The world’s longest-running blockchain summit finally makes its way to Dubai for 2024. The Blockchain Summit is an avenue where well-known personalities in crypto and startups can be seen and exchange ideas and advancements in blockchain technology.
Dubai: Blockchain Leadership And Innovation
Dr. Marwan AlZarouni, CEO of AI, at the Dubai Department of Economy & Tourism, opened the summit. He said that his city is committed to innovation by deploying resources, implementing a business-friendly environment, and regulatory engagement. He shed light on Dubai’s role as a global leader in blockchain and artificial intelligence. He expressed that Dubai is the kind of place where groundbreaking AI and blockchain projects will flourish. “If it can’t be done anywhere else, it can be done here,” he said.
The Jumeirah Burj Al Arab in Dubai. Image: Jumeirah
Ahmed Bin Sulayem, Executive Chairman & CEO of Dubai Multi Commodities Centre (DMCC), said he sees the exponentially growing potential for AI, cryptocurrency, and gaming, and stated which of these could hold the biggest keys for the future. “Great changes in 2026”, he said, “Automation, AI, and blockchain will have a massive role in the trade. Security will be the main aspect that will prove innovative in the future.”
As of today, the market cap of cryptocurrencies stood at $2.23 trillion. Chart: TradingView.com
Blockchain Adoption And Investment Opportunities
The summit also had a blockchain institutional adoption panel, with participants including experts like John Fan of Inception Capital, Marcel Kasumovich from Coinbase Asset Management, Oliver von Wolff of Helion Edge, and Mansoor Madhavji from Blockchain Founders Fund.
Image: Fabrick
The convention tackled the growth happening in the Dubai market, where increasing investments in blockchains were noticed, not to mention digital securities and other related initiatives. Madhavji agrees with the effectiveness of how the UAE was transformed into a global blockchain hub through numerous programs that were spearheaded by the government, such as delinking visas from employers, which attracted top-tier founders, therefore creating high-quality startups in the region.
A topic raised by Mike Williams, Toobit’s Chief Communication Officer, regarding investment opportunities in tokenizing real-world assets, garnered a lot of buzz as blockchain makes normally illiquid assets such as real estate more accessible through fractionalization. According to Williams, the growing interest now comes from regions such as Southeast Asia, the Middle East, and Africa.
Web3 Gaming And Future Prospects
Meanwhile, a highlight of Web3 gaming was the presentation of the blockchain-integrated space adventure game from Blowfish Studios, an Animoca Brands subsidiary, which gave the attendees a glimpse of the future of gaming in a new cooperative mode to demonstrate how blockchain can change traditional gaming models.
The summit is sponsored by Expand North Star and Gitex Global and will continue with sessions on DeFi, with over 1,200 investors, 120 exhibitors, and 150 speakers from 50+ countries.
Featured image from TUI, chart from TradingView