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Satoshi Roundtable 2020 Takeaways

The Satoshi Roundtable is an invite only event that occurs every year in an undisclosed location, bringing together longtime leaders of the cryptocurrency community. This year, Titan CEO Ryan Condron attended the roundtable for the first time, and saw three main themes emerge from the experience, discussed below. 

Governance and Government

Many company leaders in attendance spoke to both governance concerns for new and ongoing cryptocurrency projects, and similarly (but distinctly) government concerns. Overall, many speakers seemed particularly bullish about decentralized organizations, or DAOs, and the promise that they hold for improving efficiency and trust in businesses. However, automating governance in this way was not seen as the only solution to fairness concerns. Participants discussed protocol updates that ensure deserving participants in a given network are given a fair vote and a voice during decision making processes. They also voiced concerns as to the changing role that traditional central banks would play in these democratic processes. Additionally, interest from governments to research the usage of DAOs in the public sector itself was also surfaced. Overall, participants celebrated the progress made concerning regulations that are now more favorable, worldwide, to blockchain technology. 

Layer 2 Scaling Solutions 

Scaling, or the lack of it, is one of Bitcoin’s most hotly debated aspects. Layer 2 scaling solutions in particular surface as a major point of discussion at the conference. Well-known options like the Attendees discussed the Lightning network , and raised concerns as to whether the project’s progress may be stymied by lackluster bank adoption and legal issues, particularly in the United States. Other options, like sidechain protocols tBTC, RSK and a new project Echo from BTC Inc were presented as other scaling alternatives. 

On-boarding, off-boarding, and Mass Adoption

Naturally, a large part of many of the discussions centered around ways for our space to be more inclusive. Figuring out ways to make on-boarding and off-boarding into decentralized networks was deemed extremely important to furthering mass adoption. Gamification was discussed as a great tactic to achieve widespread usage, and success stories like Dash’s prevalence in Venezuela was likewise noted and celebrated. Many also expressed excitement for future innovations like widespread Proof of Stake

The roundtable continues to grow every year, as more and more thought leaders and professionals passionate about building a more fair and decentralized future surface. It was an honor to be part of the discussion. 

Ryan Condron is Chief Executive Officer of Titan, a BloqLabs company.