A Financial Professional’s Consensus. How Does It work? Complete guide 2024

Curious about how crypto is already disrupting the world of finance? Here is a schedule of the events every financial professional will want to attend at this year’s Consensus 2024 conference to get you up to speed.

Wednesday, May 29

OFAC Sanctions Compliance: The Good, the Bad, and the Ugly (10:30 AM CDT • 11:30 AM EDT)

Financial In recent years, crypto has come under the watchful eye of international regulators concerned that borderless and censorship-resistant financial platforms could be used to bust sanctions. Former Central Bank of Ecuador Director General Andres Arauz is joined by three expert crypto lawyers, privacy advocates and founders to discuss how crypto startups can comply with sanctions lists without sacrificing their credible neutrality.

Cathie Wood on Bitcoin’s Rubicon Moment (10:45 AM CDT • 11:45 AM EDT)

Cathie Wood, CEO of ARK Invest and legendary Wall Street investor, is joined by influential Bitcoin podcaster Peter McCormack to discuss the world’s first decentralized money’s current and future value proposition — and why she thinks bitcoin is likely to continue Financial growing.

Tom Emmer: Congress’ Crypto Champion (11:15 AM CDT • 12:15 PM EDT)

Republican Congressman of Minnesota and Majority Whip Tom Emmer is one of crypto’s biggest advocates on the Hill. And as majority whip in the United States House of Representatives since 2023, what he says carries weight.

Open Money Summit: Time to Combine? Mergers and Acquisitions in Digital Assets (3:30 PM CDT • 4:30 PM EDT)

Financial wave of consolidations swept the industry in the wake of 2022’s contagion event and will likely happen again during the market upswing, as growing companies look to invest. Attorneys and investments bankers including DLx Law’s Sarah Chen, KBW’s Paul McCaffery and Imperii Partners’ Tony Scuderi will discuss how the tone and tenor of M&A deals change during boom and bust market cycles.

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The OG of Fast Payments (4:05 PM CDT • 5:05 PM EDT)

Brad Garlinghouse, CEO of Ripple, is set to discuss the evolving world of enterprise-focused blockchain tools, including the company’s plans to launch a stablecoin, and how traditional finance operations could move on-chain.

Thursday, May 30

Crypto, the U.S. Elections, and the Next Administration (10:00 AM CDT • 11:00 AM EDT)

Tim Draper, one of the first major VCs to buy bitcoin, is joined on the mainstage Polygon Labs Chief Legal Officer Rebecca Rettig and Messari CEO Ryan Selkis to discuss how politics affects crypto policy. About 15% of Americans — including about a quarter of Millennial voters — own, trade or use crypto: Can they become a unified voting block?

State of Crypto Policy Summit: SEC and CFTC Commissioners Speak (11:00 AM CDT • 12:00 PM EDT)

Hester Pierce and Summer Mersinger, commissioners of the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), respectively, will discuss where the U.S. is going wrong with crypto regulation and how to get the world’s largest economy back on track.

Digital Asset ETFs: A New Frontier, 10 Years in the Making (12:00 PM CDT • 1:00 PM EDT)

It took over a decade to launch the first spot bitcoin ETF in the U.S. but only weeks to establish themselves as some of the hottest investment vehicles this year. Asset managers from BNY Mellon, BlackRock, Bitwise and Fidelity will discuss where the market goes from here, and the prospects for launching a spot Ethereum ETF this year.

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Prometheum’s Perspective (4:10 PM CDT • 5:10 PM EDT)

In an industry as contentious as crypto, perhaps no startup is more controversial than Prometheum, the special purpose broker dealer that wants to list “crypto asset securities” — including Ethereum. Co-CEO Aaron Kaplan will give his perspective about why crypto needs regulated entities to run the show.

Friday, May 31

Can DeFi Scale? (10:10 AM CDT • 11:10 AM EDT)

MakerDAO founder Rune Christensen and decentralize finance expert at The Defiant Camila Russo will discuss whether decentralized finance is living up to its promise of empowerment and how it can maintain its ideals as it continues to scale to a global level.

Bringing the Next Trillion Dollars of Assets On-Chain (12:45 PM CDT • 1:45 PM EDT)

Real-world assets, i.e. traditional financial products that are brought on-chain, is one of the fastest growing sectors in the digital asset space, to such an extent that BlackRock CEO Larry Fink thinks tokenization will soon eat the world. Founders of three of the hottest RWA startups, Centrifuge, Superstate and Maple Finance, will discuss where this transformation is heading.

