Dubbed as “the most important Bitcoin occasion in historical past,” Bitcoin 2021 consisted of 12,000 attendees from throughout the globe. Undoubtedly, Bitcoin (BTC) adoption is growing at an impressive rate. But judging by the attendance at Bitcoin 2021, males nonetheless seem like the first viewers for Bitcoin.
Whereas the traces to the lavatory made it apparent that there have been nowhere close to as many feminine attendees as there have been males, there have been additionally fewer girls audio system than males at Bitcoin 2021. For instance, solely 27 girls are featured on the Bitcoin 2021 website, which consists of over 150 audio system in complete.
Though this was the case, the 27 girls who did communicate at Bitcoin 2021 left a long-lasting impression. The feminine audio system at Bitcoin 2021 mentioned quite a few completely different matters together with laws, technical features, authorized necessities and extra.
Wyoming units the stage for Bitcoin innovation
United States Senator of Wyoming Cynthia Lummis discussed how regulators can encourage Bitcoin innovation within the nation. Lummis was joined by Consultant Warren Davidson for the panel “Bringing Bitcoin Innovation Residence to America.”
Lummis kickstarted the dialogue by explaining how she received concerned with Bitcoin, saying: “I received into Bitcoin after being Wyoming State Treasurer. I used to be in search of nice shops of worth.”
Lummis talked about that the “enjoyable” factor about Bitcoin is that it’s very non-partisan and bi-partisan on the similar time. As such, she famous that it’s an awesome area for these scuffling with different points which might be decisive in Congress. “Bitcoin is a superb ‘Switzerland’ form of a spot for us, the place we are able to work on these points and put apart among the political penalties.”
Whereas Lummis made quite a few notable factors, the viewers applauded her remark concerning Bitcoin’s use as an asset to interconnect with the U.S. greenback:
“It may be the underlying community worldwide to maintain the greenback the worldwide reserve forex, however nonetheless permit folks to transact in a really freedom-loving approach. Whether or not you’re in Venezuela, the place inflation is outrageous and also you’re making an attempt to get your wealth overseas, you will get it out by Bitcoin. And, america, if we get to the purpose the place we’re experiencing the form of inflation that we’ve seen this 12 months, we might want that different as nicely.”
Given Wyoming’s friendly stance toward Bitcoin, it was no shock to additionally see Caitlin Lengthy, CEO and founding father of Avanti Monetary Group — a Wyoming financial institution fashioned to bridge digital belongings with the U.S. greenback cost system — communicate at Bitcoin 2021. Lengthy spoke on a panel entitled “Evolutions of Exchanges” and made quite a few insightful factors.
As an illustration, when requested about centralization dangers related to exchanges, Lengthy famous that the digital asset trade is making among the similar errors as conventional monetary companies:
“You can’t have good markets in the event you don’t have good data. The intermediaries on this trade will not be doing proof-of-reserves and will not be voluntarily disclosing monetary statements to know the counterparty danger related to them. In some instances, with 100-to-1 or 125-to-1 leverage future contracts, the likelihood of loss is within the excessive 90th percentile. Would folks really commerce these in the event that they knew they had been nearly assured to lose cash?”
When requested concerning the ethos behind Avanti Monetary, Lengthy additional remarked that “Satoshi gave us cash that isn’t debt,” noting that Avanti is dedicated to solvency as an alternative of liquidity. “Quite a lot of of us are obsessive about liquidity, however Satoshi didn’t create something designed to be leveraged and didn’t care about liquidity,” she mentioned. Lengthy moreover suggested the viewers to find out about circulation credit score.
Bitcoin’s community impact defined
The “Bitcoin for Billions, Not Billionaires” hearth chat that includes Elizabeth Stark, co-founder and CEO of Lightning Labs, and Lyn Alden, founding father of Lyn Alden Funding Technique, was additionally attention-grabbing. The dialogue targeted on the significance of Bitcoin’s community impact, one thing which each Stark and Alden are very obsessed with.
Alden defined that Bitcoin’s community impact is necessary to know when contemplating Bitcoin as an funding asset. The economist shared that, initially, she was cautious of masking Bitcoin as an asset class because of its open-source nature, which may simply be replicated, together with its large value run in 2017. Nevertheless, after watching Bitcoin’s community impact over time, Alden famous that the digital belongings may stand up to its rivals whereas additionally sustaining its sturdy, devoted group. “Over time, my conviction stored rising and rising. By the point we had the early 2021 liquidity concern, that’s after I lastly mentioned ‘I’m in,’” she mentioned.
After monitoring Bitcoin’s community impact for a while, Alden famous that her fascination prolonged to the Lighting Community, a layer-two cost protocol. She defined that in some methods, the layer-two facet is extra reliant on the community impact than Bitcoin’s base layer for the reason that key limitation of the second layer is liquidity:
“The stronger this will get over time, the extra usable the community will get as a protocol of worth. It’s been necessary to watch the community impact to see it proceed to develop. That is separate from Bitcoin’s value fluctuations, because the underlying fundamentals listed here are use instances and expertise enhancements, that are the important thing issues for Bitcoin’s success.”
