Binance Blockchain Week Dubai 2024: Highlights from Day One

Binance Blockchain Week 2024, which stands out as the largest event organized by Binance so far, started in Dubai.

At the event attended by more than 200 speakers, important messages were given about the future of the blockchain world. While the main theme “Momentum” emphasized the continuity of growth in the sector, leading names emphasized critical topics for the development of the ecosystem.

“2024 Continues to Be a Milestone for Blockchain”

Binance CEO Richard Teng said that the US ETF approval in 2024 is considered a major development in the crypto industry. “Institutional investors are now creating their own agenda for blockchain technology. “This means both opportunities and challenges in the industry,” said Teng, emphasizing the need to think about how blockchain should prepare for the future. He also stated the importance of collective work to achieve a more inclusive structure of financial services.

“Dubai Has Become a World-Class Technology Center”

Khalfan Belhoul, CEO of Dubai Future Foundation, stated that Dubai was perceived as a complex region twenty years ago, but today it is recognized as a technology hub. While emphasizing that Dubai’s leadership is shaped by a vision that does not hesitate to take risks, Belhoul said, “The Web3 world does not have a clear definition yet, but topics such as privacy, security and interoperability are at the forefront.” He added that Web3 and artificial intelligence integration offers trillion-dollar new opportunities.

“Dubai Maintains Its Global Leadership in Blockchain”

Dubai Blockchain Center CEO Dr. Marwan Alzarouni stated that blockchain is accepted as a mainstream technology in Dubai and said, “We invested early in this field and are moving forward with the right business partners.” Alzarouni stated that Dubai only compares itself with its own development, not with other regions, and that they are much more experienced in blockchain than they were ten years ago. “Regulation is essential for blockchain to reach the mainstream,” he added.

“El Salvador Aims to Transform into a Digital Asset Center”

JC Reyes, President of the National Digital Asset Commission of El Salvador, announced that El Salvador aims to become a digital asset and crypto hub with the vision of President Bukele. Reyes stated that his country has established a comprehensive regulatory framework to support this vision. “Regulators have to understand electric vehicles; “The old methods of regulation are not valid here,” he said, emphasizing the importance of increasing the level of education and knowledge.

“Regulation and Licensing Necessary for Crypto”

SGB ​​CEO Shawn Chan stated that the most important issue in the industry is regulation and licensing. Chan said, “Once these frameworks are formed, more opportunities will arise for institutional investors,” and added that payment systems and stable currencies play a critical role in the growth of the sector.

“Institutional Investors Approach Crypto with More Confidence”

Gargash Group Strategy Chief Executive Walid Hizaoui stated that as the crypto world began to be regulated, institutional investors entered the sector with more confidence. “Frictionless user experience will be the key to transition to mass use,” said Hizaoui, drawing attention to the importance of projects offering easy-to-use applications.

“Preparations are underway for One Billion New Users”

Binance CTO Rohit Wad said that as Binance, they are increasing their speed to reach the next billion users. “We will achieve this goal with KYC, artificial intelligence-supported infrastructure and innovation-oriented products,” said Wad, emphasizing that Binance complies with 30 different regulatory frameworks in 20 countries.

“Crypto Projects Should Be Built with the Community”

1kx Partner Diana Biggs stated that crypto needs to adapt to changing regulations and the bear market reveals the true value of projects. “Building with the community is very important,” said Biggs, emphasizing that projects should be developed based on community collaboration.