Odaily, a Chinese media site, held the first of a series of conferences that they will be hosting in cities around China. On the 30th of August, the series officially launched in Chengdu City. Chengdu is located in Sichuan province, a region which is estimated to account for approximately half of the Bitcoin network hash rate.
Many prominent business figures were in attendance including the Senior Vice President of OTC firm Matrixport Wu Mengxia. Mengxia delivered a keynote speech and provided data to show the prevalence of institutions in the OTC market. Mengxia noted the presence of institutions as a sign of a maturing market.
Other professionals addressed a variety of different talking points pertaining to cryptocurrency markets, technology, and mining. Alina Yao, the head of OKEx’s mining pool, delivered a keynote speech which addressed the challenges of the staking consensus model. Yao outlined five major obstacles including the security of the staked assets, the price of the coins, and legal concerns around the model. In a roundtable discussion, Fan Xiaojun of Bitmain anticipated that the number of individuals mining in the future will increase.