It Seems the Paris Fintech Forum (PFF) No Longer Cares About Bitcoin, But Will It Matter?
The Paris Fintech Forum (PFF) proclaims itself to be “the most exclusive European annual event on digital finance and fintech.” Hosting an annual event every year, the 2018 conference featured many blockchain and cryptocurrency players, hoping to push through the bull market that had recently come to a close. This year, the tone has been much different this year, since most of the theme has surrounded traditional banking instead.
Considering that cryptocurrency is down by 80% all over the market, the majority of the fintech market have suggests that the technology may not be as ready as enthusiasts had hoped. For now, the conference looks like they have moved on, and are returning to the banking basics that it thrived on before the crypto boom.
The big names in both traditional finance and startup companies were aplenty at the conference, including:
- Christine Lagarde, managing director of the International Monetary Fund
- Kathryn Petralia, a co-founder of Kabbage Inc.
- Francois Villeroy de Galhau, governor of the Bank of France
- Olivier Guersent, the director-general of financial stability at the European Commission
However, Ann Cairns still seemed to indicate some hope in the blockchain market’s technology, saying,
“I’m pretty excited about supply chains.”
Realistically, the decision for the PFF to avoid cryptocurrency does not really impact it. After all, the point of Bitcoin wasn’t to appeal to the blockchain solutions that financial institutions didn’t know they needed. Blockchain was developed with the intention of giving cryptocurrency their own ledger, rendering traditional banks unnecessary.
Ultimately, unless a trader is involved heavily in both the crypto world and traditional finance, the priorities of the PFF have no impact on the market or even the progress of blockchain technology.