PHOTO
- Blockchain ecosystem created by DMCC witnessing rapid growth
Dubai, UAE: The UAE is a “symbol of embracing technology,” according to the founder and CEO of Binance, the world’s largest cryptocurrency exchange in terms of daily trading volumes.
Discussing technology adoption as part of the Defi and Crypto Talks on day two of the 4th Future Blockchain Summit and the first edition of Fintech Surge at Dubai World Trade Centre (DWTC) – taking place until 20th October - Binance CEO and founder Changpeng Zhao lauded the UAE’s digital approach.
“Things happen here very fast, it is one of the most pro business environments in the world and things are built with real quality - I wish I had visited here earlier,” said Changpeng.
Changpeng added other governments should follow suit and change their outlook when it comes to digital transformation. He said: “I think there is a lack of understanding that causes fear, and this is not the right approach. We should embrace anything with the potential to disrupt. We should invest in anything that can disrupt the current order, and we should encourage that to grow because tech and innovation will happen regardless. The leaders here have that mindset, and this is very encouraging to see.
“Don’t be afraid to embrace disruption, it will help countries to grow. It is new tech, and you cannot ignore new technology. This country already understands that and is a symbol of embracing technology. This country gets it. Work with us, let us experiment together in a safe and compliant way to grow the industry.”
Earlier, Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC (Dubai Multi Commodities Centre), emphasised the rapid growth in Dubai’s technology sector and the desire from businesses to play their part.
“DMCC created a blockchain ecosystem in our free zones and without even pushing hard we know we are going to exceed 1,000 crypto businesses at DMCC, we are going at that speed, and we have a lot of interest,” he said.
“I have to take my hat off to the blockchain and crypto community around the world., they don’t just sit with one product, it is not all about business it is about trust as well.”
Meanwhile, CoinMENA co-founder Talaa Tabbaa discussed how cryptocurrencies are resulting in the biggest transfer of wealth in history, while industry experts talked about the differences between DeFi and CeFi and outlined the opportunities for NFTs in Bollywood and the wider world of entertainment during a series of thought-provoking panel discussions.
At Fintech Surge, the show co-located with Future Blockchain Summit as part of GITEX Global, the world’s largest technology showcase of this year, key sessions included the democratisation of Islamic capital markets and fundraising strategies for early startups.
-Ends-
About Dubai World Trade Centre:
With a vision to make Dubai the world’s leading destination for all major exhibitions, conferences and events, DWTC has evolved from being the regional forerunner of the fast-growing MICE industry into a multi-dimensional business catalyst, focusing on Venues, Events and Real Estate Management. Complementary to the primary service offerings are a range of value-added services from media/advertising, engineering and technical consultation and wedding planning, security services and an award-winning hospitality portfolio.
For more information, please contact:
James Dartnell (English)
Manager – PR & Media Relations
+971 4 308 6354
james.dartnell@dwtc.com
Sura AlYaziji (Arabic)
Manager – PR & Media Relations
+97 150 380 3852
Sura.AlYaziji@dwtc.com
Or, reach out to Future Blockchain Summit and Fintech Surge 2021’s official PR agency, Action Global Communications, via: fbs@actionprgroup.com
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
