With the launch of the Verida testnet network imminent, we’re committed to reward and recognize all the hard work of our community. Our…
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Blockchain Week 2022 concluded last week in Australia, and was a ‘stake in the ground’ moment for the industry coming together in-person for the first time since the start of the pandemic. It marked a turning point, where blockchain has become mainstream. The many different pockets of innovation showcased a breadth, depth, and excitement of the blockchain and crypto space in Australia.
From Defi projects and indie start-ups to banks, Government and policy makers, the range of guests represented great maturation in the last few years. As proud members and supports of Blockchain Australia, Verida attended the festival. Chris Were, Ryan Kris, Nick Lothian and Yolanda Sam from the team were present at the various events across Australia.
The entire event, much like the industry, was a melting pot of opportunity. This symbolizes the widespread excitement and commitment to embrace a decentralized future, both practically and philosophically. It’s a new open, permissionless world that welcomes and makes space for us all.
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Blockchain Week kicked off with a ‘green light’ from large institutions and government regulators. Senator Andrew Bragg announced a new ‘Digital Services Act’, which lays the groundwork for a new digital asset ecosystem in Australia. It was a moment of recognition signaling the maturity and readiness for adoption of blockchain technology. The planned Act represents Australia’s ambitions to lead by example the incorporation of the crypto industry embedded into our daily lives. The first step has been the release of a consultation paper by The Treasury.
A second breakthrough moment on Monday was Sam Bankman-Fried’s announcement of the FTX Australia launch. There was a sense of excitement and a profound ‘this is real’ moment, particularly with discussions on the banking and corporate side. From internal research to rolling out pilots on consumer products (such as Commonwealth Bank’s in-app crypto services), mass adoption is happening faster than we ever envisioned.
Tuesday was a showcase of use case success stories. The ecosystem growth of the Solana blockchain, the attention on the Australian NFT platform, ImmutableX, the innovative approach Algorand have used to scale, and the June target for the Ethereum Proof-of-Stake (PoS) merge. The second day of Australian Blockchain Week highlighted how early enterprises get adoption and grow incredibly fast.
