Future Blockchain Summit 2024 opens in Dubai

This event marks a significant gathering of industry leaders, innovators, and enthusiasts, all converging to explore the latest advancements and opportunities within the blockchain ecosystem.

With an action-packed agenda bringing together influential minds from across the global industry, the Future Blockchain Stage featured a series of sessions under the theme 'Investments in Blockchain & Gaming.'

Marwan AlZarouni, CEO of AI, Dubai Department of Economy and Tourism, led a session, highlighting Dubai's leadership in AI and blockchain innovation, as well as its approach to AI.

"Dubai, a city known for its ambition and forward-thinking vision, welcomes you to explore the potential of your AI and blockchain projects. With unparalleled resources, a business-friendly environment, and a commitment to embracing the future, it provides the ideal platform for your groundbreaking ideas to thrive. Here, you can engage with us and our regulators to bring your projects to life. If it can't be done anywhere else in the world, it can be done here," he said.

Another forward-looking session saw Ahmed Bin Sulayem, Executive Chairman and CEO, Dubai Multi Commodities Centre (DMCC), talk about the potential impact of AI, crypto and gaming in the future of trade. "I think from 2026 you won't recognise your life. It will continue to change. Security will be the deciding factor of how far we go, but automated systems, AI and blockchain would be very well embraced," he said.

The accelerated institutional adoption of blockchain technology was a key focus area. John Fan, Venture Partner, Inception Capital, USA, Marcel Kasumovich, Deputy Chief Investment Officer, Coinbase Asset Management, Oliver von Wolff, Founder & CEO, Helion Edge, UAE and Mansoor Madhavji, Partner, Blockchain Founders Fund, UAE, shared insights in a panel discussion that delved into how the market in Dubai is poised for substantial growth, with expanding blockchain investments, new asset classes, and a rising role for digital securities.

Madhvji commented, "We've been investing in the blockchain space since 2017, and since relocating to the UAE in 2020, we've witnessed a significant transformation in the region. The government's initiative to delink visas from employers has been a game-changer, attracting top-tier founders who can now set up offices without worrying about talent mobility. This freedom of movement has led to the emergence of highly polished startups, comparable to those in San Francisco or Singapore. In the past year alone, we've invested in six or seven UAE-based startups. The UAE is rapidly becoming a global hub for blockchain innovation, with key industry players and potential founders converging here, especially during major conferences."

Mike Williams, Chief Communication Officer, Toobit shed light on the investment opportunities in blockchain technology.

"Tokenisation of real-world assets (RWA) is one of the most transformative trends we are excited about. Projects are increasingly using blockchain to fractionalise traditionally illiquid assets such as real estate and commodities, making them accessible to a broader audience. By exploring the possibilities of listing RWA tokens, we aim to expand our users' investment options and drive innovation in the blockchain space."

"Today, crypto is not just an asset class, it is a growing community. Geographically, we see regions like Southeast Asia, Middle East and Africa becoming key players in driving innovation and creating new crypto markets," Williams said.

Among other features, Web3 gaming took centre stage at the event, representing a seismic shift from traditional gaming models. Blowfish Studios, a fully owned subsidiary of Animoca Brands, showcased their AAA open-world space adventure with integrated blockchain technology as well as a new cooperative game mode where players can team up to complete objectives online, offering attendees a hands-on experience of the future of blockchain gaming.

An integral part of Expand North Star, powered by GITEX GLOBAL, tomorrow's agenda will spotlight the evolution and innovations in DeFi, bringing together more than 1,200 investors, 120 exhibitors, and 150 speakers from 50+ countries to shape the future of blockchain. (ANI/WAM)