Crypto Bahamas 2022
In my opinion, the best sessions of Crypto Bahamas 2022.
Ready Layer 1: Blockchain Protocol Pioneers
Illia Polosukhin (NEAR Protocol co-founder), Kevin Sekniqi (Ava Labs COO), Silvio Micali (Algorand founder)***** and Anatoly Yakovenko (Solana co-founder) first explain their layer 1 protocols and their individual missions. They discuss blockchain-enabled transaction volume on exchanges, developing code standards and the future of blockchain protocols.
Wall Street Goes Crypto
with Anthony Scaramucci, Kevin O’Leary & Jeremy Allaire
Anthony Scaramucci (SkyBridge & SALT founder), Kevin O’Leary (investor & TV personality), and Jeremy Allaire**** (Circle co-founder & CEO) join Teana Baker-Taylor (Chamber of Digital Commerce CPO) to discuss the crypto-Wall Street transformation. Each speaker recounts their journey to crypto, important steps needed for expanded institutional crypto adoption and the central role stablecoins like Circle’s USDC will play in transforming global finance. Finally, they discuss the type of policy and regulation needed to allow crypto’s growth and innovation, and what the crypto-Wall Street relationship will look like moving forward.
Crypto State of the Union
with Sam Bankman-Fried & Katie Haun
FTX founder & CEO Sam Bankman-Fried and famed investor Katie Haun of Haun Ventures sat down for the Crypto State of the Union at Crypto Bahamas, moderated by best-selling author Michael Lewis. Bankman-Fried and Haun discuss their journey to crypto and their approaches to investing in the digital asset space. They finish with their thoughts on crypto regulation and what an Elon Musk-led Twitter could look like.
Katie likes ZK next investment. There are two types of roll ups ZK roll-ups and Optimistic roll-ups.
ZK roll-ups although faster and more efficient than Optimistic roll-ups do not provide an easy way for the existing smart contracts to migrate to Layer 2.
Optimistic roll-ups run an Ethereum Virtual Machine (EVM) compatible virtual machine called OVM optimistic virtual machine which allows for executing the same smart contracts as can be executed on Ethereum. Allow smart contracts to interact with each other.
Investing in Crypto
with Cathie Wood & Mike Novogratz
Legendary investor Cathie Wood***** (ARK Invest founder) and Mike Novogratz (Galaxy Digital founder & CEO) sit down with CNBC’s Kate Rooney to discuss investing in crypto. They explain their approach to allocating within the digital asset space, Bitcoin’s price target and what an Elon Musk-led Twitter could look like. Finally, offer their thoughts on Web3, decentralized platforms and the next big industries to be disrupted.
Crypto Alpha: Investing in Megatrends
Crypto pioneers Su Zhu***** (Three Arrows Capital), Jihan Wu (Matrixport) and Raymond Yuan (CTH Group) join Dan Keeler (Blockworks EIC) to discuss crypto megatrends. They talk about where they see the biggest crypto trends emerging, ideas around decentralization and the need for application builders. Finally, they note the human talent flooding crypto as reasons for an exciting future.
“It’s there for people to use and to and to see benefit as they see fit so if you’re in a situation where you don’t need to use crypto it doesn’t benefit your life you you may not want to use it but what we are seeing is that places where it is useful you know and people where people do uh you know versus they’re unbanked or they’re hard for them to get banked um it’s tremendously useful. -Su Zhu
“No one thought pay to earn was a thing. No one thought that you would play games like this. People always massively overestimate their ability to predict the future despite having no record of doing so. This kind of human linear thinking where we’re entering an exponential age of things. Someone can have an idea and within six months it can be the most dominant idea.” — Su Zhu
“The whole industry is good but the ecosystem sometimes looks a little bit more fragile especially in a bear market. For some people itsn’t easy to earn money so they just hack. Why they can easily hack is because the infrastructure is not good. We always talk about the ISG: Infrastructure, signing authority and governance.” -Jihan Wu
Building a New Financial System: Stablecoins, Banks & Beyond
Leaders in crypto with Michael Moro***** | CEO, Genesis Global Trading, Diogo Mónica | Co-Founder & President, Anchorage Digital, Odetta Morton | CEO, Deltec, Charles Cascarilla | CEO & Co-Founder, Paxos, — Susan Li | Correspondent, FOX Business Network) sit down to discuss the current macrotrends affecting digital assets, institutional crypto adoption and regulation. Finally, they discuss the huge potential of stablecoins and Wall Street’s transition to this new financial system.
