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Blockchain Week New York

By James Tennant

May 2018

2 Min Read

Conference

This week is all about Blockchain Week in New York. A week-long celebration of blockchain technology and cryptocurrencies, headlined by the huge Consensus conference.

Around two dozen events will take place over the course of the week, with thousands of people in attendance (including many of your favourite crypto YouTube personalities), directly challenging the notion that the hype around cryptocurrencies and blockchain technology has waned.

As mentioned earlier, the most popular blockchain and cryptocurrency conference of the year, Consensus, will headline the week's events in New York. Right now, around 8,500 attendees are crammed (and we mean crammed) into the New York Hilton Midtown, eager to be the first to hear breaking news about the latest tech updates and strategic partnerships from their favourite crypto companies, many of whom will be exhibiting there too.

Consensus has grown massively since its first event back in 2015. At that inaugural event, Consensus managed to attract around 400 attendees – not bad for a first effort. Even last year's event, with around 2,700 attendees, has been blown out of the water this year. And, with tickets costing between $2-3k (not factoring in exhibition or sponsorship fees), Consensus 2018 will be a huge financial success too, with the Conference raking in upwards of $17 million in revenue - wow.

Earlier in the week we also had the Ethereal Summit, and other events will see appearances by mainstream celebrities, such as rapper, Snoop Dogg (yes, you read that right), but not all the big names in crypto are supporters of the event.

Vitalik Buterin, the founder of Ethereum, will not be attending. Vitalik is boycotting the event for several reasons, one of which is the price of tickets – which is, we agree, very high.

“The conference costs $2-3k to attend,” Buterin said. “I refuse to personally contribute to that level of rent seeking.”

He's also not a fan of the ethics of CoinDesk (the guys who run the Consensus conference), who he believes "is recklessly complicit in enabling giveaway scams." 

Market positivity

In previous years, the cryptocurrency markets have always responded very positively after Consensus. In fact, in 2017 the price of Bitcoin went up a massive 69% after the event, with positive gains seen after the 2016 and 2015 events too. 

Cryptocurrency investors will be hoping for a similar surge in the price after the week is over, amid talk that the price of Bitcoin has already bottomed for the year.

While Coinverge won't be in attendance this year, we will be keeping an eye out for any big news that comes out of the week-long celebration, and will report any major announcements right here on Coinverge.

Are you going to any Blockchain Week New York events? What announcements are you hoping for? Let us know in the comments below.