Latest updates from the Cointelegraph team on the ground

This article is updated all day long. All time codes are in the UTC time zone, updates in reverse order (the latest update is placed at the top). Check the first-day coverage here.

Paris Blockchain Week Summit (PBWS) hosts multiple thought leaders from the crypto and blockchain universe on its second day, and the Cointelegraph ground team is at the venue to deliver the most recent developments from the event.

Paris NFT Day, the prequel event to the PBWS, saw the announcement of Cointelegraph France. On Wednesday, the Cointelegraph team delivered the important tidbits from sessions, as well as quotes from exclusive interviews, in a near real-time manner. CT reporters had the chance to interview key people from the crypto ecosystem, including Binance CEO CZ, Tether chief technology officer Paolo Ardoino and Binance’s NFT platform lead Helen Hai.

Do not forget to check this article regularly to get notified about the most recent announcements from the event.

09:50 – Twenty minutes prior to his keynote, Tezos co-founder Arthur Breitman sat down with the Cointelegraph team.

“Right now we’re at a high tide and there is a lot of excitement in the crypto space – but are some point the tide will go out, and at that point, we will see some really interesting use cases. Essentially once the hype dies down. “

Arthur Breitman, Tezos

“Consolidation of layer one technologies will happen. I would not say it’s a zero-sum game and at this point in time everyone has room to grow, but there will be a point in which consolidation comes in.”

9:30 – During the CBDCs and Stablecoins session, Stellar Development Foundation’s Jason Chlipala noted that Blockchain technology has made way for us to move into a common paradigm where safe, secure digital assets can be issued on a common infrastructure, which could “lead to an interoperable world.”

“CBDCs and stablecoins would co-exist as they serve different purposes. But CBDCs are gonna be the next piece of the puzzle to create a global infrastructure, “he adds:” Stablecoins do not have to replace cash completely, rather become an addition to the existing infrastructure. “

9:10 – Six Digital Exchange legal head Inmaculada Navas explains that crypto regulations have evolved immensely in Switzerland since 2018 and now AML & KYC are quite huge in the country. “With the likes of Blockchain Law coming into force in 2020 impacted a lot of civil laws as well,” she adds.

8:50 – “I would give MiCA regulations a 5/10 with a lot of scope for improvement,” says Euronext head of innovation Emilie Rieupeyroux.

“From a regulatory point of view we can not expect a 100% perfect regulatory copy, but what is more important is that regulators come up with something that enables mass adoption,” she added in the Regulation of Digital Assets- How to Protect Stakeholders session.

Near Foundation CEO Marieke Flament told Cointelegraph: “The industry has a substantial positive impact at the local level – in terms of communities and networks. Here in France, for example, the French community is tight-knit and growing.”

A friendly bear from the Cointelegraph booth.

8:20 “El Salvador is set to pass a new law that would cover all the needs of additional asset service providers and offer a government license to operate in the country. Bitfinex has built a new fundraising platform in light of the upcoming license and it would allow the government to raise funds for their volcanic bond, ”adds Paolo Ardoino.

8:10 – “Crypto use cases for remittance and even paying wages have seen a surge in Latin America and Central Africa. Nigeria at the moment is the most underrated crypto hotspot with a vibrant crypto economy, ”says ZenGo CEO Ouriel Ohayon.

Bitfinex CTO Paolo Ardoino noted that Tether (USDT), a stablecoin, is seen as a reserve asset in Turkey, Venezuela, Argentina and other similar countries. It’s sad because it should be supposed to work as an FX currency, he added:

“Bitcoin, DEX and CEX are financial solutions for nearly 2 billion unbanked population around the world.”

8:00 – The second day kicked off with The Future of Crypto Exchanges in Emerging Markets session.