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Markets Be Damned! Let The Crypto Event Circus Roll On

Even as the cryptomarkets (especially ETH) lurch through a phase of heightened volatility and decidedly renewed bearish momentum as we head into Q4, the global crypto event jamboree continues unabated. The next big event around the corner is Consensus Singapore. Crypto faithful can pay upwards of $2000 ($1999 to be precise) for the privilege of attending. Interestingly enough, a number of smaller events and meetings and parties happen around the main conference, and these are far most interesting and provide for the possibility of deeper, meaningful conversations, going beyond the mandatory routine of business card/telegram id exchange.

One can’t resist drawing a parallel here to Webster Hall in NYC from a couple of decades ago, when well-heeled Manhattan locals would shun this massive, very-much non-exclusive club ($10 entry fee which covered a drink as well!) as one for the BTCs (not bitcoin, but Bridge &Tunnel crowd, apparently), basically folks that came into Manhattan from Queens or Brooklyn or Long Island for a night out; The music was good, and the drinks were cheap, and that is always hard to beat.

Wish one could say the same about Consensus!

Meanwhile in Crypto Wonderland….

“More Regulation, Yay!” In a letter called “General provisions on operations related to electronic payment funds”, the state bank Banxico has mandated that all banks looking to deal in crypto will now require a permit issued by it. Further, it has introduced new rules such as new accounts being unable to purchase crypto on the same day as opening of the account.

“Crypto Visa” Crypto.com, a Hong-Kong based company formally known as Monaco, has just applied for a license to prepare 100,000 “crypto” Visa Cards. The cards, which are targeted to be launched first in Singapore (and later the rest of Asia), are designed to be able to enable users to convert digital currency into fiat on the go.

“Huge Potential Ahead” Joseph Lubin, one of the many co-founders of Ethereum and the founder of blockchain company ConsenSys recently appeared on CNN Money to speak about the current state of crypto markets and development. Lubin suggested that the 2017 boom was instrumental in generating awareness about crypto and helped in getting more people, especially developers involved with various blockchain products.

“Funny Brit News” Bitcoin and cryptocurrencies recently featured on British soap opera Coronation Street, a TV programme watched by around 8 million people per episode. The show features one of its characters getting rich by the old school rags-to-riches trade of buying Bitcoin (called Whipcoin in the show (?!)) early on and then seeing the value skyrocket.

Crypto Twitter Pick

What We Are Reading / Listening To

How Crypto will Grow as an Asset Class by Fortune Magazine

Your Crypto ‘Stable Coin’ Isn’t Tethered to Anything by MarketWatch

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Ramani Ramachandran

Ramani Ramachandran (Ram) has close to two decades of experience across consulting, IT, product management, corporate development and investment banking across the US, Europe and Asia. Ram has a B.Tech from the National Institute of Technology, Calicut, a PGDM from the IIM Lucknow and an MBA from MIT Sloan.

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