October 15, 2024
By Our Correspondent
The Future Blockchain Summit 2024 has commenced at Dubai Harbour, attracting participants from the worldwide blockchain and cryptocurrency sectors. This event represents a pivotal assembly of industry leaders, innovators, and enthusiasts, all gathering to investigate the latest developments and prospects within the blockchain landscape. The agenda is filled with dynamic sessions featuring prominent figures from the global industry, with the Future Blockchain Stage focusing on the theme ‘Investments in Blockchain & Gaming.’ Dr. Marwan AlZarouni, CEO of AI at the Dubai Department of Economy & Tourism, led a session that underscored Dubai’s role as a leader in AI and blockchain innovation, as well as its strategic approach to AI.
He stated, “Dubai, a city recognized for its ambition and progressive vision, invites you to explore the possibilities of your AI and blockchain initiatives. With unmatched resources, a conducive business environment, and a dedication to embracing the future, it serves as the perfect platform for your innovative ideas to flourish. Here, you can collaborate with us and our regulators to actualize your projects. If it cannot be accomplished anywhere else globally, it can be achieved here.” In another forward-thinking session, Ahmed Bin Sulayem, Executive Chairman & CEO of the Dubai Multi Commodities Centre (DMCC), discussed the prospective influence of AI, cryptocurrency, and gaming on the future of trade. He remarked, “I believe that by 2026, your life will be unrecognizable. Change will be constant. Security will be the key determinant of our progress, but automated systems, AI, and blockchain will be widely accepted.”
The rapid institutional embrace of blockchain technology emerged as a significant topic of discussion. A panel featuring John Fan, Venture Partner at Inception Capital, USA; Marcel Kasumovich, Deputy Chief Investment Officer at Coinbase Asset Management; Oliver von Wolff, Founder and CEO of Helion Edge, UAE; and Mansoor Madhavji, Partner at Blockchain Founders Fund, UAE, provided valuable insights into the promising market landscape in Dubai. They highlighted the potential for considerable growth driven by increasing blockchain investments, the introduction of new asset classes, and the expanding significance of digital securities. Madhavji remarked, “Our investments in the blockchain sector date back to 2017, and since our move to the UAE in 2020, we have observed a remarkable evolution in the region.
The government’s decision to separate visas from employment has been revolutionary, drawing in exceptional founders who can establish offices without concerns regarding talent mobility. This newfound flexibility has fostered the development of sophisticated startups, rivaling those in San Francisco or Singapore. Over the past year, we have invested in six or seven startups based in the UAE. The region is swiftly emerging as a global center for blockchain innovation, attracting key industry figures and aspiring founders, particularly during significant conferences.”
Mike Williams, Chief Communication Officer at Toobit, highlighted the investment prospects within blockchain technology. “The tokenization of real-world assets (RWA) represents one of the most groundbreaking trends we are enthusiastic about. Increasingly, projects are leveraging blockchain to fractionalize traditionally illiquid assets like real estate and commodities, thereby making them accessible to a wider audience. By investigating the potential for listing RWA tokens, we aim to broaden our users’ investment opportunities and foster innovation within the blockchain sector.”
Today, cryptocurrency has evolved beyond merely being an asset class; it has developed into a vibrant community. Regions such as Southeast Asia, the Middle East, and Africa are emerging as significant contributors to innovation and the establishment of new cryptocurrency markets, according to Williams.
At the event, Web3 gaming emerged as a focal point, signifying a substantial transformation from conventional gaming paradigms. Blowfish Studios, a wholly owned subsidiary of Animoca Brands, presented their AAA open-world space adventure that incorporates blockchain technology, along with a new cooperative game mode that allows players to collaborate online to achieve objectives, providing attendees with a tangible glimpse into the future of blockchain gaming.
