Reflections on Korea Blockchain Week 2024

Another year, another Korea Blockchain Week down.

I had a fantastic time connecting with friends, new and old, from across the globe at the many side-events throughout the week. That said, this year’s conference prompted some reflections and questions on the state of our industry which I feel compelled to share.

The Good:

• Global scale providing unique networking opportunities — KBW has become increasingly global over the years, and this year was no exception. Both attendees and exhibitors descended on Seoul, giving the city a distinctly international feel.
• Community still wins — It was clear that community-driven events attracted significantly more interest than other projects. The TON community did a particularly impressive job of this, being oversubscribed at most of their events throughout the week.

The Bad:

• Fragmented event locations and attendee groups — With the conference venue being so far from Gangnam, it was difficult for participants to easily get to side-events.
• Crypto-native culture reinforcing negative stereotypes — We saw some huge advertising campaigns from projects during the week (billboards, parties etc), but how impactful were these in terms of reaching a Korean retail audience? And how have they addressed some of the negative stereotypes that exist about crypto usage?

The Ugly:

• Excessive side events vs. actual user base — Was the high number of side-events representative of capital flows and project user bases? Some projects seemed to have splurged huge amounts of capital on events without any clear signs that they are rewarding their users.
• Closed-off nature despite open-source ethos — The holy grail of crypto has always been mass adoption, but to outsiders, KBW seemed like nothing more than a passing fad. This became especially more evident when networking, with lots of closed-off parties open only to project insiders. Is this really the best way to create inclusion in the wider blockchain community?

???? Korea's Potential as a Web3 Hub:

Despite the challenges, I remain bullish on South Korea becoming a major player in the Asian Web3 scene. Its strategic location, strong infrastructure, education system, and consumer-driven culture make it an ideal candidate to rival Dubai and Singapore in their respective regions. We also have some amazing grassroots crypto communities with groups like CURG doing some great groundwork to spread adoption.

?? Reimagining Crypto Events:

With 300+ side events (and apparently 400 scheduled for Token2049), it's time to rethink how we approach conferences. Instead of just parties and logo placements, projects should create engaging, interactive experiences that:

• Showcase flagship products
• Offer hands-on workshops and demos
• Blend local culture with project activities
• Foster meaningful discussions and debates, rather than the same narratives being repeated
• Promote wellness and mindfulness

As we turn our attention to Token2049 in Singapore, I think it’s worth focusing on creating more meaningful, impactful events that truly showcase the potential of our industry. With 20+ conferences each year, it's easy to blow budgets on marketing – but we need to be smarter and more intentional with our approach.

What are your thoughts on the future of crypto conferences?

How can we better balance networking, education, and meaningful product showcases? Let me know your thoughts in the comments!

#Crypto #Blockchain #Web3 #KoreaBlockchainWeek #KBW2024