Reflections from Wyoming Blockchain Symposium

All eyes are on Jackson Hole each August, with the Fed gathered for their annual economic symposium. And this year, just a few miles up the road, SALT, in partnership with Kraken Digital Asset Exchange , gathered titans of the crypto industry for the inaugural Wyoming Blockchain Symposium (WBS). The timing was intentional - a decentralized finance gathering right next door to the central bank. 

Folks from across traditional and decentralized finance came together at WBS and everyone felt the optimism that had been missing in the industry over the last few years. Following countless conversations with C-suite executives, policymakers and other attendees, I wanted to share three takeaways from this year’s event.

1. Wyoming is leading the way

We were fortunate to be joined by some of Wyoming’s most prominent politicians - including Governor Mark Gordon, U.S. Senator Cynthia Lummis and State Rep. Cyrus Western. It’s no secret that I’ve long admired the politics of the state, with their belief in rugged individualism, liberty and a throwback sense of American adventure. We heard how their politicians think about regulation and confirmed that Wyoming is setting the standard for effective crypto policy in the U.S. We cannot keep applying centuries-old rules to a burgeoning industry, we must adopt and create laws similar to what they are doing out west to keep innovation in America. 

Wyoming has already passed laws setting the legal status of crypto and encouraging blockchain companies to operate in the state, and Governor Mark Gordon announced at the event the state’s plan to create its own USD-backed stablecoins (termed a stable token by Wyoming), in early 2025. Stablecoins are a vital part of the industry that will help facilitate the widespread adoption of blockchain technology and open new global market exchanges with instant value transfer settlements - a rancher in Wyoming can sell their sequestered carbon credits to a buyer in Abu Dhabi within seconds.

2. The institutions are here

It’s no secret that institutional interest in digital assets has been growing with many players, including BlackRock, Fidelity and Franklin Templeton, moving into the space and joining us onstage. SALT’s CEO John Darsie spoke with Jenny Johnson , CEO of Franklin Templeton , about the firm’s outlook on digital assets and the origin story behind launching the world’s first mutual fund that uses blockchain technology to process transactions and record share ownership. 

The amount of institutional attendees made it clear – they are here and want to learn more about the crypto industry. The days of skepticism are long gone, indicating a bullish sentiment and a hope for a clear regulatory framework over the next year, no matter who is in the White House. 

3. Take something bad and use it for good 

On the second night of the conference, guests were treated to a horse whispering experience by the legendary Grant Golliher. Grant was full of wisdom applicable in and out of the saddle. His biggest lesson for me? Take something bad and use it for good. The entire crypto community was impacted by the challenges and stigma associated with FTX, but it was important for us, as leaders in the space with the power to convene, to move forward and focus on the future – WBS did just that.  

Thank you to all who made this possible – staff, sponsors, attendees and other supporters. I’m incredibly grateful for each and every one of you. And I’m already looking forward to seeing you all there again next year.