Consensus Conference 2023

The Consensus conference - a place where web3 visionaries, developers, investors, founders, and policymakers converge. Often described as the globe's most influential gathering in the cryptocurrency, blockchain, and Web3 community, it promises enriching conversations, hands-on workshops, and valuable insights for a more decentralized future.

**Ready for the future:** Our core team at the entrance of Consensus. Michal, Nicolaj, and Stephan.

Our objectives were clear: winning the CoinDesk Consensus Startup competition, team building, business development, connecting with investors, and, not to forget, absorbing all the cutting-edge technologies presented.

VERITIC at Global Finals at Coindesk Consensus Pitchfest

**Our Moment:** Stephan, sharing our innovative vision on a global stage.

Two hours before the pitch, with the pressure mounting, Stephan dedicated time to rehearse in his hotel room. The competition was fierce. Among the global top 12 finalists, competing against startups with explosive growth and significant traction, our presence was a testament to our potential. We may have been early in our journey, with a nascent PoC, but our ideas shone brightly, earning us a spot among the top newcomers in web3.

The feedback, although wrapped in a challenge from Richard Muirhead of Fabric, highlighted the uphill task we faced. Breshna.io, Gane, and Metagood showcased their considerable achievements and traction with up to 130.000 users and USD 9mn revenue, setting the bar high. However, our achievement in reaching this stage, bolstered by almost $9’000 in total support from Google Cloud and the organizers, cannot be understated.

Spotlight on the Winners

While we celebrated our journey and the recognition it brought, the competition also highlighted some shifts in society. The winner of the competition was Rise, a crypto payrol company: Getting your paycheck in crypto? The younger the employees are, the more likely they are to favor this idea, research shows. The Ohio-based startup targets companies that want to give their workers flexibility between fiat and crypto salary payouts. Recognizing their achievements reinforces the potential and the breadth of the Web3 community.

From Texas BBQs to Web3 Whispers: Networking in Austin Style

**A Feast Worthy of Champions:** Delighting in Terry Black's legendary Texas BBQ.

Post the competition, it was time to celebrate our journey and unwind. Terry Black's Texas BBQ was the chosen locale. Its beef ribs were not just a dish; they were an experience, echoing the satisfaction of our journey at the conference.

**Connections and Celebrations:** Mingling with the Web3 community at Google's after-party - thanks for inviting us.

It was a microcosm of the conference: bustling, loud, and filled with networking opportunities. The excitement of Web3 discussions reverberated throughout.

Across the entire city were fantastic side events and after-parties and we attended too many of them to write about them all. Thanks to excel sheets that were passed around on Telegram, these days its easier than ever to find the best ones. Notable events we attened were by KPMG, Hashkey, IBC, and INABTA.

Looks like Crypto is doing fine and somone rented the president suite for a side-event at the nearest hotel …

Key Takeaways

For us, one of the greatest outcomes was team bonding. After our last retreat in Berlin, coming together in person was revitalizing. But Consensus wasn't just about our internal team; it was also a window into the broader sentiment in the crypto world.

Optimism Amidst Uncertainty: Despite regulatory challenges, the optimism about crypto's future was in the air. This was evident not only among seasoned crypto enthusiasts but also traditional finance veterans. Their belief in integrating TradFi with crypto infrastructure remains unshaken and we believe VERITIC can play a crucial role in contributing to the security of this integration.
The Corporate Concern: Kate Brady's, from PepsiCo, statement underscored the broader implications of regulatory uncertainties. It isn't just the crypto world grappling with these ambiguities. Major corporations eyeing Web3 development also feel the pinch. The U.S., unlike Europe and Asia, remains hazy in its blockchain guidelines, potentially hindering progress and innovation.
In particular in our home base Switzerland, regulators were fast to provide first laws related to blockchain that are continously expanded. EU is following with MiCA soon and VERITIC can help Crypto Asset issuers that will be regulated under MiCA prepare for MiCA risk assessment by enhancing security processes in an easy way.

Our journey at Consensus was a blend of competition, camaraderie, insights, and challenges. It's a reminder that while the path to a decentralized future is laden with uncertainties, with collaboration and determination, we can overcome any obstacle.