A look back at the third edition of the Paris Blockchain Summit

Third edition of Paris Blockchain Summit was held on Friday, July 8, 2022 at the Palmeraie. On the program conferences, discussion panels and workshops that bring together private and institutional actors. Cryptonews was there and tells about the event.

Bringing blockchain players together to drive creation

that Paris Blockchain Summit Mainstream Edition gathered on July 8, 2022, 50 international experts who came to share their vision of the future of NFTs, DeFi, GameFi, stablecoins or the European regulatory landscape.

In the lush surroundings of the Palmeraie in Paris, the show wanted to give the debate an honor by gathering actors from different backgrounds around discussion panels, which were sometimes lively. On this topic, Remy OzcanChairman of French Federation of Blockchain Professionals (FFPB) and co-organizer of the event told us:

“The blockchain industry will be worth $ 45 billion by 2025, according to the World Economic Forum. It is therefore important that on the occasion of events like this, we can bring together speakers, freer thinkers, but also actors who have a more conservative approach.”

Third edition of Paris Blockchain Summit was held on Friday, July 8, 2022 / Photo: Lyna-Ali Chaouch

The organizers wanted to offer an event on a human scale, which in their opinion was more fruitful for fruitful exchanges between the participants. In this regard, Remy Ozcan added:

“The DNA of this event is to favor quality over quantity. When we attend major events, relative to the number of attendees, we are often involved in mass marketing. Attendees are proud to say they were there, but behind we end up creating value. Very rarely. “

European regulation of cryptocurrency is at the heart of discussions

If it was only a sketch not so long ago, the regulatory landscape of cryptocurrencies has gradually taken shape over the last few months in different countries. The adoption of restrictive regulations, if on the one hand it can reassure the consumer, on the other hand, also worries blockchain entrepreneurs.

The draft European regulatory framework MiCA (Markets in Crypto-Assets), which received preliminary approval from the EU Council last November, was the focus of all attention at the Blockchain Summit in Paris.

Source: Adobe Stock

A protection framework, a MiCa license

In this context, the institutional representatives present at the fair insisted on the need to offer European consumers a framework of protection. The issue of stablecoins will in particular be conditional on obtaining a Mica license, which the issuers have obtained when, inter alia, they have demonstrated that they have sufficient reserve funds.

John Ho, Head of Department at the Bank of England Standard Charteredargued in particular that the purpose of the regulators working on the Mica project was precisely to prevent situations such as those experienced by Celsius Where Travel digitally. In this context, Dimitrios Psarakis, a money economist and former senior European official, spoke about a ceiling that could be imposed on DeFi platforms and which would limit the proportion of user assets that they could invest.

Joana Deto, responsible for the fight against economic crime withinEuropean Banking Authority, has also responded to the concerns of companies in the blockchain sector by defending that MiCA will enable the EU to gain competitiveness. She said about this:

“MiCA is not perfect, on the other hand, as was the case with the GDPR, it will allow Europe to lead the way and win in competitiveness, by offering companies a harmonized and secure framework”.

Exit Play-to-Earn, make room for Play-to-Own

One of the benefits of this show is also the clear desire of some Play-to-Earn app developers to switch to a new model. Jean-Nicolas Hinard, CEO of Wagmi Studio France and Clément Fermaud, founders of France Cryptohas already referred Play-to-Earn to the past.

According to them, it is crucial, for developers in the future, to offer applications where the joy of the game forms the main part of the user experience. Gains in cryptocurrencies would therefore be secondary. The main benefit of this “Play-and-Earn” model would be to generate more massive adoption by allowing these applications to break out of the niche of cryptocurrency enthusiasts.

Moreover, the long-term ambition presented will be to move towards “Play-to-Own”. According to this concept, the player, attracted by the attraction of the game, would expand his portfolio, convinced of the long-term potential of his cryptocurrencies, without being stimulated by the lure of instant gain.

Towards a fourth edition?

With this edition, the organizers of the Paris Blockchain Summit wanted to send a strong signal to the whole ecosystem by recalling the importance of creating connections between actors from different backgrounds and sometimes having divergent interests. According to Rémy Ozcan, this bet is successful, therefore the organization of a 2023 edition has been confirmed.

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