In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see.
Last May, the dressed-up shop fronts that line both sides of the Promenade street running through the Swiss ski resort were dominated by crypto firms, rolling in bitcoin.
"I hope there's an increased focus on utility value and practical applications of the technology, and less focus on retail investors chasing meme coins," Jeremy Allaire, CEO of USDC stablecoin issuer Circle, said.Former Reserve Bank of India Governor Raghuram Rajan believes last year's plunge in digital assets allows investors to focus on the true value of the technology.
"We have been always ignoring the noise. All our partners were here last year. They are here this year," Tokarev added. "There is a place for trading use cases but they cannot be the singular focus, we need to move to more real use cases and put attention there," said Denelle Dixon, CEO of Stellar Development Foundation, which supports the Stellar blockchain.While interest remains in the technology, the conversation is turning to responsibility., told a WEF panel that blockchain technology will help reduce costs for banks.
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