Crypto Consensus 2019 Recap

From the perspective of HTI Partner and Managing Director, David Nuelle

by Catherine Hehmeyer
3 months ago


David Nuelle, Partner and Managing Director here at HTI, attended this year’s Consensus conference in New York City, CoinDesk’s annual gathering of the cryptocurrency and blockchain technology world. We wanted to share David’s thoughts on the key happenings at Consensus, and where he thinks the space is headed.

 

“The conference has wrapped up and the prevailing sentiment is that crypto winter is behind us, and we are now squarely in crypto spring. This was the second year I have attended the conference and there have been some big changes over the last year. I really enjoy meeting with the emerging companies and understanding their respective models. Probably the most encouraging change was that many ideas that were abstract or early in concept last year are now starting to come into production. A few of the companies that really are taking off include Polymath, Harbor, TrueDigital, OTCXN, SJMX, SeedCX, ErisX, Curve, LGO, and Tagomi.

BitGo made a big splash on Tuesday when CEO Mike Belshe announced that they are launching an off chain settlement service. A new paradigm has now been created: the custodian as trade facilitator. This was a big topic of discussion as it has the possibility of changing the landscape in digital asset trading. Another prominent topic was the buzz around the number of CME futures trading on Tuesday. The exchange hit a record with 33,700 contracts trading, more than 1bn notional.

Former US Congressman, Ron Paul, was on hand to offer his opinions on the state of the world and the state of regulation in crypto. Specifically, he criticized the regulation put forth by Brad Sherman which is seeking to outlaw crypto as a means of payment. Most participants seemed to dismiss this as partisan posturing, but it seems to be something to watch.

Another highlight was the Jimmy Song bet with Joey Lubin, Founder of ConsenSys. For Lubin to win there need to be 5 unique Dapps with 10,000 or more daily active users. They upped the wager from last year to 500k. Only time will tell who is the winner, but my money is on Lubin (apologies to Jimmy Song who is pictured).

All in all it was an invigorating place to be with crypto prices doubling in less than 2 months, projects starting to go into production and a real crypto ecosystem starting to take shape. The next few months should be really exciting for everybody involved. If this week is any indication, buckle your seat belt and get ready for the ride!” 

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