The European Blockchain Convention (ECB) took over Barcelona for the 10th edition. The two-day event featured speakers who facilitated invigorating dialogue between industry experts.

In the Catalan capital, the crypto industry’s brightest minds discussed digital assets, decentralized finance (DeFi), tokenization, Web3 and sustainability, exploring the future of the industry amid growing adoption and evolving regulatory frameworks around the world.

Day 1: “Cryptocurrency adoption cannot be forced”

On September 25, ECB10 kicked off its “biggest edition yet” with Daniel Salmeron and Victoria Gago, two of the ECB’s founders, discussing why the world needs cryptocurrencies. After the day, there was a debate between Alireza Siadat (Annerton), Yael Ossowski (Consumer Choice Center) and Vugar Adigozalov (Bidget).

Panelists discussed the industry’s leisurely adoption and the importance of user experience (UX) and self-care, which Ossowski emphasized. He emphasized the need for “products that people can use every day,” a point opposed by Adigozalov, who noted privacy challenges in a see-through ecosystem.

Salmeron And Gago Welcome EBC10's attendees on Day 1.Source: EBC

When asked “Will cryptocurrency payments be a killer use case?” panel experts noted that people in developing countries are “more willing” to “tolerate bad” UX to take advantage of DeFi, highlighting the “transformative power” of stablecoins in countries like Nigeria where established finance (TradFi) is distrusted.

Zoltan Vardai (Cointelegraph UE) and Eric Demuth (Bitpanda) took the stage together to highlight the need for regulatory transparency for the long-term growth of the industry. Demuth also addressed the issue of adoption, explaining that it cannot be forced. However, he argued that “as cryptocurrencies become more efficient and cheaper, people will naturally switch.”

Day 2: Blockchain, the “game changer” for sustainability

The September 26 program was filled with dialogues between panelists. The key conversation led by Laurent Marochini (Société Générale Securities Services) took place between Martijn Siebrand (ABN AMRO BANK NV) and Emilie Allaert (Luxembourg Blockchain Lab).

Panelists discussed the role of blockchain in combating greenwashing, with Allaert highlighting the “game-changing” benefits of Distributed Ledger Technology (DLT) to prevent it. “With blockchain, you can check whether companies are actually implementing their sustainability goals,” she said.

It is worth noting that the discussion touched on some misconceptions about the energy consumption of Blockchain technology. Allaert pointed out that the fresh technology has evolved to apply 50 times less energy than before, and noted that artificial intelligence (AI) energy consumption is largely unchallenged.

Nirav Bakshi (Blockchain Founders Fund), Sebastian Borget (The Sandbox), Bay Backner (Decentraland) and Pablo Monti (BingX) discussed Web 3 gaming and its future in an engaging panel. Borget noticed players acquiring their first NFTs and experimenting with blockchain through gaming as blockchain gaming becomes a gateway to Web3.

He highlighted the industry’s shift towards strengthening the creator economy, which offers a “fresh approach” to the challenges of established online gaming. Meanwhile, Monti highlighted the sector’s maturity, moving from a “game-to-earn rush” to a service that “supports the broader gaming industry” by outperforming DeFi in everyday wallet usage.

Other panels discussed digital asset regulation in the UK, Europe and the US. Lisa Cameron (House of Commons) passionately called for global regulatory cooperation on Web 3, highlighting the need for tailored solutions across all jurisdictions. Cameron also called on regulators to consult and work with younger generations, stressing the importance of shaping a positive future for the next generation.

On the second day of ECB10, the issue of infrastructure and cooperation was also discussed. The discussion, led by Yves-Michel Leporcher (Renault), highlighted the “long-term challenges” of each blockchain operating independently.

“There is a digital generation and we must make sure no one is left behind” – Lisa Cameron (House of Commons)

“Institutions are still catching up – ETFs have opened the doors, but the best is yet to come” –Elliot Johnson (Evolve ETF).

Total crypto market capitalization is at $2.24 trillion in the 7-day chart. Source: TOTAL on TradingView

Bitcoinist talks with the CEO of Gemini about the future of the industry on the Ancient Continent

During the event, our Bitcoinist team spoke to Gillian Lynch, CEO of cryptocurrency exchange Gemini for Ireland and Europe, about the upcoming MiCA regulation and its potential implications for the industry and retail consumers.

During the call, Lynch highlighted the growth in adoption, saying the number of cryptocurrency owners in the region has increased from 1 in 10 to 1 in 5 people over the past decade.

This rate could enhance further thanks to MiCA, an upcoming package of regulations to be implemented by 2025 to oversee the nascent industry. Lynch argued that once it is implemented, cryptocurrency exchanges like Gemini will finally have clarity.

The fresh regulatory regime could make the European region a fresh digital asset hub as the US has failed to provide certainty to its crypto sector. Additionally, Lynch told us that the region and crypto entities like Gemini will benefit from increased investment as MiCA materializes.

Lynch told us that the bigger challenge for Gemini and others will be educating users about MiCA and the fresh regulatory regime:

Cover photo from Unsplash, chart from TradingView.com