This weekend, I went back to college…in the sense that I traveled up north to the Midwest Blockchain Conference, which was held on the University of Michigan’s campus.
The fact that I was the sole reporter at the event meant that I could talk freely with eager students interested in the crypto industry. The speakers and workshop facilitators were also available to me, guiding the students along their way.
In Ann Arbor, students from the University of Kansas and Vanderbilt, as well as the University of Illinois, were present. There was a positive vibe, and a lot was said about the future of crypto after last week’s results.
Next generation developers, builders, and investors sat side-by-side in their school shirts, eating tacos alongside industry professionals from EY who had a large presence at the event.
What’s the point of a crypto-conference without some fun? I was surprised to see an artist dressed as a Bitcoin, Idris, when I first arrived. He told me that it was his very first blockchain conference.
The session led by Hype’s founder Ravi Bakhai was one of the most exciting and energetic events. He delved into the world memecoins and captured both students and industry professionals.
Bakhai believes that Memecoins may be risky to invest in, but can make you rich.
Bakhai said that memes weren’t just for Crypto Twitter anymore; TikTok has become the go-to place for anyone who wants to stay on top of memecoin cycles. The He named it ” “TikTok-ification of finance,” It is important to emphasize how quickly these trends develop. He shared an example of how a memecoin skyrocketed by 1,000% within 18 minutes.
“In the US, this is how we get retail back into crypto,” Bakhai tells Blockworks.
There was more than memecoin fever. Other industry professionals, such as Daniel Feder and Brandon Schroedle, from a16z and Volt Capital, and people from the endowment of the university were also interviewed. Both spoke of the interest the university has in crypto, and their opinions on the industry.
Feder informed the crowded room that Feder’s endowment is over $20 billion. After 30 minutes, the two spent time explaining to their audience why UMich has an interest in crypto.
It is important to note that the word “you” means “you”. “financial system in the US is very outdated…it’s been cobbled together,” Schroedle said. He is excited not only about the potential of DePIN, but also by crypto’s diversification.
Feder, however, argued that crypto shouldn’t be its own asset class — though that hasn’t dampened his bullish outlook. He emphasized that the key for institutions will be the continuing rise in institutional interest.
Jane Lippencott from a16z also forecast a possible “AI winter” Volt’s Soona Amaz shares the how-to’s for pitching to VCs.
Overall the feeling at the conference was very positive. The excitement in the air was tangible.
This writer noticed that the next generation is already crypto-savvy, and they are poised to close the gaps as they enter the crypto industry.
Coinbase, which also sent a recruiter to the student event in question, published in June a report that showed the US had lost significant market share in the development sector due in part to the uncertainty of its regulatory framework.
If the regulatory climate becomes more secure, then the talent pool will be right there and ready to pick.
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