Crypto Invest Summit (CIS) is the leading conference & expo focused on blockchain technologies, entrepreneurs, investors, and developers. If you attended CIS this year, one thing was clear: This was far from a typical Crypto event.
The CryptoCanucks team along with BitCanuck had the privilege to be CIS’s media partner and attend the conference in early April of 2019. Here are the 10 key takeaways we put together for those who missed the conference.
1. The Crypto Winter is over (according to Tim Draper), but the spring bull run is going to take a bit of time. It is uncertain what coin will survive the test of time, but Bitcoin appears to be a strong contender. Furthermore, on a projection of achieving 5% global adoption on cryptocurrencies, BTC’s potential value can hit $250,000 USD per BTC.
2. Institutional grade custody solution services are too expensive and virtually nobody is willing to pay the additional 2% fee. However, things are expected to change within a year by offering clients more affordable rates.
3.ICO’s are dead, or almost dead. The ones that will continue are the ones that have a strong value proposition and a strong community.
4. STO’s are the up and coming new thing and is expected to take off within 1-2 years. This market is immeasurably huge. Many are claiming that they are working on platforms for STO onboarding; some are doing consulting, some listing, some issuing, and distribution. In order to acquire clients with services around STO’s, companies are currently setting up ecosystems around licensing requirements ( listing, issuing, distribution/sale of securities, and to Investment Banking licenses). The main sponsor Fincross is an Investment Bank regulated in Mauritius and plans to acquire licenses in various jurisdictions as they become available.
5. CIS and other cryptocurrency/blockchain events are seeing 60% fewer participants compared to last years sold out conferences worldwide. The crypto community has either matured or its struggling to increase adoption speed. There is an insufficient value that is brought into the crypto ecosystem and existing players have a feeling those that have already adopted crypto are trying to “extract” value for their own interest, rather than contributing and teaching. The focus should be on viable solutions for existing problems vs developing several blockchains that are irrelevant if there is no mainstream adoption.
6. Blockchain entrepreneurs are losing their patience in their discussions with regulators all over the world as they feel that the governments/regulators do not have knowledgable dialog partners. This leads to frustrated entrepreneurs in the space trying to educate governing bodies on items that they feel that are way too basic for the level of discussions needed to push forward with informed decisions that will accelerate the acceptance of blockchain technology. Multiple regulations like the Bank Secrecy Act to Privacy, Security laws, AML and KYC threatens innovation from entrepreneurs that do not have the resources to go through thousands of pages of regulatory requirements.
7. Many investors are positioning themselves as a VC fund, but in reality, they are brokering funds and want to sell services to facilitate the raising process.
8. Global Presence – There is a strong value proposition of having an International presence and ability to connect locally in various jurisdictions with players that will ultimately need local services around their own blockchain solutions. These services are in the area of marketing, lead generation, consulting, compliance, finance, fundraising, blockchain development, smart contracts to name a few. Showing past results is the main element of attraction together with a strong vision that needs to be articulated in a way that resonates with the investor, and also a strong team.
9. Although multiple teams are incorporating in jurisdictions other than the United States, US markets are very attractive for long term investments opportunities. Wyoming is shown as an example of blockchain friendly state, but even here things are expecting to take additional time for mass blockchain confirmation.
10. Existing industries like real estate, supply chain, finance, etc. will be responsible to incubate clients with existing processes that will migrate current users to use blockchain technology. An example from the real estate world: probably that tokenizing a single real estate asset will make little sense, as this will simply serve just the interest of the project owner for fundraising, but if an opportunity will arise to sell the asset for a premium, it becomes cumbersome to deal with too many investors that owned tokes/shares in the project. On the other hand, tokenizing a REIT could be the perfect solution for a Security Token Offering.
Nothing compares to in-person meetings and networking with top-tier business and technology leaders from all over the world. Take a look at future events that are happening here to stay up to date with the emerging space of Blockchain and Cryptocurrency.
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