Robby Yung, CEO of metaverse ecosystem developer Animoca Brands, seemed to suggest that despite recent attempts to exclude crypto companies from the banking sector and protests on the streets of Paris, trust in the space has not suffered. .
Speaking to Cointelegraph on March 22 at Paris Blockchain Week, Yung said the local government had provided a “warm hug” to crypto and blockchain enthusiasts amid many overflowing dumpsters, protests, and vehicles. burned. The French capital has seen mass protests since the government pushed a bill without a vote in the legislature that would raise the national retirement age from 62 to 64.
“I don’t see a lack of passion in the Parisian people,” Yung said, referring to both Web 3.0 and the protests.
Fires burned on the streets of Paris and police fired tear gas to disperse protests after the French gov’t forced its controversial pension reforms through parliament without a vote ⤵️ pic.twitter.com/FHhFntgP9Z
— Al Jazeera English (@AJEnglish) March 17, 2023
The Animoca Brands CEO added that there were similarities between the 2008 financial crisis and the recent bankruptcies of pro-cryptocurrency institutions such as Silicon Valley Bank and Signature:
“All this stuff that’s going on out there is why we’re here to begin with. […] The reason why we decided that decentralization was a better way of doing things was precisely because of our concern about what might happen in the financial sector, something that continues to be confirmed.”
Some of the speakers at the Paris event have highlighted the attempts of some regulators to exclude cryptocurrency services from the traditional banking system and face the market crash in 2022. In addition, big-name brands like Gucci were represented at the conference, in what Yung called a positive sign for adoption.
“As a Web3 community, we need to embrace the whole world, and having the participation of these large multinational companies, these big name brands, is a fantastic seal of approval that we are on the right track,” said the CEO of Animoca Brands . “Brands themselves have power: they resonate with consumers, whether they’re gaming brands or luxury handbags and watches.”
The Paris Blockchain Week will be held from March 20 to 24 and will feature various speakers from the Web3 space, cryptocurrencies and the blockchain. Team members and some Cointelegraph staff will report live from the event to provide readers with the latest news being discussed.
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