South by Southwest 2018

South by Southwest 2018 Make Cryptocurrencies Center of Discussion

South by Southwest 2018 conference (SXSW), held in Austin, Texas, made cryptocurrencies the center of the discussion this year. The organizers of the conference made a public announcement last year that they would include sessions related to cryptocurrencies and their underlying blockchain technology. Notably, the venue for South by Southwest 2018 was full of names like “The Blokhaus” and “Initial Taco Offering.”

South by Southwest 2018, Starting with Ethereum Co-Founder Joseph Lubin

The South by Southwest 2018 event started with Ethereum Co-Founder Joseph Lubin who talked about “Why Ethereum Would Change the World.” In this session, Lubin elaborated on how he became a lot more interested in blockchain technology and the Ethereum Project. He also shared his vision for ConsenSys, a blockchain software technology company.

Joseph Lubin then went over how the creation of Bitcoin in 2009 led to other creations. He explained the fact that Bitcoin was pivotal in introducing blockchain technology, which many in the industry consider as a trustworthy database system. He further added that this technology would eventually lead to “crypto economics”, which might make it possible to develop more use cases blockchain technology.

Here is how Joseph Lubin defined crypto economics:

Crypto economics is a way of doing incentivized mechanism design to enable many actors to contribute their resources to validating transactions and securing that network. This is the first time in history where we’ve seen a money system built in a fully decentralized way that is essentially of the people, by the people, and for the people.

Creation of Ethereum by Vitalik Buterin

Lubin explained that the creation of Bitcoin also led to the development of Ethereum by Vitalik Buterin in 2013. He elaborated on how they envisioned Ethereum to be a scalable system for human action and a platform to make decentralized applications. He shared the reason for his involvement, which is primarily based on so many possibilities that blockchain technology could offer for different industries like content creation, supply chain management, and the health sector.

For content creation, Lubin gave the example of Ujo Music, an Ethereum based platform that artists can use to upload their content without having the need to go through a third party. Lubin also pointed out that after some time the users of Ujo Music would be able to manage everything via a mobile app or their desktop PC and even act as their own agents & managers.

The Bad Crypto Podcast

The conference also featured the “Bad Crypto Podcast” by Travis Wright and Joel Comm, which focused on the more serious cryptocurrency topics in a fun way. Furthermore, the Live from South by Southwest 2018 podcast at “The Blokhaus” covered interviews of leading blockchain designer Charles Bell, and founder of the World Tokenomic Forum, Chris Snook. The discussions touched on topics like blockchain technology, smart contracts and the building of multiple blockchains for scalability.

What Does A Conference Like This Mean For Crypto?

The inclusion of cryptocurrencies and blockchain technology in discussions at South by Southwest 2018 indicate the rising interest of technology enthusiasts in this domain. Hopefully, more of the future tech events and conferences are going to include cryptocurrency and blockchain panels as the crypto ecosystem continues to grow and evolve.