Singapore was buzzing with DeFi builders on September 18th-19th for Token2049, as it was for the entire week associated with it. Over 10,000 people attended this high-profile gathering.
To many, the main event was Vitalik’s presentation on Account Abstraction. Let’s face it: attracting a mainstream audience to DeFi will have to include a drastic simplification and obfuscation of the blockchain layer of all those small transactions crypto users have to perform for every action in Web3. The ease of navigation and the relatively low learning curve of Web2 can do magic for getting more people to use blockchain-based apps. After all, no one gets into DeFi for the “excitement” of remembering long wallet addresses and signing a million tiny transactions. Account Abstraction is the UX revolution crypto needs, and Vitalik was as visionary as ever with his presentation at Token2049.
By the way, it is no coincidence that representatives of major Web2 service providers were at the gathering, including Google and AWS. The vibe was one of coming together, both with Web2 and within Web 3, such as Sushi integrating Aptos as their first non-EVM chain.
Of course, AI is still the buzz of the town, with much talk about integrating it with Web3. While some of it is no doubt hype, there are plenty of reasons to believe that AI will play a significant role in DeFi products.
Token2049 wasn’t only about the technology, though. There was a strong vibe of the center of crypto moving further away from regulation-heavy Europe and the US towards much more crypto-friendly Asian localities such as Japan, Hong Kong, and Singapore.
Speaking of localities, as powerful as the main event was, the over 400 side events stole the show. From insightful presentations to fun entertainment to massive networking where future partnerships no doubt were born, the side events catered to every sub-interest in crypto.
Among the many interesting people attending Token2049, was a DeXe contributor, Dmytro Kotliarov, both at the main event and the side events. He shared his absolute awe for how packed and beneficial each event was. People shared concerns about DAO governance, transparency, centralization, etc. — leading to fascinating discussions about the DeXe Protocol’s solutions to these and other present DAO shortcomings.
With Token2049 over, the attendees returned home inspired by the conversations and inspired to keep building. With the next Token2049 already scheduled for next spring in Dubai, it’s time to create or polish up the breakthroughs that will be the talk of the town at the next Token2049. These few days in Singapore showed that a bear market doesn’t slow down true creators and that the spirit of innovation and collaboration is as alive as ever. And that’s what DeXe and everyone we talk to are all about!