Financial institutions are incentivized to change. They want to keep their customers; once you start losing customers, you get your mind focused, and that’s what’s happening now.
There’s a call for greater regulatory clarity as it relates to stablecoin. It’s coming, and I believe that you know regulators are just trying to wrap their minds around stablecoin and grapple with how to create that framework that stablecoin can exist. — Odetta Morton
Stable coins at the stage it is so early, so early. The product-market fit seems like it’s there because we have an early adopter community using it. But could you have it scale on a societal-wide basis the way it’s constructed right now? I don’t think so. There are features around privacy and anonymity that still haven’t been worked out. How do you get the technology to work at a payment system level? That’s still not there. I’m not sure that we’re in a position where a Central Bank could go and issue this; there are so many policy implications. So I understand why they want to move slowly, but they should allow the private sector to innovate and see what works. That can lay the real foundation for deciding what should be done at a much larger scale, with government backing. -Charles Cascarilla
Three extremely important characteristics are not natural for a government to allow some of them. We have transparency, in which we could have something that comes out that is transparent. We have programmability; let’s assume that a government-backed solution has those aspects. But then you have the permissionlessness aspect of it, which is the one that candidly created the most innovation in crypto. The fact that anybody can program anything. -Diogo Mónica
It’s still 70/30 FED wires okay as opposed to stable coins as kind of the primary issuance method; the crypto native guys are the 30 percent. They’re the guys settling USDC all day long. The traditional large institutional players are still setting the Fed wire. Michael Moro
We got to two trillion dollars without a single bank doing anything. To go from two trillion to 100 trillion and beyond is kind of where I think the traditional banks will play. -Michael Moro
The Crypto-Game has started, but maybe only the first pitch of the first out of the first inning. I mean, it’s very early. The way I would dimension that, there are, say, two trillion dollars of crypto assets; there are 700 trillion dollars of assets in the world. Of those 700 trillion traditional assets, what percent have been tokenized? It’s basically zero; it rounds to zero; it’s a maybe 150 billion, so really nothing. Hence, you’re, by definition, at the very beginning. -Charles Cascarilla
Whenever you add crypto to your traditional consumer business, these players realize that they have ten times engagement. Well, part of it is because maybe volatility is the feature since you open the application every day to check prices. You end up engaging with the rest of the products on a consumer app. Every time somebody adds crypto to their consumer products, they see a lot more engagement on all their other products across the board in the future. -Diogo Mónica
Bitcoin at what price? As we get to that final number, we will transition a lot more from the risk asset to the store value. We’re in that transition every time you see these huge drops in volatility. It’s those guys, the traders, the speculators selling to the holders that will never sell. So over time, I expect the float of Bitcoin to actually decrease on the exchanges more and more people will buy and will never actually sell. The market dynamic we’ll see that when the next bull market ultimately comes, you’ll see a lot less liquidity on the exchanges in terms of the number of coins. I think that’ll be a huge driver in the next bull market. -Michael Moro
*Asterisk(5 being the best) All great but who Stood Out
$Djed $COTI @InputOutputHK @CardanoStiftung #Blockchain #Bitcoin #Cardano #Ethereum #Solana #DeFi #SmartContracts #NFT #Gaming #Cryptocurrency #Energy #Networks #Technology #Governance #StableCoin
@avalabsofficial @NEARProtocol @Algorand, @Scaramucci @kevinolearytv @circlepay @SBF_FTX @katie_haun @CathieDWood @novogratz @zhusu @dankeeler @JihanWu @michaelmoro @diogomonica @deltecbank @PaxosGlobal
NOT INVESTMENT ADVICE
Any views, opinions expressed, and consulting services provided are for educational purposes only; you should not construe any such information or other material as legal, tax, investment, financial, or any other advice. Sessions do not constitute a recommendation or endorsement of any particular cryptocurrency asse
