Blockchain reshapes future of global finance, industry leaders say at ETHConf

Blockchain technology, a decentralized digital ledger that securely records and verifies transactions across a network of computers without requiring a central authority, is rapidly gaining traction among major financial institutions, insurers, and technology companies, according to industry leaders attending the ETHConf 2026 at the Javits Center in New York City.

Organized by ETHGlobal, a leading organization dedicated to fostering the Ethereum developer ecosystem, the three-day conference (June 8-10) brought together more than 5,000 attendees, including blockchain developers, financial institutions, technology innovators, policymakers, and business leaders from around the world.

Among the distinguished speakers at the conference was former U.S. Department of the Treasury Assistant Secretary Shannon Corless, who joined more than 150 industry leaders, policymakers, and innovators in discussions on the future of blockchain, digital assets, and institutional adoption.

Jacob Willemsma, Vice President of Partnerships at ETHGlobal, in an exclusive interview with ‘TLC Drivers’ Voice’ Chief Editor Kamal Ahmed on the sidelines of the conference’s concluding session, said a significant shift has taken place over the past few years, with major financial institutions and insurance companies increasingly showing in the technology due to the several developments occurring simultaneously.

One key factor is that the technology is becoming increasingly stable, scalable and affordable to use, he added.

Willemsma said another major factor driving institutional interest is the growing regulatory clarity in the United States and referred to recent legislative developments, including the GENIUS Act governing stablecoins saying they have provided businesses with a clearer framework for engaging with digital assets.

As regulations become more defined, he said, companies are gaining greater confidence to invest in and adopt blockchain technologies without fear of regulatory uncertainty.

[The GENIUS Act (for payment stablecoins) was passed by congress and signed into law by President Trump in 2025].

The ETHGlobal VP noted that interest in blockchain initially came from technology-focused financial firms such as Robinhood and Coinbase, which have been active in the crypto space for years. “Their success has helped pave the way for broader adoption across the financial sector.”

He added that major financial institutions, including asset management giant BlackRock, are now entering the space.

Looking ahead, Willemsma believes, blockchain will play a major role in modernizing global payments and financial infrastructure.

“Fundamentally, money has not caught up to technology,” he said. “Blockchain and stablecoins allow money to move instantly across borders, settle immediately, and do so at a fraction of the cost of traditional payment systems.”

He added that blockchain technology has the potential to make financial transactions faster, more efficient, and more cost-effective for businesses and consumers worldwide.

For insurers, blockchain technology may offer opportunities to improve claims processing, automate settlements, enhance transparency, reduce administrative costs, and strengthen risk management systems.

These developments could ultimately benefit both insurance providers and policyholders, including thousands of app-based and FHV drivers operating throughout New York City.

Willemsma emphasized that education remains critical to broader adoption.