Consensus turning out to be a disappointment to its participants?

16 May, 2018
by Matthew Kim
Consensus turning out to be a disappointment to its participants?

With day 2 of Consensus 2018 behind us, is the event turning out to be a disappointment to its participants?

Consensus, a 3 day conference held by CoinDesk, is an annual blockchain technology summit held in New York City. The conference claims to gather the leading industry startups, investors, financial institutions, and enterprise tech leaders who are building the foundations of the blockchain and digital currency economy. It is considered by many the place where “the best and brightest minds in blockchain congregate to help shape the future of this exciting new frontier”, as Matthew Roszak, the co-founder of Bloq, states.

Then why is it that so many entrepreneurs, investors, and enthusiasts are coming out dissatisfied and uninformed from the talks?

Despite the enthusiasm with which many attendees entered the conference, many are exiting each talk less and less impressed. Often times, the presentations are lacking in substance, filled to the brim with grandiose promises but devoid of details.

However, these talks probably reflect the nature of the current state of cryptocurrency projects: descriptive whitepapers detailing an impressive visions and goals that fall flat on tangible development. Of course, this is not the case with all projects, but many of the thousands of projects that exist within the space are essentially like those decorative fruits at an elderly’s house - they are pleasing to the eye, but they are not what they seem. It is no wonder that many of the speakers at the conference end up spewing vague ideas with minimal technical detail.

If there is any doubt to the comical quality of the events, one does not need to look further than the last panel for the second day of the conference: “When Moon”. Although the phrase is infamous within the crypto bubble, it highlights the immaturity that the crypto community is failing to escape from as of now. As expected, the panel offered unhelpful content that taught little about the actual implementation of blockchain technology.

Perhaps Vitalik Buterin and others who boycotted the conference were onto something. Consensus has become more of a money-grab occurrence rather than a culmination of conscious efforts to inform the world of the wonderful technology that is blockchain. Even though attendees of the conference have been able to interact and share with thousands of others who are enamored with the subject, Consensus lamentably falls short of showcasing blockchain technology to the world. Hopefully, the crypto community can begin to see the need for change and rally to properly represent the revolutionary technology that is fueling this movement in the future.

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