Interview with the Director of the World Blockchain Summit By CoinEdition
Sharath Kumar, the director of Trescon, is an expert in sales and business development in the field of event management. As someone who is passionate about exploring new opportunities and building successful ventures, Kumar made his foray into the crypto space with the Blockchain Business Conference in 2017. He used his expertise in event organization to launch the World Blockchain Summit.
Kumar looks at blockchain technology and the crypto industry from his optimistic lens, seeing a bright future and exponential growth for the industry. As such, he endeavors to nurture startups and novice projects by linking these entities with industry experts in an effort to give them the necessary exposure and knowledge. Moreover, he believes that bringing the crypto and blockchain industries together through summits builds community and promotes adoption and trust.
Can you tell us a bit about yourself?
I have spent a significant part of my career in sales and business development, particularly in the events industry. My expertise lies in sales for conferences, exhibitions and fairs, and I have been directly involved in strategy work and the construction of many large events all over the world.
Having said that, my interest in Blockchain and Crypto was piqued in 2017 and this led to the launch of the World Blockchain Summit in my capacity as Director of Sales at Trescon. Since then, I have helped build the brand and take the World Blockchain Summit organized by Trescon, to new heights by expanding it to 11 different countries.
My passion for exploring new opportunities and building successful businesses has allowed me to make significant contributions to events and the crypto industry.
As the Director of Sales for the World Blockchain Summit, can you tell us what challenges you faced while hosting the event?
The challenges varied based on the nature, size and location of the event. However, our goal was always to create a meaningful event experience that attracts and retains the right attendees while providing valuable networking and learning opportunities.
In particular, some of the first challenges we faced in the period 2017-18 were a need for more awareness and understanding of blockchain technology. During this period, many people needed to familiarize themselves with blockchain and cryptocurrency technology, which made it challenging to attract participants and sponsors to the event.
Nevertheless, we managed well in these turbulent times. We made our big foray into this market by taking on the government mandate to host India’s first and largest event on blockchain, called the Blockchain Business Conference, in 2017.
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We then launched our own IP, called the World Blockchain Summit, in Dubai, and the rest is history. Since then, one of the biggest challenges has been the market’s uncertainty and compliance with constantly changing regulations. Despite these challenges, I am happy to see where we are today.
While securing high-profile speakers with subject matter expertise is always challenging, we were able to attract these domain experts and host over 30,000 visitors along with thousands of pre-qualified investors in over 11 countries.
What is your opinion on the blockchain and crypto space here in Dubai?
The government of Dubai is committed to blockchain technology and all future technology for that matter. It has taken steps to create a friendly environment for blockchain startups. In addition, several blockchain and cryptocurrency companies and exchanges are based in Dubai. The city has hosted several blockchain and crypto-related conferences and events, making the country a hotbed for all things blockchain and cryptocurrency.
Over the past five years, sectors that would reap the benefits of blockchain have quadrupled, and most of them see this technology as a game-changer. In this regard, Dubai leapfrogs some of the most developed countries such as Singapore. Even at a faster pace than many pundits and gurus would have imagined.
How important do you think community building is in an industry like crypto?
Community building is essential as it fosters adoption and a sense of trust, which are the core principles of blockchain. Building a community helps establish trust in a system since community members are better able to provide accurate and reliable information about it than outside sources.
A strong community can also prevent false information and rumours, which can be crucial in a highly speculative and volatile market such as the cryptocurrency sector. Additionally, they can help promote these ideas across the wider industry when the community is built on shared beliefs and ideals.
How important is an event like Trescon WBS to upcoming crypto projects?
Emerging cryptocurrency ventures can find opportunities like WBS (World Blockchain Summit) to gain attention, validate their projects, connect with potential partners and investors, and build brand recognition. Participation in our global series of business events allows a project to present its technology, mission and product or service to a significant and focused group of pre-qualified investors, decision-makers and decision-makers.
This can be particularly useful for early-stage projects that are still trying to develop their offerings by gaining validation and adoption. Events like WBS can also allow new crypto projects to network with other industry members and potential collaborators. This may include potential supporters, business associates and initiatives with similar technologies or goals.
Viewed in a broader context, the WBS can be an important way to stay up-to-date on the latest advancements and trends in the cryptocurrency industry. This is important because the cryptocurrency sector moves quickly, and technology and trends can shift quickly.
As you know, the blockchain area is very dynamic. What do you think is the future of this industry?
Suppose you compare blockchain to other technologies that have emerged in the last 20 years. If so, blockchain is still relatively new, and its future is even more challenging to predict. Blockchain technology, on the other hand, has the potential to make a significant impact and be widely adopted in the future in multiple domains.
I am not a domain or technology expert, but creating decentralized, open and secure financial systems is one of the most promising applications for blockchain technology in the financial sector. Through our events, we have understood how Blockchain-based systems can enable smart contracts, new financial services and faster and cheaper cross-border transactions.
This can cause (and may already be causing) a disruption in the traditional banking systems and initiate the development of alternative financial services.
Although this technology is nascent, I see huge potential in supply chain management, identity management and voice systems. The future of the blockchain sector is likely to be defined by continued technological advancements, legislative changes, and advancements in other related fields such as artificial intelligence (AI), the Internet of Things (IoT), etc.
In general, the blockchain sector has a bright future and technology can significantly change and advance several businesses.
What new technology excites you?
ChatGPT comes to mind when I think of technologies that excite me today. Natural Language Processing (NLP) enables systems like ChatGPT to understand and respond to human speech and text with increasing accuracy. I’ve read that this will get crazier in the future, and traditional search engines like Google (NASDAQ:GOOGL) and Bing are already feeling threatened.
Apart from this, I get excited about all the technology that makes our life easier. That’s exactly why we have so many of them, right? I love how they can improve productivity and solve social problems.
As you are aware, there have been several negative developments in the industry. In relation to this, what do you think is the importance of regulation in the crypto space?
Regulations are essential for widespread use across companies and consumer markets. While many in the industry are resistant to the idea due to past experiences from other industries, proper regulations are a cornerstone to safeguarding the interests of individuals and companies against bad actors.
This is one of the reasons why we actively work with public entities at each of our events to help enable dialogue and collaboration so that the ecosystem can grow and develop together.
Is Trescon WBS preparing for new projects? Are there any projects or areas you plan to focus on?
Yes, we are actively looking to expand our business and gain a foothold in the markets we have already entered and enter new markets such as the UK and North America. In 2023, WBS has a line-up of 9 editions taking place in 6 countries that will focus on a wide range of topics under the web3 umbrella, starting with the World Blockchain Summit in Dubai on 19-21. March at Atlantis the Palm.
How do you see the future of Trescon WBS towards projects?
A core part of our mission is to help founders and projects gain access to qualified investors and corporate stakeholders, and is actively working to provide additional support services designed to help achieve this goal. We will leverage all of our deep-rooted relationships in the industry to help our customers continue to grow and thrive in the ecosystem and promote the widespread growth and adoption of blockchain and web3 technologies.
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