Crypto Summit: “We hope to have proven we are frequentable”

The Pics – for Polynesian Islands Crypto Summit – ended yesterday at the Hilton in Tahiti. For Hellmouth Banner, one of the organizers, the event showed that fenua could attract professionals from the blockchain and Web 3.0 industry, that the Polynesian crypto community was indeed active… And let alone if the elected officials and authorities were little. seemed to pay attention to the top: “We know we have been observed”.

Also read: PICS: Crypto aims for the summit in Tahiti

Busy news, market tensions, post-Covid period that makes some travelers doubt, hesitant support from the authorities… “We did this summit in the worst conditions, but it worked anyway”. After three days of discussions at the Hilton Tahiti, Hellmouth Banner says he is very pleased with the Polynesian Islands Crypto Summit, which ended Tuesday. This Moorea native, who entered the world of crypto assets eight years ago and is now the editor-in-chief of a specialist publication, The Corner Journal, was the conductor of these Pics, which brought together international players in the blockchain and Web3 industries (see box) in Polynesia for the first time. And to hear it, holding the meeting, which attracted representatives from leading industry players, including Binance, a cryptocurrency exchange platform with nearly 100 million users worldwide, is a win.

A “community” in fenua, interests outside

“The mere existence of this summit has shown one thing: that a few dozen, even a hundred, of a boiling and growing ecosystem can be brought to the fenua, despite the distance, the cost, the jet de G…” he explains. The summit also showed that local crypto players do exist: in the Faa’a hotel or on live conference broadcasts, the debates were well attended. “I suspected there was a large community, but like our islands it was scattered, hangs Hellmouth Banner. Thanks to this event, we showed that we were several hundred, possibly several thousand in this ecosystem, at least had one foot in it and understood that something very interesting was happening there for them or for growth.

According to the organizer, some guests at the top – specialized law firms or companies looking to build teams in staggered hours – have also identified “opportunities” in fenua, which can be explored in the coming months.

Government invested little

Because if the Pics took long months to prepare, this three-day summit is no “result”“It was a toolbox”continues the manager. Whether you are a private individual, trader, banker – there were a few who were a bit discreet – there are things that can be used, from which we can draw inspiration » in the blockchain ecosystem. Because if the use of Bitcoin and cryptocurrencies only grows (1000 billion dollars in capitalization and between 300 and 400 million users to date), this technology is already being used for many other operations, from securing legal transactions (“smart contracts” ), the exchange of artistic content (NFT)… “It is not a solution for everything, it goes very well without blockchain, specifies the crypto professional. But there are new ways of doing things that could be of interest to many sectors.”

What about elected officials and authorities? With the exception of Faa’a Town Hall – “which has developed the culture to be interested in new things,” emphasizes Hellmouth Banner – or Tahiti Tourisme, which is discussing cryptocurrency-related event options with organizers, institutions and the political world were very discreet for three days. For a time interested in the summit, the country has not really invested in the project. Unfortunately for many participants, who believe that the blockchain can have many applications in administration, from the management of public data to that of the land registry through civic or electoral life… “We know we have been observed, there has been attention, it suits us perfectlythe organizer puts it into perspective. Above all, we hope to have proven that we are frequentable”

Blochchain, Web3, crypto, kezako?

The blockchain is a supposedly inviolable technology for storing and transmitting information, which works without a control body and which is secured by cryptography. It started being developed in the 1990s, but it took until the late 2000s for one of its applications to become world famous: bitcoin. Always the first cryptocurrency in terms of capitalization and usage – thousands of sites, companies, as well as countries and institutions today accept it as a means of payment – it was followed by thousands of other “coins”, which vary in their technological construction, purpose or credibility. A market estimated in total at more than 120,000 billion francs, which arouses as much appetite and activity as fantasies and criticism. Just as email was the flagship application at the dawn of the internet, “bitcoin “embodies an ecosystem” much bigger” † Communication technologies, development of economic or legal tools, artistic, commercial or public services… These blockchain applications, in combination with those of other digital tools, such as virtual reality, form the “Web3” end-to-end. A new space that should allow the exchange of value, where Web 2.0, that of the “Gafam” such as Google or Facebook, above all allows the exchange of information. Some companies are now investing massively in Web3, which is more decentralized and immersive and is gradually seeing the birth of other giants still unknown to the general public.

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