[ad_1]
Thousands of cryptocurrency enthusiasts gather Miami The city is building its reputation as one of the key locations for developing blockchain technology despite its poor status.
Dozens of companies are using the Bitcoin 2022 conference, which runs from Wednesday to Saturday, as a venue to network, present ideas, and share announcements.
New York City and Silicon Valley continued to lead in funding from blockchain startups with $6.5 billion and $3.9 billion in 2021. However Miami It is now linked to Los Angeles, where the companies have raised more than $760 million in funding, according to market research firm CB Insights.
Cryptocurrency exchange FTX acquires naming rights to downtown NBA arena Miami last year, it replaced American Airlines. Biggest crypto company to move Miami So far, Blockchain.com will house 200 employees somewhere in the popular Wynwood district, where other tech firms are also set up shop.
“Wynwood really has the kind of spirit you look for when a new tech industry is built,” said Peter Smith, CEO and co-founder of Blockchain.com, comparing it to San Francisco’s South of Market neighborhood. New York Cityin Brooklyn.
Most talk about a warm environment developed by local authorities, especially Miami It’s Mayor Francis Suarez who caught the nation’s attention by attracting tech investments and as one of America’s crypto-friendly mayors.
Others, both Miami and Florida is business friendly and has remained open during the pandemic, making it more attractive as a location.
“It is hard to deny that this is a great opportunity for companies to come here and develop their projects in crypto,” said John Bartleman, CEO of Florida-based TradeStation Plantation, a multi-wealth broker.
Bartleman’s company commissioned an 11-foot (3-metre) robot-like sculpture of a bull intended to mimic Wall Street’s “Charging Bull.” The artwork was unveiled Wednesday by Mayor Suarez to a cheery crowd kicking off the conference in Miami Beach.
“Welcome to the future of finance,” Suarez said.
All this enthusiasm is in sharp contrast to bitcoin’s rough year. Financially, the cryptocurrency hit $67,553.95 in November, just before it nearly halved in late January; It’s down roughly 30% since November’s high. Bitcoin is also largely absent from many of the hottest trends in crypto, such as immutable tokens or NFTs, which allegedly offer a way to auction “unique” copies of digital art and other cyber objects.
More generally, critics have questioned the assumptions underlying the alleged value and utility of crypto technology, with some comparing the hype and hitherto unrealized promises of blockchain technologies to a Ponzi scheme that benefits early participants but puts everyone else at risk.
Kathy Kraninger leads regulatory affairs for Solidus Labs, a company that monitors digital asset risks. The former director of the US Consumer Financial Protection Bureau said the industry is “not the Wild West” but challenges remain.
“We believe many companies in the industry should come forward and really think about technical standards on how to protect investors and how to build wisely,” he said, adding that 30 companies are joining an effort to educate people on best practices. identify manipulative activities and what measures can prevent abuse of the crypto market.
Aspect Miami Bitcoin 2022 organizers aim to attract more investment, say at least 75 companies will announce at the conference.
Last year, El Salvador President Nayib Bukele made international news at the event, announcing via video that his country will be the first country to put its cryptocurrency at legal tender. Bukele will be at the conference.
One of the most anticipated announcements could come from Jack Mallers, 27, CEO of bitcoin payments app Strike, which is working with the Bukele government on a nationwide bitcoin launch.
Mallers also became a partner excitement To make it possible to send digital money as a “tip” without the need for a bank like Cash App and PayPal, sync his app with the social network and show in a video how he sent 10 dollars to a Salvadoran man at Starbucks.
We’ll see what this effort brings in the future. South Florida saw its population decline by more than 18,000 between July 2020 and July 2021. And critics worry that the city doesn’t have a top university that could create the workforce to develop companies like the Bay Area and the Bay Area. new York to do.
However Miami Businessman Josip Rupena, who will be speaking at the conference about his crypto mortgage initiative, said it will take several years of effort.
Rupena’s company Milo has received $24 million in venture funding from investors to become a lender to people who have made substantial digital wealth.
“For the first time, I think we have a platform and a national platform to tell others that there are really a lot of smart and talented people here. It’s great that we were able to reinforce that message,” Rupena said.
[ad_2]
Source link