Parody Protest at Consensus Conference 2018

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Parody Protest at Consensus Conference 2018

The Consensus Conference 2018, which is currently taking place in New Year is already promising to be more vibrant than the previous years. The conference rolled out on Tuesday 15 and would continue onto Wednesday 16, May 2018.

The conference already saw various protesters marching outside the conference venue. Despite the logistic issues, as per reports, the number of protesters who come forth are very impressive.

However, a parody protests took place outside the summit area as experts and crypto enthusiasts were engaged in serious debates and discussions inside. The bizarre outside has captured wide interest.

The “demonstration” was staged by the members of the movement “Bankers Against Bitcoin”. The protestors were seen holding banners and placards. Ironically, contrary to the name, the group is not constituted by crypto critics. The principle aim of the group is to raise awareness on the future dominated by the blockchain and the possible scenarios for the future.

The placards relay messages such as “free Jamie Dimon” and “we thought this was a bubble”. “Hey, hey, Ho, ho. Blockchain has got to go”, a hilarious chanting was also heard to be done by the members.

The manifest of the movement, as published on its website says as:

“This protest is representative of what will happen to those industries and companies that fail to understand times have changed.

Legacy industries that have gone unchallenged for decades will soon begin to see their monopoly slip away. The consumer abuse that’s been possible due to a lack of competition is over. The biggest competitor big banks have ever faced has arrived, and it’s not a company or organization, it’s a decentralized technology.”

Interestingly, this is not the single instance or the first time that the group has come mainstream. At the Miami Bitcoin conference, the group has previously came out for creating awareness.

At the said Miami conference, the group went onto criticising Jamie Dimon. The group has been coming out against the constant bashing of crypto space and bitcoins by the Wall Street naysayers and also the FUD-mongering journalists, who makes it a habit of writing down the bitcoins.

The cardinal points of the Consensus Summit 2018 are that there had been high turnout, as reported by social media monitors. The billionaire FedEx chairman, Fred Smith’s comments on Blockchain, “Blockchain has the ability to completely change logistics as we know it”, has been a substantial highlight.

The President of the St. Louis Federal Reserve, James Bullard view on crypto was rather dim. He is reported to say, “Cryptocurrencies might be pushing in the wrong direction in solving an important issue.”  Bullard’s arguments are based on the instance that the crypto are non-uniform, and through it might work globally but it would be discrete as a national currency.

Unless a ‘screw up’ happens, his arguments restate that the dollar would remain de facto global world currency. He also avails a possibility wherein both private and public currencies could co-exist in equilibrium.


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