Investing within the Bitcoin area for development
One other notable feminine speaker at Bitcoin 2021 was Hong Fang, CEO of OKCoin. Fang spoke on the “Giving Again to Bitcoin” panel, the place she mentioned the right way to prioritize investments within the Bitcoin area, who to spend money on, and the right way to make the Bitcoin group scalable. “As up to now, our funding in sponsoring the builders is as much as $1 million, which is about $500,000 a 12 months. To us, this can be a important sum of money, however while you consider the funding wants of builders, this can be a small quantity,” she mentioned. As such, Fang famous that it’s necessary to maintain Bitcoin developer funding diversified and versatile.
An attention-grabbing level concerning Bitcoin and decentralization was additional made by Alyse Killeen through the “Investing within the Bitcoin Ecosystem Panel.” Killeen informed Cointelegraph that the panel primarily targeted on the dangers that may happen when cash is centralized, corresponding to inflation. With this in thoughts, she defined the significance of Bitcoin’s decentralization:
“One of many needed issues for a thriving decentralized finance surroundings to exist is for decentralization to be current on the base layer. It doesn’t make sense to construct decentralized finance on software program managed by rulers. Bitcoin is a system of software program enforced by guidelines, however absent of rulers.”
New authorized necessities for Bitcoin
To Killeen’s level, there are a selection of guidelines related to Bitcoin. Hailey Lennon, companion at Anderson Kill regulation agency, and Teana Baker-Taylor, common supervisor for Crypto.com U.Okay., made this clear through the “Bitcoin Makes the Legal guidelines” session.
For instance, Baker-Taylor defined how the Monetary Motion Job Power, or FATF, pertains to Bitcoin. Particularly, she defined the privateness points led to by the Journey Rule, which goals to require particular person crypto customers to provide information when sending or receiving Bitcoin throughout any blockchain community. “How are we speculated to file and retailer this data, and who’s accountable for storing it? A number of issues should be put in place to permit digital asset service suppliers to be compliant with the Journey Rule,” she mentioned.
Lennon additional touched on the subject of secondary market laws, noting how nice it’s for corporations to now have completely different licensing choices:
“What all of the oversight is seeking to do is to be a supervisory position and to make sure there are client safety rights in there and that corporations are well-capitalized and have a compliance program. The method of getting these licenses is tedious and costly, however there are completely different choices now.”
It’s additionally necessary to say that there was one feminine artist featured on the occasion’s Bitcoin artwork gallery, which showcased an elaborate assortment of Bitcoin-inspired paintings from varied creators.
Trew Love, a muralist and combined media artist, informed Cointelegraph that she was found by NFT Glee — a nonfungible token platform for artists and creators — and was curated inside its assortment by Evie Phillips, chief advertising and marketing officer of NFT Glee.
Love famous that when she heard concerning the alternative to hitch the NFT curation, she started to mint her assortment. “I jumped on it and created an unique one-of-a-kind piece that includes Mike Tyson and a Bitcoin champion profitable belt. I consider Bitcoin is the coin to rule all of it,” she mentioned.
Whereas a handful of feminine audio system mentioned related matters on stage at Bitcoin 2021, notable feminine attendees had information to share with Cointelegraph.
Vanessa Grellet, head of portfolio development at CoinFund, informed Cointelegraph that she plans to achieve two main goals moving forward. Grellet famous that CoinFund will take a multi-strategy method to launch varied autos associated to completely different methods corresponding to NFTs, DeFi, farming and extra. “We wish to create particular autos for traders and to concentrate on these actions,” she commented. Secondly, Grellet defined that CoinFund can be increasing to develop into bi-coastal, together with a location in Miami.
Lisa Nestor, senior director of enterprise ecosystem for the Stellar Improvement Basis, informed Cointelegraph a couple of new partnership with Wyre, a blockchain funds firm. Nestor famous that the Stellar Community is powering a brand new Wyre Financial savings API the place fintechs can entry yield-earning financial savings merchandise leveraging USD Coin (USDC) on the Stellar blockchain.
Along with girls discussing firm development and innovation, some girls shed some perception on the standard of the convention. Mandy Campbell, head of content material for OKCoin, informed Cointelegraph that she had heard from a whole lot of inspiring girls at Bitcoin 2021:
“It’s clear there are increasingly more good girls pushing Bitcoin ahead day-after-day, each constructing the expertise and increasing the way it’s used. I noticed a whole lot of passionate feminine supporters in attendance as nicely. Bitcoin is for everybody, and the individuals who participated within the convention mirrored that.”
High quality over amount
General, whereas there have been considerably fewer girls audio system and attendees than males at Bitcoin 2021, the occasion was nonetheless high-level, informative and enjoyable. Shifting ahead, although, the Bitcoin group might begin to see extra girls participation at conferences as the subject good points momentum.
As an illustration, Teodora Atanasova, VIP relations supervisor and founding crew member at crypto-friendly financial institution Nexo, informed Cointelegraph that Nexo sponsored the Bitcoin artwork gallery at Bitcoin 2021. Atanasova talked about that she wasn’t beforehand conscious that just one feminine artist was featured on the gallery. As such, Atanasova mentioned she would guarantee that extra girls are current and featured at Nexo’s upcoming occasions.
“The Bitcoin 2021 Artwork Gallery began as a trigger — bodily bringing collectively the expertise that already had rather a lot in frequent conceptually. As an organization, Nexo helps varied causes, however since we maintain monetary literacy — and, thus, freedom — for girls particularly near our hearts, we’d like to see extra feminine artists step ahead and take part as exhibitors on the subsequent Bitcoin Artwork Gallery going ahead.”