Highlights and Trends from Consensus 2023
The annual Consensus crypto conference, which has been hosted by Coindesk since 2015, concluded successfully in Austin from April 26 to 28. As a major event in the crypto industry, the conference drew the attention of industry leaders, developers, KOLs, government officials, artists, and more. As one of the important indicators of the crypto market, this year’s Consensus conference exhibited noteworthy highlights and trends that are worthy of attention, underscoring its importance as a barometer of the crypto market.
Regulation: Urgent Need for Regulatory Clarity
The former Chairman of the CFTC criticized the U.S. regulatory agencies’ oppression of the crypto industry. He stated that regulatory agencies can successfully participate in the crypto market and that clear regulation can help the next generation of Web3 consumers join. However, unclear regulation is currently the biggest problem facing the Web3 and NFT ecosystems. Many brands have already developed Web3 and NFT ecosystems, such as Reddit, Starbucks, Nike, Adidas, and PepsiCo, but the issue of unclear regulation still needs to be addressed in the future.
Stablecoins
The CEO of Circle stated that after the US banking crisis in March, USDC has become stronger and safer, upgrading its market infrastructure to become the most powerful and secure digital dollar. Meanwhile, Circle announced the launch of a cross-chain transfer protocol based on Ethereum and Avalanche for developers to use.
NFTs and Metaverse
NFT royalties have added value to the basic premise of proving digital asset ownership, providing value for creators, collectors, and investors. Creators can think more deeply about their artwork, creating better and more valuable pieces. However, games and the metaverse lack regulatory clarity as many regulatory agencies focus on regulating crypto assets and not NFTs and gaming.
DeFi and CeFi
The core difference between CeFi and DeFi is “self-custody.” CeFi may still be the main way for traditional financial customers and users to adopt digital assets because it is easier to adapt to securities, commodities, or banking law. Although DeFi has its shortcomings, it will eventually become the main infrastructure of the financial system in the future, and CeFi will play a transitional role in this richer DeFi environment.
Risk-weighted assets (RWA)
The WisdomTree CEO stated that blockchain technology can allow investors to purchase government bonds with additional functions, which will be beneficial to mainstream users.
Web3
Salesforce Web3’s Marc Mathieu stated that Web3 has the potential for mass adoption, but it requires rebuilding a community around decentralization and other values. It is not just a technology, but also fits the values of the new generation.
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