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TradFi and DeFi come together — Davos 2023

by SuperiorInvest

Traditional finance, or TradFi, continues to explore the world of cryptocurrency and blockchain technology, with the World Economic Forum hosting more workshops and sessions for the sector in 2023. These were the main themes the Cointelegraph team looked at as they covered the event during a busy week in Davos, Switzerland. In a late night taping, the team recapped everything readers need to know about the new week Decentralize with Cointelegraph podcast.

Cointelegraph Editor-in-Chief Kristina Lucrezia Cornèr reflected on her approach to WEF compared to previous years at Davos. She also unpacked the ongoing synergies between traditional finance and decentralized finance, or DeFi, that have been evident in countless developments in the crypto industry. Cointelegraph journalist Gareth Jenkinson was tasked with covering these crypto meetings, which took place in a series of shops refurbished for the events on Davos’ central promenade.

Speaking to a number of TradFi insiders and attendees, Jenkinson highlighted the ongoing cross-pollination between sectors, while only a handful of cryptocurrency attendees were engaged in conversations at the World Economic Forum.

From JPMorgan Chase CEO Jamie Dimon on renewed skepticism about Bitcoin (BTC) to the Cointelegraph team, which almost got stuck due to frozen diesel in the tank, Davos 2023 turned out to be a fun and educational journey.

Davos has long been the spiritual home of the World Economic Forum, but in recent years a number of crypto and blockchain companies, projects and events have leased space along the central road that leads to the WEF conference grounds.

While cryptocurrency advocates mingled with TradFi members and curious visitors from public and private institutions on the boardwalk, only a handful of crypto-related institutions participated in the workshops inside the WEF.

Cointelegraph Editor-in-Chief Kristina Lucrezia Cornèr (right) on stage with Forbes columnist Rhett Power (left) hosting the Webit Founders Games in Davos during WEF 2023. Source: Cointelegraph

Cointelegraph spoke with representatives from Circle and Ripple, who provided an inside look at the changing perception of the WEF towards the sector, while the heads of metaversion platforms The Sandbox and Upland also touched on different perceptions both inside the WEF and outside its walls.

Related: Cointelegraph is heading to Davos for the World Economic Forum

There seemed to be a general consensus that the crypto and blockchain space is increasingly being talked about at WEF, with workshops and discussions on the sector increasing from May 2022.

Cointelegraph reporter Gareth Jenkinson (right) with Brooks Entwistle (left, drive away), APAC CEO at Ripple. Source: Cointelegraph

However, the co-mingling of TradFi and DeFi proponents was clearly visible. Conventional investment funds, hedge fund managers and banks have all led discussions on cryptocurrency adoption and management at events attended and moderated by Cointelegraph.

To hear Cornèr and Jenkinson reflect on the changing perceptions and intensified conversations between the old guard of traditional finance and the innovative cryptocurrency and blockchain ecosystem, listen to the first episode of the series Decentralize with Cointelegraph on Cointelegraph’s newly launched podcast site — and don’t forget to check out another batch of new shows. The episode is too available on Spotify.

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