Crypto Valley Conference 2022: YouHodler Review

The two-day Crypto Valley Conference 2022 (CVC) just concluded in Rotkreuz in which YouHodler played a part. We first want to thank everyone who organized, attended, and participated in this amazing event. It was both fun and intellectually stimulating.

While we had a CVC in 2021, it was mostly a restricted event due to the Covid regulations at the time. CVC 2022 was much larger, fully open, and with zero restrictions. We were joined at the event by representatives from Bancor, Cardano, Coinbase, FireBlocks, Ledger, Signum, SwissBorg, and many more. 

For those that couldn’t make it, we wanted to share some scenes and stories from the experience. 

What makes CVC different from other blockchain conferences?

For those that have been in this industry for some time, then you have an idea of what the average blockchain conference is like. While every conference is great for networking, there is always a lot of “fluff” in between. As a result, many of these conferences end up becoming glorified parties where socializing overshadows productivity. 

That is certainly the case in world-famous conferences like the Bitcoin conference “on the ocean”. However, Switzerland is not Miami. CVC 2022 operated in a classic Swiss fashion - efficient, productive, and intelligent. 

Over 700 people attended this year’s event and there was certainly no “glitz and glamor.” Everyone that presented was highly educated and professional. The event consisted mostly of high-level discussion and networking with a small allotment of time dedicated to recreation. Over two days, presentations and panel discussions centered around four important topics (seen below).

Terra (LUNA) and its ultimate effect on the global crypto economy

The complete collapse of Terra (LUNA) and the UST stablecoin sent shockwaves through the industry. Unsurprisingly, it was a key talking point at CVC 2022. The issue was also magnified by the overall poor performance of the global economy and talks of recession. Despite all the cause for concern, everyone at the conference remained positive.

We concluded that through this detrimental movement, the market has proved its resilience. Even after the Terra scandal, the market remained strong. Other stablecoins survived and legitimate projects were not taking large hits. 

A few other Terra-like events have occurred since the meeting but we still are confident in the strength of the market. We also point out that the crypto market is not the only market hurting right now. Traditional stock and securities markets are also in a bear market which is a good sign. If crypto was collapsing while the stock market was strong, that is a different story. 

‍Web 3.0

Web 3.0 – or simply Web3 – was a popular topic at CVC 2022. This is far from a fad but the future of the internet and we are currently in the transition phase. Unlike Web 2.0, decentralization will play a major role in Web3.=. 

This is the first time in history that blockchain technology will be a crucial foundation of the internet. The details regarding how blockchain will support Web3 are still being discussed but we do know a few points already.

For one, we can see many different service providers currently contributing to Web3. While that may seem good on the outside, we discussed how many are just trying to take advantage of the hype and use Web3 to promote their private interests. In reality, they are not offering anything productive to Web3. 

Hence, the conclusion of our panel discussions on Web3 were that we should continue to think about this trend and be excited about it. However, we should be careful when working with various providers because many of them have no direction. 

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Regulation

Of course, regulation is always an important topic of discussion at crypto conferences. At CVC 2022, it was a central talking point for every presenter. As many know, Switzerland is an international model for how to properly regulate financial services. So it was quite fascinating having some of the brightest minds in this niche speak on crypto regulation and where they think it should go.

At the moment, crypto industry regulation is very large but fragmented. Every niche plays by a different set of rules and every country also has different regulations for platforms to follow. What we are left with is an unorganized structure that’s costly for startups to maintain and follow. 

So professionals from the industry are attempting to put a unified regulation together with constructive progress. Crypto people are famous for creative innovation. But in terms of regulation, that can be a weakness.

If there is anything we learned about regulation at CVC is that there is no need to reinvent the wheel. A productive, unified regulatory framework already exists in traditional finance. We just need to apply those existing regulations to the cryptocurrency industry. We believe crypto is just a natural evolution of FinTech and therefore, should abide by the same rules. 

‍Yield generation strategies

Earning yield on crypto assets was one of the primary reasons for the DeFi explosion in 2020 and the subsequent bull run. After decades of earning 0% or less than 0% at traditional banks, there had to be a change. DeFi was the change the world was looking for. 

Compared to traditional fiat instruments, crypto is more efficient and provides innovative ways to generate yield. An important subplot to the yield generation topic is the current economic recession. We determined that banks will not likely raise interest rates for several years due to this recession. Hence, returns will remain very conservative. Furthermore, many crypto companies will reduce rates in order to maintain efficiency. 

Therefore, customers should be very careful where they park their money during the recession. Returns will be conservative for now so investors need to be smart and realistic. 

Scenes from a yacht: YouHodler hosts floating afterparty on Lake Zug

After two days of intense networking, brainstorming, and intellectual debate, it was time to unwind a bit. There were two boats, each sponsored by YouHodler and Bancor. While we had a lot of fun activities planned for the guests on the boat, it turned out the guests had other plans. Networking, drinking, and eating great food seemed to be the priority that day (and who can blame them?).

Regardless, it was a delightful lake cruise that created new friendships over a glistening lake with a warm summer sunset in the background. 

CVC 2022: Final thoughts and more photos

Ultimately, CVC 2022 was an incredible experience. It was a living example of the Swiss-crypto philosophy. Tightly run, intelligent and highly productive. Judging by these attendees, the industry is in good hands and will continue to mature as the years go on. YouHodler’s dream is to someday see CVC – and all crypto conferences – leave just the crypto niche and extend to a variety of other industries.

Crypto should be for everyone. Not just crypto people. Speaking of Ilya, we would also like to mention he is on the board for the Crypto Valley Association and was re-elected for a 2nd term as a CVA Board Member. 

As for additional final thoughts, we think they are better expressed in photos. So please enjoy more great pictures from the event: 

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