Attending conferences can be overwhelming, and keeping up with their recaps is even more so! Consensus 2024, a pivotal event on the cryptocurrency calendar, recently wrapped up in Austin. Positioned between Paris Blockchain Week and a major upcoming Bitcoin event, this year’s conference was particularly noteworthy. Influential in shaping the trajectory of the crypto industry, the atmosphere was electric, buoyed by a prevailing sentiment that Bitcoin is “unstoppable,” as noted by Cathie Wood of ARK Investment. This event promised a rich blend of innovation, discussion, and networking poised to influence the industry’s future.
Most notably, the mood at Consensus 2024 was overwhelmingly positive, marking a stark contrast to the previous year. This optimism was evident in the current atmosphere and the forward-looking perspectives shared by participants.
Attendee Dynamics: A Shift in Focus
This year’s Consensus conference witnessed a noticeable shift in attendee engagement. Although the official count reached around 15,000 participants, up from last year’s 10,000, the proliferation of side events led to a more dispersed crowd. The event saw fewer booths decked out with previous years’ usual pomp and circumstance.
The panels were notably more engaging this year, with speakers delving deeply into critical topics such as the future of regulation in blockchain and the evolving trajectory of this mature industry. I also had the chance to listen to more of the panels, as the crowds were smaller, and I could actually hear what the speakers were saying. This was a much-welcomed change.
Conference Highlights – Politicians on Display
The excitement was palpable, with large crowds gathering as the event started. However, the energy naturally ebbed as the week progressed—a typical pattern for lengthy conferences.
This year, a significant emphasis was placed on institutional support for cryptocurrencies, highlighted by initiatives like Google Cloud’s “start-up village” and ongoing discussions about regulatory frameworks. Notably, representatives from the U.S. SEC and CFTC and several lawmakers addressed emerging issues, making these regulatory conversations a standout feature of the event.
Political developments also took center stage at Consensus, with discussions about former US President Donald Trump’s recent conviction and its potential repercussions for the crypto sector. These discussions were prominently led by third-party Independent Presidential candidate Robert F. Kennedy, Jr. His team maintained a strong presence at the event, advocating for decentralized finance (DeFi) and championing cryptocurrency as a symbol of freedom and transparency. These conversations coincided with significant regulatory discussions, highlighting an intriguing intersection of cryptocurrency with high-stakes political dynamics.
“Let’s Get Social” – The Backbone of Consensus
The real action, however, brewed on the sidelines and at after-hours events, which have become a staple for networking and informal discussions. An anecdote about a police officer playing life-sized chess with an attendee captured the relaxed yet engaging atmosphere as the conference wound down. I often find myself on the fence about this trend, wondering if there are two distinct camps of attendees—those who are daytime warriors and those who venture into the night to conquer the mass events along Sixth Street and beyond. Either way, you are bound to meet many people at every turn.
As Swiss-based Jakob Linus Stammler, Blockchain Ecosystem Builder at Powerledger, noted, “Consensus needs to cater to a diverse array of stakeholders, including protocols, builders, regulators, investors, and more. Finding the right mix can be extremely challenging, often resulting in a generalized experience that may not add significant value to any particular group.”
He further observed, “The variety of side events is actually one of Consensus’s strengths. These events represent the decentralized ecosystem we operate in, allowing participants to follow the main conference while also branching out to specific areas of interest. For instance, if I want to engage with Solana, I can attend Solana House events, but Solana also presents major updates on the main stage for those seeking a general industry overview. We often forget that our industry is still a developer’s playground, where mass adoption hasn’t fully occurred. Mixing experts, generalists, and newcomers can sometimes hinder progress toward broader adoption.”
Forward Gaze: Hong Kong and Toronto Await the Unstoppable Force that is Consensus
As Consensus wraps up its final session in Austin—due to the upcoming major renovations at the Austin Convention Center—plans are already afoot for two iterations of the event in 2025. The first will take place in February in Hong Kong, followed by a May event in Toronto. This bi-locational approach comes when the community must reflect on the evolving nature of crypto gatherings, recognizing that the growing number of participants makes it challenging to balance attendance with the need to continue building and working behind the scenes.
Consensus has continually adapted, reflecting the shifting dynamics and maturing perspectives within the blockchain space. I am eager to see how the conference will adjust to not just one, but two new geographical landscapes, having become synonymous with Texas after its brief stint in New York.
In conclusion, Consensus 2024 showcased the crypto community’s resilience and adaptability and reinforced Bitcoin’s indomitable spirit, as echoed by industry leaders like Cathie Wood. As the event shifts to new horizons, the essence of what makes Bitcoin and blockchain technology “unstoppable” continues to resonate, setting profound expectations for the future.
Consensus 2024 was not merely about the talks and official gatherings; it was a holistic experience encompassing formal, informal, and unexpected elements, shaping the narrative for the future of cryptocurrency.
Kelly Ferraro is an events columnist at Grit Daily. She is the CEO and president of River North Communications, touting two decades of experience as a corporate communications and TradFi professional. She is also the chapter director for VNTR, and is a three-time mentor with Outlier Ventures. Having worked at Bank of America and Guggenheim Securities, she is well-equipped to design and implement media campaigns aligning with business objectives. Kelly began her career at a hedge fund, developing a love for numbers as they told a company’s true story. She is also passionate about the evolution of blockchain and believes transparency is the key to widespread adoption.
