What a week in Austin for Consensus 2024. Leading up to it, the approval of spot Ether ETFs, the repeal (and subsequent veto!) of SAB-121 and the US House passing the FIT21 bill set the stage for a big week in Bat City. Here are my key takeaways from Consensus: User experience is improving: - dApps are becoming easier to use and offer better economic incentives for participation. Exciting consumer categories like wireless service, ridesharing, and gaming are showing great potential for mainstream adoption. Interoperability is everything: - Cross-chain interactions and integrations are creating a more connected ecosystem, allowing seamless data movement between networks. This is a crucial step, arguably the most critical, toward a truly decentralized web Wallets are levelling up: - Users want multi-chain wallets with intuitive management and digital asset transfer capabilities. There are more wallet solutions than ever, most focused on enhancing UX and accessibility across multiple blockchain networks. L1 scalability and performance: - Significant advancements in sharding, rollups, and consensus mechanisms have greatly increased blockchain throughput and reduced latency, and is poised for continued improvement in 2024. Stablecoins: - Continues to be a significant area of discussion, reflecting their unrivaled importance in the crypto ecosystem. Current stablecoin market cap is hovering around ~$160B with many expecting this figure to grow at least 10x over the coming years. The institutions are here: - There was a significant presence from major institutions with a keen interest in tokenization of RWAs. Institutional tokenization use cases was a recurring theme throughout the entire week. Lastly, HUGE thank you to all the teams that hosted private events throughout the week (including our KPMG x Amberdata pre-consensus dinner!), namely Baker McKenzie, Chainlink, Liquid Collective, Blockdaemon, The Arbitrum Foundation, and many more. Can’t wait for Consensus 2025 in Toronto! Kunal Bhasin MBA, CISA, CBP, CCI Kareem Sadek, CIA, CISA, PMP, CRISC, CRMA James Emerson, CPA, MSc Kaan Farahani Emily Zhao, CPA Jordan Pivato Gregory Genega Sarah Donofrio, CPA Karim Hamasni Felipe Priuli Evan Weiss Matt Leisinger Usman Sheikh Connor Loewen Max Solomons
Thanks for sharing these great insights George!
Was great to see you and catch up George!
Digital Media, Tech, Telecom and Web3 Business Development Executive
2moGreat summary.