Is the Crypto Conference Circuit Truly Benefiting the Industry?

For those immersed in the world of Web3, this year has likely been a blur of international travel, with conference attendance becoming a regular occurrence. The crypto conference circuit has grown exponentially, spanning continents and potentially reaching every corner of the globe. Each major event is now accompanied by hundreds, if not thousands, of side events, as seen at the recent Devcon in Bangkok. While some conferences, such as Consensus and ETHDenver, offer real value, the relentless travel and plethora of panels raise questions about their true impact on adoption. The current state of affairs, where even colleagues from the same city often meet at conferences halfway around the world, is neither efficient nor sustainable. Networking, which predominantly happens at these events, often results in a collection of new contacts and promises to reconnect that rarely materialize into substantial collaborations. The reality is that most discussions initiated at conferences end up in a state of limbo, never evolving beyond the initial promise. Moreover, the 'pay-to-play' model that dominates these events tends to favor stage time over genuine merit, creating an echo chamber that stifles innovative ideas and fresh perspectives. The financial aspect of these events is also a concern, with significant amounts spent on conferences, travel, and side events, which could be better utilized for driving adoption through focused, innovative onboarding strategies. The primary goal for many in the crypto world seems to be gaining influence within the industry itself, rather than expanding its user base. However, with limited funding and the struggle of even well-funded companies to attract daily active users, it's crucial to reassess the cost-benefit of this approach. The harsh truth is that the crypto industry's product-market fit seems to lie more in hosting events than in driving genuine adoption. The money poured into these events and side activities could be redirected towards creating real value and explaining complex ideas in simpler terms to potential users. This shift in focus could be the wake-up call the industry needs to move towards mass adoption, rather than remaining in an echo chamber of conferences and side events. The recent layoffs in the industry, despite the nearing of Bitcoin's all-time high, underscore the need for a more sustainable and effective approach. Perhaps it's time to learn from successes outside the crypto-native sphere, such as Stripe's acquisition of BridgeServe, and to redirect our energies and resources towards strategies that can lead to real growth and adoption.