main event started on March 21, the Cointelegraph team got in touch with Neal Stephenson, an American author who coined the term metaverse in the 1990s. Cointelegraph Editor-in-Chief sat down with Stephenson to reflect on the meaning of the word in today’s world.

Stephenson said the meaning of the word has definitely changed in today’s terms. While reflecting on the failure of the metaverse to see mass adoption and very few takers in the bear market, he said that people and companies are skipping the important steps of building an economy first.

The first day of the event started on March 21 and proved to be quite an eventful one. The opening speech of Ethereum co-founder Joseph Lubin reflected on the growing demand for Web3-based payment infrastructure and the need for a decentralized solution in the traditional financial ecosystem.

Industry experts debate the potential impact of MiCA

Among many expert panels during the day, the one that caught everyone’s attention was a discussion on the implications and potential impacts of the EU’s markets for crypto-assets (MiCA).

Experts on the panel unanimously agreed that the upcoming regulations would be a general help for the EU’s crypto industry. It would set a certain standard that could potentially be used by other nations in the future. Janet Ho, Head of EU Policy at Chainalysis, emphasized the need for a review of the implementation and obligations of the Act, and consider feedback from public oversight and industry participants.

Tim Draper has a poem about the current banking crisis with a Bitcoin kick

American venture capital investor Tim Draper took the stage at Paris Blockchain Week 2023 to talk about decentralization and the future of money. Draper addressed the ongoing banking crisis and promoted Bitcoin to be the true hedge of capital. An excerpt from his keynote speech:

“They have shaken our confidence in the banking system. […] What a really strong leader would do is build trust back. Trust the banks that are now left and set them free.”

He also sang a Bitcoin song that he had written four years ago, but thinks was more relevant in today’s time.

No shortage of passion in the Parisian people despite an ongoing nationwide protest

PBW 2023 had no shortage of enthusiasm or energy despite the host seeing nationwide protests after the government pushed the national retirement age from 62 to 64. Cointelegraph reported that Joesph Hall spoke with CEO of Animoca Brands Robby Yung.

Yung said the local government had extended a “warm embrace” to crypto and blockchain enthusiasts amid a sea of ​​protests. He told Cointelegraph:

“Everything that’s going on out there is why we’re here to begin with […] The reason we decided that decentralization was a better way of doing things was precisely because of our concern about what could happen in the financial sector, which continues to be confirmed.”

The second day of the event was equally packed and full of energy with the Cointelegraph team on the front lines bringing the latest update. The first major panel discussion was about the complicated relationship between ethics in Web3. Industry experts took to the stage to discuss how current innovations will shape the future of ethics in Web3. Loic Brotons, CEO of Galeon, said that mixing innovation and ethics is a bit complicated and explained:

“Usually innovation comes first, and sometimes we have really bad things happen. After that comes ethics because we look at what the innovation has done.”

The collapse of banks is a “crash course for Bitcoin”

Cointelegraph journalist Hall sat down with Ledger CEO Pascal Gauthier to get his take on what the current banking crisis is teaching us. He said the latest series of events shows how BTC can be a safe haven against the threat of central government.

“Bitcoin was designed as a reaction to Lehman Brothers in the 2008 crisis. It was designed because you can’t trust central governments. And it’s designed because it’s clear that central governments will fail. It’s not a question of. It’s more a matter of when.” Gauthier added.

Don’t trust anyone, verify: 1Tommer co-founder

In another exclusive interview with Cointelegraph, 1inch Network co-founder Sergej Kunz reflected on the need for self-storage. He said the FTX saga helped people understand the importance of self-storage and the current banking crisis only highlights the importance further.

He also talked about the reasons behind a limited mass adoption of crypto and said that people’s understanding and education would be the key to achieving this.

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