Cryptocurrencies

Paris Blockchain Week Summit, CZ, Hasheur, Cédric O … what to take away from the 2020 edition? – Cryptocurrencies

PBWS 2020

You weren’t at the Paris Blockchain Week Summit this year? Don’t panic, we’ve taken you through the digital version of the blockchain event of the year for you. For several years now, this event has brought together many of the most influential speakers in the blockchain and crypto ecosystem. Despite the remote organization of the event, there was no shortage of guest stars: CZ from Binance, Arthur Breitman from Tezos, Hasheur from Feel Mining but also members of the government such as Cédric O or Kat Borlogan, the director of the French Tech. So what did he say to himself at this blockchain summit? What are the major trends of this year that we have seen reflected in the debates? We will explain everything to you !


CZ, Binance CEO during his speech at PBWS 2020!
CZ, CEO of Binance Exchange Attended PBWS 2020

As a preamble to this article, which aims to give you a clear and concise vision of the major trends and discussion topics that are driving the blockchain and crypto sector at the end of 2020, we will note the intervention of CZ the CEO of Binance. Indeed during a quick intervention, he had the opportunity to announce that the Binance Foundation had been able to reap a value of almost $ 60,000 in Bitcoins which will be donated for the reconstruction of Notre Dame de Paris. Indeed, during the last edition of the PBWS, CZ launched a donation campaign to help rebuild the historic cathedral. Almost a year later, the collection is over, better late than never!

DeFi, “Dify”, pronounce the word as you want, the decentralized finance is the trend of this year 2020. Its emergence would have almost succeeded in overshadowing the increase in the price of Bitcoin until a new “All Time High” flirting with the $ 20,000. So yes, the Paris Blockchain Week Summit was no exception to the rule, many debates and speakers from the DeFi sector were able to speak at the various conferences.

The different subjects Challenge revolved around several questions: CeFi versus DeFi in which the COO of Crypto.com was able to present the hybrid positioning of the exchange on the market with many solutions related to decentralized finance that we had the opportunity to deal with in previous articles. On the other hand, does the Challenge represents a real alternative vis-à-vis traditional financial services? An interesting debate which made it possible to see the potential offered by Challenge but also the current limitations of this sector today, both regulatory and technical.

In general, what it turns out to believe Charlie Meraud from Woorton and Misha Alefirenko from VelvetFormula, Decentralized finance has achieved an incredible tour de force this year by offering a vastly improved user experience. This is one of the main advances in the sector which previously appeared to be totally marginal because it was very complex to use for its users. Even if decentralized exchanges like Uniswap can still be improved, they have improved considerably and this greatly explains the exponential increase in funds now blocked in protocols Challenge (about $ 15 billion).

The famous topic of the use of blockchain technology was of course ubiquitous. Indeed, in recent years, not a day has gone without a company or a consortium explaining that it will use blockchain to revolutionize this or that process. It is therefore interesting to see, beyond the announcement effects, thehe real state of the art of these projects with a vision of the insiders who work on these projects day by day.

We were thus able to attend a conference dedicated to blockchain and the traceability issues that this technology can address. Around the table we found a nice panel of speakers: Charles Astruc (PWC); Antoine LeFeuvre (Ministry of the Economy and Finance); Matthieu Hug (Tilkal); Charlotte Verhaeghe (Mondelez); Guillaume Boilot (Vacheron Constantin). We were finally able to see very concrete advances in the market.

Illustration of the conference on blockchain and traceability during PBWS!
Supply chain actors present to talk about blockchain

For example, you will not look at your little read package the same in the future! Indeed, Mondelez has partnered with the Connecting Food start-up to provide customers with end-to-end blockchain traceability for small Lu cookies!

On the other hand, we now know that Vacheron Constantin, joined the Arianee consortium to develop its certificate of authenticity anchored on the blockchain. So if you are a fan of exceptional watches and blockchain technology, you will be served, little read too!

Finally, DLT use cases were in the spotlight. Decentralized technology thus provides a response in several varied fields and it can provide even more by being coupled with IOTs to provide traceability in the issues of Fleet Management, transport of drugs and / or vaccines. An issue that is very topical today. DLTs could thus finally demonstrate their full potential. One thing is certain, in 2020, teams and companies have structured themselves around these technologies to deliver great projects that are starting to mature today.

