Blockchain Week 2024: Aussie Crypto Experts Mix Insights and Whisky In Industry Talk

Australian Blockchain Week 2024 is the flagship gathering for the Blockchain & Digital Currency Industry Downunder. Blockchain Week kicked off in Sydney, blending discussions of blockchain and Whisky with industry leaders. The four-day event, themed “The Digital Convergence” took place from June 11th to 14th in multiple iconic venues across Sydney, coinciding with the Vivid Sydney festival.

The week-long event aims to drive innovation and growth in the digital economy through a series of activities such as roundtables, live panels, fireside chats, a Fringe Festival, NFT art galleries, workshops, and afterparties. Key topics will include the evolving landscape of digital assets, decentralized physical infrastructure, and the integration of Web3 technologies with AI and quantum computing.

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Aussie Crypto Experts Mix Insights and Whisky in Industry Talk

During the conference, Aussie crypto experts and leaders discussed their respective industry insight and opinion.

Tommy Honan from Swyftx detailed challenges in the Australian crypto market, emphasising regulatory hurdles and banking vulnerabilities.

Andrew Vranjes of Blockdaemon discussed DeFi innovations and strong institutional crypto adoption in APAC.

Blockdaemon VP of Sales, Andrew Vranjes and Swyftx Head of Product, Tommy Honan, sat down to discuss the latest industry insights and “a shared love for whisky”.

Honan provided an overview of Swyftx’s position in the Australian cryptocurrency market, detailing several key aspects of the company’s operations and challenges.  He noted that Swyftx has a substantial user base, with 750,000 clients engaged in various crypto transactions.

However, Honan also addressed several regulatory hurdles that Swyftx and similar companies encounter.  He specifically mentioned the regulatory limitations affecting derivatives trading due to local laws.

Additionally, Honan raised concerns regarding the potential risks and vulnerabilities in the Australian banking sector that could affect crypto operations.  He highlighted the need for robust and supportive regulatory frameworks to mitigate these risks, ensuring a secure environment for crypto transactions.

Vranjes said Blockdaemon is excited about “DeFi innovations and the potential of re-staking technologies”.   The company is also experiencing strong institutional adoption in the region especially in Japan, South Korea and Hong Kong.

Much of this institutional adoption seems to be driven by Spot Bitcoin ETF approvals worldwide.   According to The Bold Report around 5% or 1,076,000 BTC of all BTC are held in these funds worldwide.

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Final Words

Supported by Crypto.com, Take3, Chainanalysis, Protocol Theory, and Swyftx, Blockchain Week 2024 brought together business leaders, tech entrepreneurs, policymakers, investors, blockchain enthusiasts, as well as DLT builders and innovators.

During the four-day event, speakers and industry leaders delivered keynotes on the most trending topics, covering topics like the practicalities and implications of CBDCs and stablecoins, digital ID, decentralisation and regulation, compliance, cloud infrastructure, financial technology, custody solutions, AI and Web3 integration, tokenisation, and the evolving landscape of payments and digital currency exchanges.

While Australia’s digital economy is rapidly expanding, navigating the intricacies of blockchain and distributed ledger technology (DLT) is crucial for businesses looking to leverage the technology effectively. By organizing events Blockchain Week, Blockchain Australia enables industry players to exchange knowledge, collaborate, and propel the country’s position as a major DLT player on the global stage.

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