Financial cryptocurrency, also known as cryptocurrencies used in finance (sometimes shortened to “FiFi”), refers to digital assets specifically designed for use in financial applications. This contrasts with some cryptocurrencies primarily used as a store of value or for payments. Here’s a breakdown of key characteristics of financial crypto:

Focus on DeFi (Decentralized Finance):

• FiFi coins are often used within Decentralized Finance (DeFi) protocols. These protocols aim to replicate traditional financial instruments like loans, borrowing, saving, and trading in a peer-to-peer, blockchain-based manner.expand_more
• Examples of FiFi coins used in DeFi include Maker (MKR), Compound (COMP), and Aave (AAVE). These coins might be used for collateral in loans, governance within DeFi protocols, or earning interest on deposited assets.

Stablecoins:

• A significant category of FiFi coins are stablecoins. These are cryptocurrencies pegged to the value of a real-world asset, most commonly the US dollar (USD).expand_more This peg aims to reduce the price volatility often associated with cryptocurrencies.expand_more
• Examples of popular stablecoins include Tether (USDT), USD Coin (USDC), and Binance USD (BUSD).expand_more Stablecoins are used in DeFi for lending, borrowing, and trading activities with more price stability compared to other cryptocurrencies.expand_more

Utility Tokens:

• Some FiFi coins can be utility tokens that provide access to specific services or functionalities within a DeFi protocol or blockchain platform.expand_more
• Owning these tokens might grant voting rights within a protocol, access to exclusive features, or fee discounts.expand_more

Benefits of Financial Cryptocurrency:

• Decentralization and Transparency: FiFi promotes decentralized financial systems, potentially offering greater transparency and potentially lower fees compared to traditional financial institutions.
• Accessibility: DeFi applications built on FiFi can potentially offer financial services to a wider audience, even those without access to traditional banking systems.
• Innovation: Financial cryptocurrency fosters innovation in the financial sector, leading to new financial products and services built on blockchain technology.expand_more

Challenges and Considerations:

• Regulation: The regulatory landscape surrounding DeFi and FiFi is still evolving.expand_more This can create uncertainty for users and businesses operating in this space.
• Security Risks: DeFi protocols and FiFi can be vulnerable to hacks and exploits.expand_more It’s crucial to research and understand the risks involved before participating in any DeFi activity.
• Volatility: While stablecoins aim for price stability, some FiFi coins can still experience significant price fluctuations.

Absolutely! DYOR (Do Your Own Research) is a fundamental principle in the cryptocurrency and blockchain space, and really any field where you’re considering investing your time or money. Here’s why it’s so important:

• Avoiding Scams and Misinformation: The cryptocurrency and DeFi landscape can be full of hype and potentially misleading information. By conducting your own research, you can separate fact from fiction and avoid falling victim to scams or fraudulent projects.
• Making Informed Decisions: DYOR empowers you to understand the technology, potential risks and benefits, and the overall purpose of a project before investing in its cryptocurrency or participating in its ecosystem. This helps you make informed decisions based on your own risk tolerance and financial goals.
• Identifying Reputable Projects: Through thorough research, you can identify well-established projects with strong teams, transparent operations, and a clear roadmap for the future. This increases the chances of finding projects with a higher potential for success.

Here are some tips for conducting your own research (DYOR):

• Read Whitepapers and Project Documentation: Most legitimate projects have whitepapers outlining their technology, goals, and tokenomics. Read these documents carefully to understand the project’s purpose and functionality.
• Research the Team Behind the Project: Look into the experience and background of the team developing the project. Are they qualified and have a proven track record?
• Explore the Project’s Community: Join the project’s forum, social media channels, or Telegram groups. Engaging with the community can give you valuable insights into user sentiment and potential concerns.
• Read Independent Reviews and Analyses: Look for reputable sources that provide objective reviews and analyses of cryptocurrency projects.
• Compare the Project to Similar Offerings: See how the project stacks up against similar projects in the market. What makes it unique, and what are its potential advantages or disadvantages?

Remember:

• Don’t Rely Solely on Others’ Opinions: While reading reviews and analyses can be helpful, don’t base your decisions solely on someone else’s word.
• Be Wary of Unrealistic Promises: If a project sounds too good to be true, it probably is. Be cautious of projects that make unrealistic claims about returns or guaranteed profits.
• Invest What You Can Afford to Lose: The cryptocurrency market can be volatile. Only invest what you can afford to lose and never invest money you might need in the near future.

By following these principles and conducting your own research (DYOR), you can approach the world of cryptocurrency and DeFi with a healthy dose of skepticism and make informed decisions about where to invest your time and resources.