Robby Yung, CEO of metaverse ecosystem developer Animoca Brands, seemed to suggest that despite recent attempts to debank cryptocurrency and protests on the streets of Paris, trust in the space has not suffered.
Speaking to Cointelegraph on March 22 at Blockchain Week in Paris, Yung said that the local government had extended a โwarm hugโ to cryptocurrency and blockchain enthusiasts amid many overflowing dumpsters. , protests and burned vehicles. 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.
โI see no shortage of passion in the Parisian people,โ Yung said, referring to both Web3 and the protests.
Fires burned in the streets of Paris and police fired tear gas to disperse protests after the French government forced its controversial pension reforms through parliament without a vote โคต๏ธ pic.twitter.com/FHhFntgP9Z
โ Al Jazeera English (@AJEnglish) March 17, 2023
The Animoca Brands CEO added that there were similarities between the 2008 financial crisis and the recent failures of crypto-friendly institutions such as Silicon Valley Bank and Signature:
โAll that stuff going on out there is the reason we're here to begin with. [...] The reason why we decided that decentralization was a better way to do things was precisely because of our concern about what could happen in the financial sector, which continues to be confirmedโ.
Some of the speakers at the Paris event have highlighted attempts by some regulators to unseat the services of crypto companies and address the 2022 market crash. Additionally, name-recognizable brands including Gucci were represented at the conference in what Yung called a positive sign for adoption.
โAs a Web3 community, we need to embrace everyone, and to have these large multinational corporations, these major well-known brands involved, is a fantastic seal of approval that we're onto something here,โ said the CEO of Animoca Brands. โBrands themselves have power: they resonate with consumers, whether they are gaming brands or luxury handbags and watches brands.โ
Related: Paris Blockchain Week 2023: Starts on the first day of the Summit
Paris Blockchain Week will take place from March 20 to 24 and present a variety of speakers of the Web3 and crypto and blockchain space. Cointelegraph team members and staff will report live on the ground to provide readers with the latest developments at the event.
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