Paris is known for its romance, fashion, and art, but for a week in March it was also the epicenter of the blockchain world.
Paris Blockchain Week 2023 (PBW 2023) brought together some of the brightest minds and influential voices in the crypto industry to discuss and debate the current state and future prospects of the decentralized ecosystem.
The Avengers of Crypto on Stage
One of the highlights of PBW 2023 was the panel discussion titled “State of the Chain 2023” moderated by Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr.
The panel featured five experts from different sectors of the blockchain space:
- Ryan Nitz, the head of solutions architecture at Coinbase;
- Matthew Savarese, the head of strategy at Nasdaq Digital Assets;
- Rich Widmann, the head of strategy for Web3 at Google;
- Dante Disparte, the chief strategy officer and head of global policy at Circle;
- and Denelle Dixon, the CEO of Stellar Development Foundation.
Takeaways from the Panel Discussion
The panelists shared their insights on the current state of the Web3 space and their predictions on how 2023 would evolve. Here are some of the key takeaways from the panel discussion:
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The state of blockchain is not strong, but innovation is happening. Disparte expressed his belief that the chain’s current state is “not strong” due to the recent challenges and failures in the industry, such as the FTX bankruptcy, the USDC collapse, and the bank crisis. However, people will continue building and developing amid these challenges. He compared the current situation to past tech and financial industry failures that led to innovation and reform.
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Web2 brands are getting involved in Web3 and crypto. Nitz shared that Coinbase is trying its best to help onboard Web2 companies and eliminate the complexity barrier. Web2 brands are evolving and starting getting involved in Web3 and crypto, such as Twitter, Reddit, Shopify, and Spotify.
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Web3 is the next evolution of the internet. Widmann emphasized that Google is supporting Web3 as a way to build value for users in the next evolution of the internet. Google is providing cloud infrastructure, data analytics, machine learning, and artificial intelligence for Web3 applications. Additionally, Google is exploring how to leverage blockchain technology for its own products and services.
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Nasdaq is using blockchain to enhance its core business. Savarese revealed that Nasdaq is using blockchain technology as a way to enhance its core business of providing market infrastructure, data, and analytics for capital markets. It is integrating blockchain technology into its existing platforms, such as Nasdaq Private Market and Nasdaq Linq. Nasdaq is collaborating with other industry players to create standards and best practices for blockchain adoption.
In Conclusion
The future of the blockchain is bright, despite the current challenges and setbacks.
The panelists showed that there is a lot of innovation, collaboration, and value creation happening in the Web3 space, across different sectors and domains.
- Blockchain technology is not only transforming the way we exchange value, but also the way we build and interact with the internet.
- Blockchain technology is not a threat to the traditional financial system, but a complement and an enhancement. Blockchain technology can offer more efficiency, transparency, security, and inclusion for both institutions and individuals.
- We’ve got a glimpse of what to expect in 2023, such as more Web2 involvement, more Web3 applications, more blockchain integration, and more cross-border payments.
- Blockchain technology is still evolving and maturing, and we need to be patient and resilient in the face of adversity.
- We need to keep learning and building together, as a community and as an industry, to shape the future of finance and the Web3 economy.
If you’re feeling inspired by PBW 2023, you can also check out some of the upcoming events in the crypto industry, such as Consensus 2023, EthCC 2023, or Devcon 7.
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