June 12, 2021
  • June 12, 2021

Bitcoin 2021 conference reflects interest in virtual money

By on June 5, 2021 0

Miami, United States, June 4 (EFE) .- The Bitcoin 2021 conference, which appears to be the largest virtual currency event in history, began on Friday in Miami, United States, with full attendance and optimistic messages about how financial freedom and non-brokerage can “change everything”.

A long line of thousands of people in front of the Mana Convention Center in the Wynwood district, location of the event, as well as corridors crowded with visitors testify to the interest aroused by this meeting.

The event was opened by Miami Mayor Francis Suarez, who spoke in the boardroom about his crusade to make the city “a technological leader in the world”.

Suarez praised the move from New York to Miami of the U.S. headquarters of cryptocurrency firm blockchain.com, which he himself announced Thursday with company chairman Peter Smith, which is expected to create 300 new jobs in the next two years.

“It’s not a moment, it’s a movement,” he said.

Miami has seen the landing of several major tech companies in recent months, which the mayor hailed in hopes of making Miami an industry hub.

This week, the iconic American Airlines Arena for sports competitions, concerts and other mass events, located in the city center, changed its sign to another with its new name, FTX Arena, as part of the deal. signed by the city with the cryptocurrency company.

“The context of cryptocurrencies is to try to give power back to the people and to take power away from the institutions and we are trying to reaffirm that,” Alex Gambon, director of cryptocurrency firm Elongate, told EFE.

In its first eight weeks, this company raised over $ 3 million for charity, through alliances such as the one it made with the Big Green organization, owned by Tesla’s brother Kimbal Musk. and founder of Space X Elon Musk, to create gardens in the slums.

“We have seen that it is a great force for decentralization and that it brings power back to ordinary people,” Gambon said with conviction.

Like him, the age of the vast majority of participants in the event, which over its two days is expected to attract up to 50,000 people, is between 30 and 40 years old.

The thousands of participants in the search for technological opportunities, investments and new digital financial uses are mostly young professionals who have adopted the philosophy of crypto-currencies and evolve in opposition to traditional banking.

The show held within the convention center is a diverse cross section of businesses that accept cryptocurrency as a form of payment, including jewelry stores, watch brands, real estate developers, video games, and even the famous Playboy magazine.

“What I really see is that no matter how much doubt there is around cryptocurrency, it is a movement, it is happening and nothing will be able to change it, over time people will start. to trust him, “Moshe Mana, president of Mana Common, one of the promoters of the event, told EFE.

Mana, who has a fortune of over $ 1 billion in properties in Miami, said for Latin America cryptocurrencies may be an alternative to the “high interests” of some financial institutions which are a barrier. for, for example, small farmers.

Despite the complexity of the world of crypto-currencies (there are more than 4,000 of them), this trend which mixes economics, mathematics, the internet and “blockchain” technology is moving billions of dollars in transactions, bitcoin being the most famous and the most valuable in the market.

Former Congressman Ron Paul and cryptographer, lawyer and computer scientist Nick Szabo were among the speakers at the event on day one.

According to Szabo, who spoke about the history of currency and came up with something similar to cryptocurrencies in the 1990s, virtual currency solves a number of fundamental historical shortcomings in precious metals and fiat money. He gave examples such as expensive delivery and insecure custody, expensive and / or trust-based validation, and digital centralization.

It also featured an intervention from CEO of Twitter and co-founder of U.S. digital payments firm Square, Jack Dorsey, who said cryptocurrencies have properties that can help achieve financial sovereignty and serve the unbanked population who abounds in developing countries.

“For me, bitcoin changes everything,” said Dorsey, who has promised that he will do everything possible from his position to make these virtual currencies as quickly as possible accessible to everyone and for everything.

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