Crypto is much more than numba go up despite numba being down..
There was the Permissionless conference yesterday and continuing today by Blockworks, a financial media brand that news and insights about digital assets to investors.
If you are interested on sharping up your crypto knowledge, register for their event that continues today.
Highlights from the conference, courtesy of Byron Gilliam of Blockworks:
“Email is for boomers.”
The State of Crypto in 2022 by Chris Dixon and Ryan Adams:
“Dixon offered a succinct bull case for crypto: Whereas Web2 is defined by monopolistic network effects, Web3 gives power back to users. This was a timely reminder that crypto is about much more than just numba’-go-up — which is handy, because the numbas have been going down.
Dixon says crypto is now where the internet was in the early 2000s: After the dotcom crash, people thought there’d never be enough demand for all the broadband capacity that had been speculatively built.
The parallel to crypto is obvious: We’re still just in the infrastructure build-out phase.
We are only now building the infrastructure and are similarly clueless as to how people will eventually use it.
Dixon noted as well that with the internet, there was no transition stage between skepticism and acceptance: It went straight from, “What you’re doing is a toy, a bubble, etc” to, “Oh my god, this is so important we have to nationalize it.”
Building for Web3 by Surojit Chatterjee, Coinbase’s chief product officer:
Surojit has a big vision: namely, bringing the next billion users into crypto — and talked about how Coinbase is working on making it happen.
What they are working on is making DeFi safer, friendlier and easier to use.
Among other things, they are rethinking digital wallets, solving for identity and KYC, as well as seed funding all sorts of protocols. It is good to see a Web2 corporation building amazing Web3 stuff.
DeFi: The Financial Backbone of the New Economy:
This panel about DeFi and DAOs, Josh Goodbody of Qredo reminded us that we are still in the “extremely early days” of crypto, so we should expect things to break.
The collapse of UST and LUNA last week was the tokenomics model. What didn’t break is the rails DeFi runs on.
Hot takes from the conference:
Soona Amhaz: “The bottom of the bear market is where the real substantive building happens.”
Konstantin Richter: “Prepare for a crypto winter, but the ice won’t be as thick this time.”
Stefan Goslin: “If you’ve made a trade on Uniswap, you’ve been sandwiched.”
James Wang: “I missed DeFi summer, because I wasn’t a citizen in DeFi winter.”
Josh Rosenthal: “Martin Luther was a great shit-poster.”
There were also announcements made like:
Robinhood unveiled a new Web3 wallet:
And Coinbase announced a web3 mobile DApps and DeFi wallet:
No cap, but we’re having a huge week for the future of crypto mass adoption!
This is a reminder that crypto is a lot more than just pumping and crashing token prices: Builders keep building.
After last week’s market bloodbath, I suspect I’m not the only one that needs this reminder.
See you tomorrow!
- Ope