Reboot and Retrospect
Everyone knows that money is going digital, but how it gets there is a point of vibrant debate. And what a difference a year makes. The Digital Money Forum 2018 dovetailed with cryptos highest-ever market cap. 2019, the lowest. Justifiably this year’s forum became a year of soul searching and retrospection.
The great news? The fintech community has brought a vibrancy and equality to finances through new technologies like robochat, AI, voice and better UI experiences. Go blockchain has become the mantra for organizations looking to move their businesses in more transparent, efficient and accountable processes. Regulators around the world are taking a lead in creating safe crypto practices to encourage innovation. New companies are launching corporate-grade financial products that are making crypto investments safe, if not safer than fiat. Hardware companies are creating new chips and new devices to take advantage of the benefits of being on the blockchain. The smartest people in the room are seeing a future where the word “digital” in “digital money” disappears. It’s just money after all.
Surviving Crypto Winter
As we speed toward the digitization of everything, money has not been ignored. It’s just, as we say, “complicated.” On one hand, you’ve got new fintech companies working with existing institutions to make the exchange of money frictionless and less costly. On the other hand, you’ve got new paradigms for systems of exchange that require nothing short of building a new Internet. Blockchain and cryptocurrencies are at its foundation.
Just one year ago, the 2018 Digital Money Forum had a carnival-like atmosphere where giddy prophets who bet on the future looked like winners. The total market capitalization of crypto assets reached an all-time peak of $835 billion. Cryptocoins with tickers such as $BTC, $ETH, $XRP, and $XLM became everyday parlance.
2019? Big sigh. Big bloodbath. The crypto market cap stood at $109 billion and bitcoin, the market benchmark, was trading at $3,400, well down from its peak above $19,500 a year earlier.
Yet, despite the bucket of cold water that doused the markets, there are more new projects, with more clarity and groundedness than ever. Fintech startups raised more than $32 billion in venture funding to the end of the third quarter of 2018. The “suits” from big financial companies are paying close attention. And regulators are getting their act together.
The price of crypto is down because the market was in an irrational state. It was a necessary correction. The best projects are built in down markets when talent can be retained.
The ICO community had great ideas but it had outstripped the ability of the legal technology infrastructure to serve it. Blockchains are fundamentally legal technologies– evidence-based.
Bridges between the past and the future are really important. Stable coins are partnerships that hold money on behalf of token holders in a way that is consistent with regulation.
The market is becoming deeper and more liquid. We’ll be able to go back and forth between crypto and other banking functions.
2019 Digital Money Conference Sessions
Painted the New Era of Digital Money
Mt Gox, Silk Road, the early days were pretty big black eyes on the industry. We’ve fought hard to make policy makers, regulators and public understand the benefits of blockchain.
The world is decentralizing and that means it’s going to decentralize venture capital which means which means that the entrepreneur will be that much close to the money.
We’re seeing an amazing amount of activity around security tokens — tokenizing real world assets. The institutional class of investors is starting to get more serious, a sign of a healthy future.
Regulation and tokenomics are wildly misunderstood. In 2019, and early 2020, we’ll hopefully have more clarity on the federal level than we do today. Now, they’re driving American innovation out of the country.
Up and Comers Announced
A study conducted by MINDBODY & MoneyLion showed the correlation between physical & financial fitness
Mariana Danilovic proved to us that great new financial ideas are not in short supply.
Devvio announced its Devv blockchain technology, a high-performance next-gen blockchain protocol
VaultLogic.com’s ATM machine doesn’t really care want sort of currency you’d like dispensed.
Celsius: The CEO of this company was the creator of VOIP (Voice Over IP). Now he’s creating of MOIP (Money Over IP).
Looking Ahead to 2020
From Fintechs that are changing the way we bank, invest, save and make payments to the tumult of cryptocurrency, blockchain, STOs and ICOs, we’re witnessing both evolutionary and revolutionary changes in our most fundamental institutions.
The Digital Money Forum focuses on the key technologies driving digital payments, fintech and emerging blockchain solutions to world’s largest audience of tech adopters … the 180,000 attendees of CES, the worlds gathering place for innovation.
The Digital Money Forum looks at the how quickly the financial tectonics are shifting to shape a new economy. From e-wallets to mobile payment systems, from cryptocurrency to blockchain solutions, from AI to robo-advisors, and loyalty rewards to e-commerce, the Digital Money Forum is designed to educate our industry about the digitization of money and transactions.
Is it 2020 yet? Click to receive our prospectus on Speaking and Exhibiting at CES 2020.
2020 Topics Will Include:
- AI and Machine Learning Meet Fintech
- RoboChats, Voice and New Interfaces
- Safety and Security
- IDentity Management
- How New Hardware will Help the Digital Money Transformation
- The Future of Fintech
- Privacy vs. Data
- The Arrival of the Suits into the Block-o-sphere
- What Can Google, Wikipedia, and Facebook Learn from Blockchain Models