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Bitcoin, cryptocurrency market set for recognition boost at Davos

Chayanika Deka

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Facebook’s proposed crypto-project Libra did not receive the very warm welcome it once expected. However, what it undeniably did was open a much-needed conversation among many in the mainstream industry. While it does not seem likely that the hurdles for Libra will be gotten over any time soon, David Marcus was invited to the 2020 World Economic Forum Annual Meeting at Davos.

The industry which was once mostly overlooked and ignored could now potentially gain prominence amidst other crucial global issues. Along the same lines, the latest report by Arcane research noted,

“The most interesting discussions, will probably find place on Jan 23. Well-know persons in the crypto space like David Marcus [CEO of Facebooks Libra] and Neha Narula [Director at MIT’s Digital Currency Initiative] will be on the stage to discuss how they can create a trusted digital currency and what trends that are shaping the future of digital currencies.”

With discussions ranging from shaping the future of the digital economy and challenging the dominance of the U.S dollar, cryptocurrencies could be at the center stage of this year’s annual meet in Switzerland, strategizing priorities for the coming decade.

While Davos is no small conference, interestingly, the nascent crypto-industry has recorded sharp price movements whenever big announcements have been made at crypto-events. Joshua Frank, the CEO and Co-Founder of The TIE, had said something similar previously, commenting,

“We’ve actually seen historically that certain events, um, when big announcements happen within crypto and big announcements happen at these events, it’s kind of like a really good earnings call.”

According to Frank, all the important crypto-events that took place between the years 2014 and 2018 exhibited, what he called, an “outsized impact,” for some of the small altcoins.

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.