Parachainglobal：Up to 50% coverage of blockchain or cryptocurrency companies on the main street of Davos town

 Davos is a well-known Swiss resort for spas, conferences and sports. In addition, the World Economic Forum (also known as the "Davos Forum") is also held in the town for the first time.

 

This year, the conference in Davos provided attendees with free bitcoin pizza booths and a "liquidity lounge," and despite the recent collapse in the value of the digital coin, blockchain and cryptocurrency companies have dominated the town. About 50% of the storefronts on the street.

 

Small traders are flocking to cryptocurrencies in hopes of quick returns, despite warnings from regulators that emerging assets can be high-risk. The crypto crowd has a prominent place in Davos, albeit mostly on the sidelines of major events, where $800 billion was wiped off the cryptocurrency market cap earlier this month.

 

The World Economic Forum, which typically caters to the financial elite, including major banks such as Citigroup and Credit Suisse, is currently hosting a panel on the carbon footprint and future of cryptocurrencies, as well as a panel on decentralized finance.

 

“It’s on the rise both inside and outside the gate,” said Stan Stalnacker, chief strategy officer at social network Hub Culture, which also operates a digital currency, referring to the cryptocurrency’s presence at conferences and off-site.

 

Stalnacker estimates that about 50 percent of the town's storefronts have been occupied by blockchain or cryptocurrency companies during the event.

 

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