Philip Young, Marketing and Business Development Director for the GBX, headed to the Token Summit III conference in New York, the 3rd event in the Token Summit series. The theme of the event was the emerging token-based economy. The discussions were based on the economics, best practices and regulatory climate involving tokens and cryptocurrencies. It was a great event for thought leadership on the design of token-based economies and their successes in creating real value for users.
The event is known as the ‘Insiders Summit’ where real breakthroughs for blockchain innovation are established by a roster of experts in their respective fields. Gibraltar was represented in that cadre—Joey Garcia, Partner at Isolas LLP, was invited to speak at the Summit and is considered a leading expert in the industry. Vikram Nagrani and Anthony Provasoli from Hassans were also in attendance.
The Gibraltar Government, represented by the Hon. Albert Isola, Minister of Commerce — HM Government of Gibraltar, took part in a ‘fireside chat’ with William Mougayar. The Minister spoke about Gibraltar’s strides in becoming a fintech hub in Europe, if not the globe. He demonstrated the open and collaborative approach to this emerging industry and explained how the jurisdiction as a whole has embraced the blockchain space. The fireside chat was described emphatically as:
“Gibraltar has been punching above its weight class as it carves a special place in the landscape of innovative jurisdictions that are breaking the mould with favorable regulatory actions and policies.”
It is a testament to the work the Gibraltar Government and the jurisdiction as a whole have done, with conferences as far as the US recognising the continued progress.
One of the biggest topics at the Summit was ‘Token Regulation in the US.’ During the discussion with the SEC, the panel sympathised with the tough decisions that had to be made and understood the responsibilities the SEC had to US citizens. It was one of the most lively panels of the day.
Another hot topic at the Summit was a panel discussing the future of security tokens, likely to become a major product in the future as this space develops. Josh Stein from Harbour told the panel: “You’ll need a different type of exchange to deal with security tokens.” This is where the work the Gibraltar Stock Exchange (GSX) is planning for Q4 this year will be vital for the development of security tokens, aiming to become fully blockchain-enabled by the end of the year.
Speaking on the future of digital currencies, especially in light of Security tokens, Andy Bromberg from Coinlist told the panel:
“In the long term, the SEC may probably insist on digitising all assets. Regulations then move from being reactive to being proactive.”
After recently attending the major Consensus event in Manhattan, Philip had the opportunity to further connect with people at the Token Summit. He experienced first hand how attendees appreciated and seriously considered Gibraltar as a viable fintech Hub, with many individuals approaching him, and the Gibraltar delegation, to continue the conversation about Gibraltar.
Many conversations came from those who already know what the GBX has been doing—our aim to establish a new era in token sales with best practices through the GBX Grid. Most people have kept a close eye on our progress through the GBX Community on Telegram or our social media channels. The excitement to see the development of an institutional-grade platform that could redefine the token sale experience has been making waves throughout the community, especially at Token Summit.
The media attention for the GBX continues. Whilst at Token Summit, Philip was interviewed by Kate Rooney, Markets Reporter with CNBC and Jean-Claude Chauveau, contributing editor to BlockCoinToday.
Token Summit finished off a brilliant week for Philip in New York, who ended the day at a local coffee house with Mat Travisano, CEO of Wibson and Grandatawho. Philip will be heading back to Europe after an incredible trip to New York. It’s been inspiring to meet so many supporters of the GBX and Gibraltar in general.
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