Positivity ignites in a bear market: The Blockchain Economy in Istanbul 2022

Held at the Hilton Bomonti, a luxury hotel next to a renovated and reused brewery in Istanbul, the fourth edition of the 2022 Blockchain Economic Summit (BE2022) has proven to be a significant step over its predecessors prior to the pandemic.

The previous summit, BE2020, was held at the WOW Convention Center two years ago. In addition to being located in a hard-to-reach part of Istanbul, the summit coincided with the outbreak of COVID-19, which further affected the overall attendance. Since the sole purpose of this place is to organize large-scale events, the crypto community a couple of years ago wasn’t big enough to fill the void. As a direct result of the above factors, BE2020 felt like a two day trip to a ghost town.

Attendees at Blockchain Economy Istanbul 2022 described the summit as dense, lively and full of energy, setting it in stark contrast to BE2020 in almost all aspects. It was also the first international crypto and blockchain event to be held in the region since Turkey lifted the travel ban restrictions. As a result, members of the crypto community – from both western and eastern countries – can join the celebration.

The list of events had a good balance between local companies and global players in the crypto space. While big shots such as Binance, Huobi or FTX were conspicuously absent from the event, the main hall was filled with logos of major companies such as KuCoin, Gate.io, Bitget, Bitmex and Uphold. Despite her recent problemsGari Network wore the main sponsor badge for the entire event.

For two days, the main hall never had a dull moment: people were there mainly for communication purposes after two years full of closures and travel bans – and it’s hard to say they missed out on a lot by not attending sessions at the main conference platform.

Cointelegraph ground team has a special Turkish goat milk-based ice cream called “Maraş dondurması”.

Sure, some exciting names like MicroStrategy Michael Saylor (although he joined via video call) or Davinci Jeremie, “Please buy only 1 bitcoin (BTC) “Man, it was on the main schedule. But, unfortunately, the program saw more participation from local or regional speakers than is necessary for an international event of this size – and the supercooling in the boardroom didn’t help either.

Chilled, people lost interest in interpretation, and returned to the main area where a giant-sized samurai dog statue from the blockchain-based Battle Royale Katana Inu greeted them in a frightening way. The best part? Most of the keynote speakers made themselves available for a short chat in the main hall after their theatrical performances.

KuCoin Labs President Lou Yu explains the latest trends in Web3 development

Cointelegraph reached out to several keynote speakers for some quick comments and in-depth conversations, including Head of KuCoin Labs Lou Yu And the AAX exchange exec Ben Caslin.

The BE2022 event was more beneficial for the young and talented developers in the community, of which Turkey includes a lot. During the event, Ali Dorson was able to showcase his blockchain gaming platform Ratic to a host of global exchanges and venture capitalists. Aybars Dorman introduced Metavest, a new experience Decentralized Finance (DeFi)to the participants, and Yotta21 founder, Yunus Sebesi, made important industrial contacts in the smoking area.

Zignaly co-founder Abdul Rifai Gadet explaining their project to Cointelegraph Business Development Director Anton Kabatov and Editor Erhan Kahraman

Two things were clear: First, the COVID-19 pandemic could not slow the growth of the cryptocurrency ecosystem. For many of the participants, Blockchain Economy Istanbul 2022 was their first foray into networking with the rest of the industry, and they thrived making the most of it. Secondly, no matter how low the cryptocurrency market is, price fluctuations cannot shake the positivity of the crypto ecosystem.

Looking at everything that happened during the event, Blockchain Economy Istanbul 2022 Summit reinforced that regardless of market conditions, the cryptocurrency ecosystem is ready to invest time, money and energy to stay positive.