It’s been broken – yes, about 3000 investors, bankers, and entrepreneurs in last week gathered at neo-classical Palais Brogniart in Paris (a conference venue) and discussed the declining crypto market sentiments.
According to the reports, all such investors and enthusiasts during last year gathered at the same venue to discuss blockchain technology. Unfortunately, the market is screaming with negative figures and these enthusiasts are turning their way back to banking.
Crypto for Fintech is Over
As per the reports, the crypto market is on a continuous decline. In fact, top 10 crypto assets are in the extremely low graph, losing almost 80 percent in last one year. Will Andrich, the CEO of Switzerland’s Thaler.one, says;
“I nearly lost my whole team to cryptocurrencies, which says it creates real estate-backed digital securities”
The lost skepticism on cryptocurrency can be highly appeared across Fintech firms – such that, they now feel, the technology behind cryptocurrency may not be convenient now, particularly for an industry that’s highly governed by regulators. Moreover, the conference venue which was once a stock market has marked the appearance of few leading names such as Christine Lagarde, managing director of the International Monetary Fund, Kathryn Petralia, a co-founder of Kabbage Inc., Francois Villeroy de Galhau, governor of the Bank of France, and many others.
Unlike crypto, the conference has also had a talk on supply chain; Ann Cairns, the VC at Mastercard Inc says;
“I’m pretty excited about supply chains,”
Do you also think the cryptocurrency fever for fintech is over? share your opinion with us.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com