Money20/20’s primary goal is to help advance innovations in payments and financial services for a world where commerce is an ‘anywhere, any time’ connected experience. Since our inaugural event in 2012, bitcoin and the associated cryptocurrency technology has become one of the most prolific areas of innovation in the industry—and Money20/20 has made a conscious and concerted effort to ensure its coverage.
Each year, our sessions on cryptocurrencies are standing room-only. This year, we’ll have 40 leaders (almost 10% of our speakers) addressing a wide range of related topics over 3 days of programming called (Bit)coinWorld at Money20/20, structured with a goal of increasing awareness of technologies, companies and applications. Money20/20 is unique in our ability cross-pollinate this new and important sector with the more established segments of the money ecosystem.
Successful Tool for Engagement
We do, of course, accept bitcoin as a payment option for attendees and sponsors, and we’re glad we’ve held on to it from payments we received for last year’s event. Recently, however, we decided to expand our use of bitcoin, and offer it as an incentive to the broad base of innovators in payments and financial services who attend Money20/20.
Two weeks ago, we sent a survey to the several thousand attendees that have already registered for 2014’s Money20/20 with an optional incentive of 0.01 BTC for everyone completing the survey. We provided a link to our registration partner, Coinbase, for anyone wanting to create a bitcoin wallet. With an audience from throughout the payments and financial services industry that’s more than 35% C-level and almost 70% VP and above, we were curious as to how many people would take us up on the bitcoin offer.
With an incredible double-digit response rate to our survey, a staggering 29% of respondents provided a bitcoin address, exceeding even our highest estimates. Based on the tremendous success of bitcoin as a means to engage with attendees, we’re expanding its usage to drive registrations. For the week of August 11 only, Money20/20 is offering 0.1 BTC as an incentive for anyone registering as a paid attendee. If the results from our recent survey are any indication, we expect bitcoin to provide a nice lift to our mid-August registrations.
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