Diversifi Visits ETHDenver 2022

Diversifi Visits ETHDenver 2022

ETHDenver is the biggest Ethereum conference in the world. Starting with a week-long hackathon where diligent teams of developers compete for prizes, attention, and an investment in a new Web3 offering built in a week, it offers interesting sessions about the state of Ethereum, crypto as a whole, and the new things coming down the line.

After 2 years of remote meetings, due to Covid, this year’s conference has returned to the Mile High city in person. I was lucky enough to attend it. While I‘ve sadly missed the hackathon part, I wanted to share some tidbits, ideas, and thoughts of what I have seen there.

Despite vicious propaganda and generally negative media treatment, Web3 is here to stay. Many entrepreneurs are building a myriad of new applications that rely on blockchain, cryptography, decentralization, self-custody, and digital communities to deliver a new generation of dapps.

I’ve seen new financial paradigms, new approaches to old products, and new ways to bring communities to the forefront.

Investors are also there in force, investing billions in new products and protocols, that will become the backbone of a new generation of applications.

2. DAOs Are Everywhere

Decentralized Autonomous Organizations allow crowds to operate a company, a project, a charity, or any other initiative in a decentralized way. Everyone can propose a call-to-action and everyone gets a vote on how to act. You do not fully appreciate the power of it until you participate ina protocol vote that changes the fundamental behavior and profit structure of the entire protocol — based on proposals, debate, and voting by a highly involved community. Think of it as stockholders in a public company, who actually have a chance to impact something.

The case in point I liked the most: one of the hackathon winners was an app that presented a Chess game, where the two players are represented by DAOs. People get to vote on what’s the best next move to make. While this is a simplistic move, think of this system used to simulate other 0-sum games, such as contract negotiations or other intercourse where ideal goals are currently not achieved due to ego and human behavior. Once a DAO takes over the negotiation, many voices might stir it in the optimal direction.

3. NFTs Are Getting Better

I got to meet some NFT artists and see the new generation of art coming to the Non-Fungible Token world. The level of art is improving and the utility and communities are getting better defined and rewarding.

4. Metaverse Is Here

Whether you’re using VR glasses or just buying virtual property in a game world, trading virtual real estate, etc., Metaverse was one of the big words bandied about. NFTs will certainly play their part as keys to the new kingdom, as well as all previously mentioned technologies. Other than games, entertainment, and leisure, Metaverse will bring with it a way to simulate and maintain large universes.

5. Multi-Chain Is a Big Promise, But a Big Problem as Well

There are several L1 chains out there, with amazing offerings. Terra with its Anchor protocol, which provides a pure stable coin, Solana with NFT and DeFi offerings, Avalanche, and a few new contenders. And of course, grandpa Bitcoin with its store of value. But the questions of how to easily move from one chain to another and utilize your liquidity across chains have not been satisfactorily solved yet. With multiple cross-chain bridges hacked due to shaky logic, people are still looking for a solution that will allow chains to play nicely together.

Follow www.diversi.fi to see the Diversifi protocol — our open-source solution that enables developers to build secure, user-friendly, and cross-chain dapps.

6. Institutional Money Is Coming!

Institutions have been dipping their toes into crypto and DeFi for several years now. Lacking regulation, insurance, and clear custody rules, they’ve been reluctant to risk their clients’ main funds. But this year, several companies started offering bridges for institutional money to come across. Offering unique bridges, KYC products, protection mechanisms, etc. — institutional money is coming in with force.

At Diversifi, we build crypto management, risk-mitigation dapps for sophisticated institutional crypto investors.

The future is decentralized.

Thanks the organizers for making the whole event happen and giving an opportunity to meet with exciting smart people and amazing potential partners.

See you all at EthDenver 2023!

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