What is consensus?
Consensus is an annual blockchain convention organized by Coindesk held in New York City. This year, Consensus supposedly has over 8500 attendees, and some tickets were sold for over $2000. Over 250 guests will speak, including top executives from the blockchain industry.
In addition to the main event, there are several meet ups outside the convention, which is why May 14th-May 18th is dubbed “blockchain week”. During some of those meet ups, smaller projects can network with powerful people in the industry and help educate others about their ambitions.
Why is this a big deal?
Consensus and blockchain week present a great opportunity for people to share their new blockchain related projects. Newcomers will learn about the benefits of blockchain technology and cryptocurrencies. Consensus is a venue for executives to market their own project on a large scale, which is important in an industry where news oftentimes comes from secondary resources.
So will this raise the price of Bitcoin?
It is impossible to tell. There are have been similar big events this year in Miami, San Francisco, Seoul, and South Korea that did not seem to direct impacts on the price of Bitcoin. Confidently predicting the short-term price of a cryptocurrency without some sort of insider trading information is impossible. However, educational events like Consensus should promote awareness about Bitcoin and other cryptocurrencies and get people excited about the future in crypto technology.