During this PBWS, there is a sponsor that was particularly essential, it is Tezos. You know it, the Tezos blockchain is increasingly establishing itself in the market and aims in particular to compete with the giant Ethereum. Tezos was thus represented by Arthur breitman, one of the first architects of the project. The Nomadic Labs foundation, which carries out numerous lobbying actions for Tezos with companies and players in the sector was also present to promote the use of its technology to build relevant use cases. We could thus find conferences dedicated to companies to help them take control of technology, set up consortia and derive all the added value from the use of smart contracts.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

At a time when Ethereum is switching from version 2.0 to a Proof of Stake protocol, Tezos is one step ahead and already offers this type of protocol, in particular more respectful of the environment and not requiring power. calculation to validate transactions. A solution chosen by Exaion which wishes to provide Blockchain as a service solutions for its large account customers. Fatih Balyeli, CEO of the startup Exaion, an EDF subsidiary, was able to present the blockchain actions and solutions offered by his company using green energy sources. In fact, Exaion had shown itself to be a pioneer in its sector by announcing the fact of becoming Baker on Tezos recently. There are also associated with Just Mining for the arrival of Eth 2.0. An announcement representative of the creation of an increasingly strong blockchain network in France.

Finally, negative news around blockchain is causing bad publicity. Some actors like Scorechain, ChainAnalysis and Ciphertrace have specialized in the identification and monitoring of transactions which take place on blockchain networks that often allow the tracing of illegal transactions to be traced faster than the traditional financial system.

The banking and insurance sector was also in the game. These players were among the first to see blockchain technology and more broadly DLTs as a very significant potential. In this PBWS, the debates revolved around several issues. How can banks carry out new experiments based on DLT technologies. We were thus able to discover an interesting use case for this sector: the use of Distributed Layer Technologies for international payment traceability purposes. Technology provides an answer for auditing and tracing bank sanctions thanks to an ecosystem of actors grouped together in a consortium.

This year, it wasn’t the commercial banks that put on the show at the PBWS. No no, the actor who was one of the most visible was indeed the Bank of France. So Denis Beau, the first deputy governor of the Banque de France was able to present the blockchain technology experimentation project which launched recently and which we have had the opportunity to relay on numerous occasions. The contours of this blockchain-based digital euro potential are still very vague. In order to better understand what is possible to do that Banque de France has decided to carry out experiments. More generally, this is part of a reflection led by the ECB and Christine Lagarde on this subject.

This is a topic that comes up every year. Where are the payments in cryptocurrency? Will the long-awaited adoption finally happen? Until we can pay for our baguette with our Bitcoin wallet, there are actors who are working to promote this famous adoption.

We find among them, an actor whom we have already met at Thecointribune, it is Lunu. Indeed, this Berlin startup created in 2018 focuses on offering physical payment terminals so that shops can accept crypto payments as you pay today by credit card. Represented by Vadim Grigoryan, Lunu presented his vision of the market, the importance of technology and design to make payment in cryptocurrency attractive to newbies.

If Lunu is positioned as a solution to be adopted by retail or e-commerce professionals, the Ngrave company wants to revolutionize the cold wallet market. The Ngrave Zero thus presents itself as “The Coldest Wallet”. Ruben Merre from Ngrave explained that Ngrave’s teams set about rethinking the experience for cryptocurrency users. Indeed one of the problems today is making cryptocurrencies tangible and a good physical crypto wallet is a good way to achieve this. If this one is easy to use and intuitive, it could be a real game changer to enable more massive adoption of cryptos. So if we can pay with this wallet thanks to the Lunu terminals, the circle is complete!

A few years ago Bruno Lemaire participated in the PBWS in order to shout loudly that France would be the Blockchain Nation. The Pacte law was to be the cornerstone of French regulations, a source of innovation for the sector. Today, a press release announces the strengthening of measures to identify users of crypto exchanges in France. A hard blow for an industry which is already accused of all evils: terrorist financing in the lead. Despite the actors’ attempts to talk to the executive, nothing seems to help. The dichotomy between blockchain and crypto seems to be over. On the one hand, we should promote the use of blockchain to optimize interbank processes, create a digital euro and on the other, kill cryptos. A vision which, according to the participants, still lacks meaning, appears to be completely out of step with the international ecosystem.

Intervention Cedric O noticed after the announcements Gov't regarding regulations on assets crypto
Cédric O intervened to take stock of crypto regulations in France

Good or bad news, regulatory players were present in large numbers during the PBWS. We could notably meet the Financial Markets Authority which manages the famous status of PSAN but also certifications for ICOs. Kat Borlongan represented French Tech, an organization that finances part of blockchain startups in France. Finally, the technology standardization body: AFNOR was also present to discuss the blockchain standards in France. So what to think of these actors? If in one sense they seem to be a brake on innovation, in the other it can also be a reflection of a certain maturity of blockchain technologies….

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

If this year will be marked by the Covid, the containment and shutdown of part of the economy. The blockchain and crypto ecosystem has shown it great resilience. This Paris Blockchain Week Summit was a reflection of this. For some, projects are reaching maturity. Others have realizable potential in a short period of time. We are thinking here in particular of the emergence of DeFi and the adoption of cryptocurrencies as a means of payment for all. For their part, banking players continue to discover technology with an increasing attraction for stablecoins. 2020 will have made it possible to solidify the foundations of the blockchain ecosystem in France, see you next year to see how all of this will evolve!

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