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After a year of upheaval for energy and Web3, here are 5 trends to watch

The founder of Pittsburgh's second annual Crypto Energy Summit notes the day's biggest takeaways.

Wind turbines. (Photo by Flickr user b sarangi via a Creative Commons license)
This is a guest post by Thomas Schmaus, founder of the Crypto Energy Summit.

The past year presented unparalleled upheaval in the Web3 and energy industries, from surging gasoline prices to the Bitcoin crash to the implosion of FTX to a land war and energy crisis in Europe.

Where do we go from here?

The second annual Crypto Energy Summit hosted by TVS Events took place on May 11 in Southpointe. One hundred attendees joined to discuss blockchain, bitcoin, energy, finance and the military. The summit’s 28 speakers included government officials, energy executives, Web3 founders, venture capitalists and military officers.

Here are some of the biggest takeaways from the day:

  • The future will increasingly belong to blockchain and artificial intelligence. The conference demonstrated that blockchain has moved beyond the lab into positive world improvements. Blockchain makes it possible for subsistent farmers to be paid for their carbon value, and for payments to be made to the “unbanked” who have no access to traditional financial institutions.
  • The progression to a zero carbon future is inevitable but will only happen with hard work, not polemics. For the foreseeable future, both fossil fuels and renewables such as solar, nuclear, wind and hydro will all play a role.

Crypto Energy Summit 2023 attendees. (Courtesy photo)

  • The energy grid of the country will need continual improvement as more and more energy is consumed as consumers add more appliances and devices.
  • Innovations in the areas of carbon capture repurposing stranded natural gas and improvements in large-scale battery technology are crucial for future energy security.
  • The war in the Ukraine has demonstrated that the country cannot be complacent about the threats that Russia and China represent, not only in the energy sector but in the global relationships of nations.

Why host these discussions in Pittsburgh? Perfectly situated in the heart of the Marcellus Shale and within an hour of the largest coal mine and wind turbines in Pennsylvania, Pittsburgh is at the epicenter of Pennsylvania’s energy sector. Pittsburgh is also home to a thriving startup scene, and world class universities, colleges and companies. Pittsburgh is literally the spot where energy, technology and Web3 meet.

Next year’s conference will once again take place in Pittsburgh in May. Look out for more details in the coming months.

Crypto Energy Summit 2023 attendees. (Courtesy photo)

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