September 29, 2022
By Tsering Namgyal
Global crypto fans gathered together in Singapore in a show of bullishness, indicating that the crypto markets are alive and well despite being ravaged by the so-called crypto winter.
The two-day conference brought together experts, thought-leaders and crypto firms at Token2049, Singapore, which is expected to attract more than 7000 crypto fans and nearly 200 journalists.
“I am wildly bullish on crypto,” said Dan Morehead, CEO & Co-Chief Investment Officer of Pantera Capital in a key note speech on the first day of the conference on Wednesday.
He added that “We are building a whole new financial infrastructure, and it is happening at a time when valuations are so low.”
Web3 is the future of tech, he said, because Big Tech companies have governance issues and the use of private data where users get very little value.
“They get paid for value,” he said, adding it is a “really sketchy business model.”
He said that the rise of crypto, gaming, metaverse and NFTs has brought a lot of people into blockchain.
The recent crash in the crypto prices is akin to the past crashes endured by the Big Tech companies, he said, adding that he believes the crypto industry will soon recover to regain its past glory.
“In three or four years, traditional finance companies are coming into blockchain,” he said.
Jordi Alexander, Chief Investment Officer of crypto investment firm Selini Capital, told another panel that his firm is extremely bullish in the long term.
“I am short-term cautious, but long term bullish,” he said, adding that “I want to buy Bitcoin – I am very long term bullish.”
The event also showcased talks and projects by just about every area of crypto from payments, gaming, crypto trading, women in crypto and crypto’s involvement in environmental conservation and climate change.
Max Song, founder of Carbonbase, which is building a fintech platform to facilitate sustainable transitions for enterprise and individual to take effective climate action, said that blockchain is a natural solution for reduction of carbon emissions.
This is mainly due to transparency afforded by transactions carried out on blockchain, he said.
“Large companies are buying credit but there are no audit trails,” which means “blockchain is the easiest solutions for carbon disclosure projects,” he said.
He said traditional carbon registries were built decades ago and it is now time for new business models and registries powered by blockchain to fight climate change.
Through blockchain, carbon can be rewarded on a daily basis, he added.
Mark Novogratz, CEO of Galgaxy Digital, also said that the he is bullish on the long term, adding that NFTs will be a force to drive blockchain adoption amongst masses.
“We need physical objects to drive adoption, like our tickets, art work and other objects,” Novogratz.
The conference was held at Singapore’s Marina Bay Sands convention center.
In addition to the talks, there were nearly hundreds of crypto companies showcasing their services and products. They range from blockchain firms providing crypto AML/KYC services to payments to leading crypto exchanges such as Crypto.com and FTX.
About the author
Tsering Namgyal is the chief content officer of NFTmetta.com.
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