As crypto influencers captured attention with promises of short-term gains, industry experts at the World Crypto Forum (WCF) in Davos discussed the impact on the space. Cointelegraph's Kristina Lucrezia Cornèr highlighted the current "stage of greed" in the industry, driving the crypto community forward. However, panelists at the WCF Crypto2030 emphasized the need to transition towards focusing on use cases and applications. While influencers play a role in bringing attention, the industry's long-term success hinges on the adoption and development of blockchain technology solutions to address real-world challenges.
At the World Crypto Forum (WCF) in Davos, experts engaged in discussions about the role of social media influencers in the crypto space. Cointelegraph's Kristina Lucrezia Cornèr, speaking at the WCF Crypto2030 on January 15, addressed the impact of influencers and media publications on shaping perceptions within the crypto industry.
Cornèr acknowledged the prevalent interest in becoming rich through crypto investments but emphasized that the industry offers much more than short-term gains. She highlighted the current "stage of greed" in the industry, noting that this element is driving the entire crypto community forward, albeit not entirely. Cornèr believes that the next phase in the crypto space will be characterized by a shift towards focusing on use cases and applications for blockchain technology.
The discussion touched upon the motivations behind investors entering the crypto space, particularly those attracted by influencers promoting significant financial gains. While the crypto industry aims to be democratized, there is a risk of new investors being swayed by misleading or incorrect information circulating online. Cornèr encouraged investors to reflect on their motivations and the narratives shaping their entry into the crypto market.
Bilal Bin Saqib, the founder of Web3 Pakistan, acknowledged the role of influencers as torchbearers in the industry, navigating through both bull and bear markets. He emphasized that influencers have invested time in studying white papers and understanding the economics of space. Saqib stressed the importance of influencers advocating for responsible research practices (DYOR) to guide investors effectively.
The World Crypto Forum is running concurrently with the World Economic Forum event in Davos, where leaders and policymakers gather to discuss finance, regulations, and global economic issues. The discussions at WCF shed light on the dynamic relationship between influencers and the broader crypto community, underscoring the need for a balanced narrative that transcends short-term gains and embraces the long-term potential of blockchain technology in addressing real-world challenges.
(TURNER WRIGHT, COINTELEGRAPH, 2024)