Bitcoin may not have been high on the agenda of Web Summit 2014, but a number of companies expressed an interest in the subject and even announced imminent involvement with digital currency.
The tech conference, which has grown from 400 to 20,000 attendees in four years, had seven âstagesâ, spanning digital marketing to sports and entertainment, along with a roster of high-profile speakers. These included Dropbox founder Drew Houston, actress Eva Longoria and and skateboarding legend Tony Hawk.
Bill Ready, chief executive of payments processor Braintree, which also operates the popular mobile wallet Venmo, spoke at the event. He said bitcoin could be one of several payment modes in a âmulti-wallet worldâ.
He told the audience:
âIn this multi-wallet world weâve run into ⦠you need to deliver [convenience to users] to a wallet ⦠Whether youâre using PayPal for one-touch or Venmo for one-touch; Apple Pay or bitcoin.â
Speaking to CoinDesk, Ready stressed that he saw bitcoin as âcomplementaryâ to mobile wallets and that it would co-exist with other payment methods including credit and debit cards.
Payment processor PayCash announced at the conference that it would allow merchants in Europe to take bitcoin payments, following a partnership with Kraken, an established exchange for euro-bitcoin trading.
Another European payments firm, Adyen, also told CoinDesk it was working on bitcoin integration, which could launch next year.
Looking outside of payments, the founder of digital signature company DocuSign, Tom Gonser, told CoinDesk his firm was experimenting with bitcoin and blockchain technologies in its research and development lab. Notably, DocuSign counts financial institutions like GE Capital and First American Bank among its customers.
Gonser pointed to bitcoinâs decentralised nature as having the potential to change the way digital identities are secured in the future.
Yoni Assia, chief executive of Etoro, extolled bitcoinâs worth as an asset class, calling it âdigital goldâ. Etoro is a âsocial tradingâ platform, allowing users to trade bitcoin âcontracts for differenceâ, a type of derivative.
Assia said: âBitcoin is disrupting both technology and financial markets. Itâs the new global currency ⦠people refer to it as the TCP/IP of value.â
He added:
âBitcoin is digital gold. Gold was the technology to transfer value for the past 5,000 years. That was before technology was really invented. Bitcoin uses logic, the Internet and computer sciences to replicate that, over the Internet.â
The Bitcoin Foundationâs chief scientist Gavin Andresen took to the eventâs âCentre Stageâ today, speaking with the Wall Street Journalâs Lisa Fleisher, about centralisation in bitcoin mining, regulation and the future of digital currency.
On the subject of regulation, he said:Â âGetting regulatory clarity is really important. In the last year, year and a half, weâve seen more regulatory clarity. I think itâs been incredibly positive for bitcoin, but now we need regulation that isnât going to kill innovation.â
Andresen wasnât the only member of the bitcoin community present at the summit â several bitcoin companies had booths at the event, including BitPay, BitMEX and SpectroCoin. Executives of bitcoin firms such as Circle were also seen in attendance.
Featured image via Flickr.