The world's largest cryptocurrency conference will be in Miami

The world’s largest cryptocurrency conference will be in Miami

The city of Miami will host the largest cryptocurrency conference in history, showing that this asset will become a fundamental link in the global financial system, after it was initially considered a passing trend.

The appointment is scheduled for June 3, 4 and 5 at the Mana Convention Center in Wynwood, and great personalities such as the executive director of Twitter, Jack Dorsey, will share space with about 50 thousand invited people.

In addition, the mayor of Miami, Francis Suárez, will be present, who once publicly announced his wishes to make his city a center of convergence for the world of cryptocurrencies and the entire blockchain system that accompanies them.

In January, Suarez said he was considering allowing citizens to use bitcoin as payment for city taxes and fees.

“We want to be one of the most advanced and technological cities in the country, so we are looking to create a regulatory framework that will make us the easiest place in the US to do business if it does business in cryptocurrencies,” said the mayor, recognized as one of the best in his position at the national level.

Miami, in recent years and despite being a small city compared to other financial and technological destinations in the US such as New York or Los Angeles, has become an important and impressive technological center. His Wynwood neighborhood, in particular, is already emerging as a center for art, technology and innovation.

Bitcoin: the most famous cryptocurrency

Since the beginning of this year 2021, the value of Bitcoin has grown exponentially and in recent days it broke the barrier of 60 thousand dollars per unit. Along the way, he has gotten big companies and visionaries like Elon Musk, CEO of Tesla, to invest billions of dollars in that digital asset that was created more than a decade ago.

Bitcoin is a digital currency that is issued without intermediaries and where the only rule is a computer programming algorithm. In this way, Bitcoin is not controlled by any bank or government.

Each bitcoin or portion of a bitcoin is made available to the market when a complex mathematical algorithm is solved by a computer program that runs on the entire network of computers that are connected globally in order to solve it.

There is the explanation that its emission is supported by a real and “tangible” work that is executed: the resolution of an encrypted computer program.

The algorithm requires advanced computing power and that is why this cryptocurrency is highly criticized since the computers that are necessary to validate transactions and “mine” new bitcoin units consume enormous amounts of electricity, including the air conditioning of the centers of computation to avoid overheating of its components.

Melissa Galbraith
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.