In a bustling month filled with insightful events, we attended three significant conferences: Paris Blockchain Week, Token2049, and Money2020. Each of these gatherings offered a unique perspective on the current state and trajectory of the crypto and fintech industries. Here, I share some key observations from these conferences, highlighting trends and shifts that are shaping the future of these sectors.

Paris Blockchain Week: A Shift Towards Tokenization and Practical Crypto Uses

Paris Blockchain Week showcased a noticeable shift in focus within the European crypto scene. The fading presence of Web3 initiatives was stark, with fewer booths dedicated to this once-dominant trend.

Instead, tokenization has emerged as the new area of interest, suggesting a move towards more tangible and practical applications of blockchain technology. In fact, a report by BCG suggests that tokenized deposits (in addition to other mediums of exchange) could potentially add an additional HK$160 billion of GDP for Hong Kong by 2032.

Another significant observation was the increased emphasis on integrating cryptocurrency with traditional businesses. This was evident from the proliferation of crypto payment-related services. It seems the industry is striving to find real-world applications for cryptocurrencies, beyond mere speculative trading.

Interestingly, centralized exchanges (CEXs) were largely absent from the event. This could signal a consolidation in the CEX market or a strategic withdrawal from these types of public engagements.

The regulatory landscape for cryptocurrencies and exchanges is also growing more complex and demanding. CEXs might be choosing to focus their resources on enhancing internal compliance and security measures, rather than participating in public events.

Alternatively, this withdrawal could be a strategic move to avoid public scrutiny or negative publicity, especially in periods of heightened regulatory attention.

Token2049: The Festival of Crypto

Token2049 was the largest of the events we attended, resembling more of a festival than a conventional conference. Despite experiencing a flood, the event saw unprecedented attendance, underscoring the high interest and enthusiasm surrounding crypto.

Like Paris, Token2049 also witnessed a decline in Web3 projects, with a greater focus on payment services. This could possibly be due to the reasons outlined here, such as the lack of a real-world use case (web3 is seen as a white elephant in other words), and the uncertainty of cryptocurrency.

The crowd's engagement level was high, with many attendees having a clear understanding of the exhibitors' offerings, showing a matured interest rather than mere curiosity.

We also noted the reduced presence of CEXs, which reduces the likelihood that what we saw at Paris Blockchain Week was a fluke.

Money2020: Traditional Fintech's AI and Crypto Skepticism

Money2020 provided a contrast to the crypto-centric events, with a strong emphasis on traditional fintech and emerging AI technologies. AI's role in fintech, particularly in predicting financial behaviors and qualifying individuals for financial services, was a central theme. This indicates a growing trend where fintech solutions are increasingly AI-driven, capturing significant attention.

The crypto discussions here were met with a degree of skepticism from traditional financial sectors, though there was an acknowledgment of the steady growth of the crypto market in regions like Thailand.

We were thrilled with what we saw here because the CoinsDo suite is well-positioned to capitalize on these trends. Our platform offers a transparent, straightforward approach that does not rely on complex AI algorithms, which can sometimes obscure decision-making processes and alienate users who are skeptical of AI's black-box nature. Instead, we emphasize clarity and simplicity, making our tools accessible and easily understandable, thus building trust with users who may be wary of newer technologies.

Additionally, the skepticism towards cryptocurrencies in traditional financial sectors is another area where our solution is well-positioned. By providing a robust and secure platform, we address common concerns around security and volatility that often accompany discussions about crypto.

Summary: A Maturing Crypto Market

Across these conferences, a common theme was the maturation of the crypto market. The diminishing presence of speculative Web3 projects in favor of more established, practical applications suggests a significant evolution. Established corporations are now more prevalent even in startup areas, reflecting a broader acceptance and integration of crypto technologies in mainstream sectors.

Moreover, there is a better understanding and familiarity with key concepts such as Multi-Party Computation (MPC) among participants. The non-custodial approach, once a novelty, is now a well-understood aspect of crypto security. The challenge moving forward is no longer about educating the market but rather capturing a larger share of the expanding industry.

The journey from novelty to normalization seems well underway, with promising prospects for those ready to adapt and innovate.