Costas Mavrides, Eleni Shiarly, Angelos Exadactylos and Pavlos Mundis, members of our firm's Blockchain and Cryptoassets legal team attended Blockchain Fest 2022 Cyprus , an interactive event on Blockchain, Cryptocurrencies, Decentralised Finance (DeFi), NFTs, Mining and more. Leading professionals from the blockchain industry attended the conference and our team attended many interesting presentations and discussion panels on subjects as diverse as the Blockchain ecosystem in Cyprus, financial technology innovation, the Metaverse and sports sponsorship investment.

For the first time in the history of the event, Blockchain Fest 2022 featured a panel involving participants from the Cypriot banking sector. Their participation engendered a fascinating discussion regarding the local banking sector's approach to innovation in the field of financial technology (FinTech) as well as the obstacles faced in adopting or supporting blockchain initiatives and potential ways of overcoming them. The banks' participation indicated both the increasing adoption and legitimisation of cryptocurrencies and changing perceptions as to how various initiatives for implementing blockchain technology can provide technological solutions to solve real world problems in both the public and private sector.

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