Musk and Dorsey to discuss environmental concerns of Bitcoin and how it can be adopted and improved.
What is “The ฿ Word”?
“The ฿ Word” is a conference and an initiative by Crypto Council for Innovation that aims at busting the myths and spreading the truths about Bitcoin.
“The ฿ Word will launch on July 21, 2021,” the website reads, “offering a live experience and a library of content to the investor community, enabling a more informed discussion about the role Bitcoin can serve for institutions across the globe.”
The event will feature discussions about making people aware of Bitcoin, growing a larger community of developers, adopters, and investors, and especially institutions.
Musk vs Dorsey
The centerpiece of the event features a long-awaited discussion between Elon Musk and Jack Dorsey about Bitcoin.
It all began when Dorsey tweeted a link to the conference’s website and Musk became engaged in the conversation.
Dorsey is a long-time Bitcoin proponent. On the other hand, Musk has a vacillating stance. Both Dorsey’s Square and Musk’s Tesla hold large reserves of Bitcoin and are heavily involved in the development of the ecosystem.
A prime area of debate will be the environmental impacts of Bitcoin mining.
Dorsey believes that Bitcoin incentivizes renewable energy. Musk has shifted his stance to the contrary. His candid and capricious tweets have drawn flak over the past few months.
Tesla had announced in March that it would start accepting payments in Bitcoin only to roll back the payment option in May citing environmental concerns. But Tesla has retained its Bitcoin holdings.
The two have been engaging in twitter banters for over a month and will now come face to face to argue for their perspectives on cryptocurrencies, especially Bitcoin.
There are many more industry stalwarts like Cathie Wood – CEO of Ark Investment Management, Adam Back – CEO of Blockstream, Dr. Neha Narula Director of the Digital Currency Initiative, Hester Pierce – SEC Commissioner to name a few who will be delivering keynotes.
Areas of focus
The event focuses on 5 tracks, “Demystifying Bitcoin,” “Supporting The Developer Ecosystem,” “Securing The Bitcoin Network,” “Regulating Bitcoin” and “Preserving The Bitcoin Ethos.”
Cryptocurrencies have come a long way from just a fad in the fintech space to be accepted as a legal tender. It would be interesting to see how things unfold in the foreseeable future especially during a global pandemic.The B word will start at 9:30 P.M. IST on July 21, 2021