Institutions made their presence known at Paris Blockchain Week, with a notable absence from African representatives.
Paris, France played host to the recent Paris Blockchain Week, an event that brought together industry leaders, innovators, and enthusiasts from around the globe. During the visit, the author had the opportunity to witness iconic landmarks such as the Eiffel Tower, Arc de Triomphe, and Palais Garnier, while the Louvre remained unvisited.
The conference was marked by a significant takeaway: institutions may now be the most potent drivers for the adoption of blockchain technology. Institutions, especially those in finance, were actively participating in the conversation, with representation from Accenture, the Bank for International Settlements (BIS), Mastercard, PwC, UBS, Goldman Sachs, Visa, the London Stock Exchange, KPMG, the Bank of France, and others.
The focus of the conference was on real-world utility, steering clear of speculation that often surrounds the blockchain industry. Themes discussed included Bitcoin, stablecoins, DePIN, tokenization, institutional and retail adoption, and regulation. AXA Investment Managers, for instance, shared their experiments with blockchain for digital central bank money settlement, a project involving the European Central Bank (ECB) and Banque de France's tokenized cash solution.
However, the lack of African representation at the event raises questions about Africa being left behind in the global economic evolution. The author expressed a hope for more African builders to be present at global events, not as exceptions, but as essential voices in the room. Access to these events, the author emphasized, is less about talent or interest and more about privilege, with factors such as visa hurdles, steep travel costs, and participation fees often acting as barriers.
To truly benefit from blockchain innovation, Africa needs its own flagship blockchain event, rooted in local ecosystems, such as Mariblock. This event aims to fill the gap of a local flagship blockchain event that welcomes global participation. The author underscored the importance of presence in global events for idea exchange, influence shaping, and opportunity creation.
The conference also highlighted the potential of blockchain technology in addressing African narratives, such as financial inclusion and cross-border payments. However, African builders and entrepreneurs remain underrepresented, a situation that needs to change for Africa to fully participate in the global blockchain revolution.
In another context, a KPMG report related to Hong Kong banks highlighted moderate balance sheet growth amid global uncertainty in 2024, and the sector's progress in digital innovation, including blockchain technology applications by the Hong Kong Monetary Authority (HKMA) for wholesale CBDCs and retail CBDCs (e-HKD). This report underscores the global momentum towards blockchain adoption, a trend that is likely to continue in the future.
Paris Blockchain Week offered a unique blend of business opportunities and tourist attractions, making it an event worthy of consideration for those interested in the blockchain industry. As the industry continues to evolve, it is crucial for Africa and its builders to be part of these global conversations to ensure they are not left behind.
- Though Africa was not as visibly represented at the Paris Blockchain Week, it's crucial for more African builders to be present at these events, not as exceptions, but as essential voices in the room.
- The Paris Blockchain Week showcased the growing momentum towards blockchain adoption, evidenced by the participation of institutions such as Accenture, Goldman Sachs, and the Bank of France.
- The discussions at the conference spanned various topics, including digital central bank money settlement, Bitcoin, stablecoins, tokenization, and regulation, demonstrating the versatility of blockchain technology in diverse financial applications.
- Despite the progress made in blockchain technology, there's a need for a local flagship blockchain event in Africa, like Mariblock, to encourage local ecosystem growth and ensure African participation in the global blockchain revolution.5.Addressing African narratives, such as financial inclusion and cross-border payments, could be a significant use case for blockchain technology in the continent, but this potential can only be realized with more African representation and involvement.
- As the blockchain industry continues to evolve, the absence of African builders and entrepreneurs risks leaving the continent behind in this economic evolution and technological advancement.
- The Paris Blockchain Week provided a unique platform for networking, learning, and exploring the potential of blockchain technology, not just for business opportunities, but also for shaping dialogues that influence the global blockchain landscape.
