AUSTIN, TX, May 30. Consensus 2024 is taking place now in Austin, Texas, running from May 29 to May 31, 2024. Bringing together a diverse range of stakeholders from the cryptocurrency, blockchain, and Web3 communities, to discuss pivotal industry issues, showcase innovations, and foster networking. The conference concludes tomorrow with a couple of key announcements.
While the industry has visibly lost some steam and focus due to the FTX collapse, and as AI has overwhelmingly taken over both investment priority and shiny new thing status. But less vigilance from the Biden administration on crypto means more envelope pushing now, and many industries are finding new value in blockchain’s recordkeeping capabilities combined with other tech. Interest in making crypto really work for future (national) digital currencies is reaching new heights. There are also a number of companies collaborating to combine business cases for blockchain and AI.
Some of the major stories out of Consensus 2024:
1. Regulatory Developments in Crypto: Discussions on the evolving regulatory landscape were a major highlight. Experts debated the impact of potential regulations on the future of cryptocurrency and blockchain technology, focusing on how different jurisdictions are approaching the regulation of digital assets.
2. Web3 and AI Innovations: A significant focus was on the convergence of Web3 technologies and artificial intelligence. Various sessions explored how these technologies can be integrated to create more decentralized and intelligent systems, pushing the boundaries of current technological capabilities.
3. Major Announcements from Industry Leaders: Key players in the blockchain and crypto space, such as Coinbase, Chainalysis, and Ethereum Foundation, made important announcements about their future projects and partnerships, which are expected to shape the industry’s trajectory over the next few years, including:
– Coinbase: Coinbase announced an enhancement to its Ethereum staking infrastructure by adding support for Nethermind and Erigon execution clients. This upgrade aims to improve the security and decentralization of its staking services, providing a more robust and secure environment for its users’ staked assets.
– Ethereum Foundation: The Ethereum Foundation revealed a collaborative grant round in partnership with Aztec, Polygon, Scroll, Taiko, and zkSync. This initiative is focused on developing Zero Knowledge (ZK) public goods projects, with each partner contributing $150,000, totalling $900,000 in grants. This effort is designed to advance the Layer 2 ecosystem by promoting shared standards and increasing modularity in ZK technologies.
– Chainalysis: Chainalysis announced new advancements in its data infrastructure to support a wider range of blockchains and tokens. These improvements aim to enhance the speed and comprehensiveness of blockchain data analysis, facilitating better compliance and risk management for their clients. Additionally, Chainalysis emphasized the importance of using wallet intelligence not just for risk management but also as a proactive strategy for business growth.
4. The EasyA Hackathon: The hackathon attracted a lot of attention, with developers from around the world competing to build innovative Web3 projects. This year’s hackathon was particularly notable for its large prize pool and the opportunity for participants to present their projects to top investors and industry leaders.
5. Startups and Investment Opportunities: Consensus 2024 served as a launchpad for numerous startups in the blockchain space. The event highlighted various promising early-stage companies and provided a platform for entrepreneurs to connect with venture capitalists and other investors. Companies featured include include:
– Helium Mobile: This company was featured in the Gen C Hardware Zone for its innovative approach to decentralized wireless infrastructure. Helium Mobile aims to create a community-driven wireless network using blockchain technology, allowing users to earn rewards for contributing coverage.
– Dimo: Spotlighted in the same Hardware Zone, Dimo is working on connecting vehicles to the decentralized web. Their platform allows users to collect and share their vehicle data securely, providing valuable insights and applications in the automotive industry.
– WeatherXM: Also featured in the Gen C Hardware Zone, WeatherXM is building a decentralized weather network. By utilizing blockchain technology, they aim to provide accurate, hyper-local weather data collected from community-operated weather stations, offering a unique solution to traditional weather forecasting methods.
These companies were part of the Startup Village and PitchFest, where early-stage Web3 startups compete and showcase their innovations to investors and industry leaders, aiming to secure funding and partnerships.
The conference ends tomorrow. BetaKit reports that the 2025 conference is coming to Toronto.
(with research support from ChatGPT)
