New York Blockchain Week 2019 was buzzing with activity, having had 70 main events and over 100 side events from 13th to 15th May; the largest being Consensus 2019. While the number of attendees were down compared to previous years, the events were nonetheless insightful and up to standard in terms of quality, with tech professionals, lawyers, and financiers making the bulk of the attendees. It was especially interesting to see the lack of opportunistic ‘moonkids’ which indicates the industry’s trajectory towards maturity.
Many of the projects I came across during Blockchain Week are focusing significantly on solving the pressing issues that are currently present in the blockchain space, particularly in the realm of enterprise applications and custody payments. I feel that this is an exciting development as we see blockchain pivot towards greater adoption.
Having said that, I was able to attend an event that showcased some of the upcoming trends in stable coins. What interested me in particular were discussions about possible legal frameworks that could be used to facilitate wider adoption of stable coins, especially with regard to fiat, asset, and algorithmic support of these cryptocurrencies. There were likewise a number of interesting projects targeted towards different industries and markets, with some being backed by assets, others by fiat, and a few through algorithm. I look forward to seeing where these developments go from this point onwards.
Alongside various professionals in the field, I also had the pleasure of participating in an event held by Global Digital Finance which discussed the regulatory developments surrounding cryptocurrencies and blockchain. While regulations around the world still have a long way to go, it is clear that regulators in certain jurisdictions are becoming increasingly open and favorable to blockchain technology and the developments that come with it.
To summarize, not only has the crypto market remained resilient through turbulent times, it is showing promising growth as demonstrated during New York Blockchain Week. As adoption is steadily expanding, I am confident that blockchain will continue to redefine the bounds of value and information.