GLOBAL BLOCKCHAIN AND CRYPTO ECOSYSTEM GATHER IN DUBAI ON OPENING DAY OF FUTURE BLOCKCHAIN SUMMIT

Future Blockchain Summit 2023 kicked off at Dubai Harbour today, welcoming members from across the global blockchain and crypto ecosystem to the Emirate.

Reaffirming the Dubai’s position as a leading epicentre for the growth of blockchain and crypto, the sixth edition of the premier global blockchain exhibition welcomed more than 150 exhibitors, regulatory authorities and governments from over 50 countries.

With an action-packed agenda bringing together the world’s most influential minds, the Exchange Stage featured a series of sessions on the theme for day one – Entertainment in Web3. Ahmed Bin Sulayem, Chairman of Dubai Multi Commodities Centre, did a keynote address on ‘Attracting Global Gaming and WEB 3 Talent to Dubai’. He said: “This event plays a pivotal role in supporting innovation and fostering the global adoption of transformative technologies… Dubai has become a global hub for web3 technologies and more for several reasons… The unwavering commitment that the UAE leadership has led towards the development and application of blockchain with strategies making waves across the public and private sectors. This has firmly set the tone for businesses, fostering an environment that encourages innovation. Moreover, UAE regulators including VARA have established forward thinking policy that facilitates the success of crypto firms by putting them in the balance of freedom and regulatory confidence to operate… Nowhere else in the world can crypto and blockchain businesses receive more support than in Dubai.”

Meanwhile the increasing potential of Web3 technologies in the gaming industry was a key focus in the Web3 Arena. Pavel Kasperovich, Principal at Boston Consulting Group, John Lacey, Country Manager – Level Infinite MENA at Tencent Games Global, and Sultan Al Riyami, entered the Web3 Arena for a panel ‘Gaming in GCC:  Who Becomes the Global Gaming Hub?’, moderated by  Paul Dawalibi, Host, CNBC Arabia’s Game Changers. John Lacey emphasised Abu Dhabi’s distinctive strategy, stating, “Abu Dhabi takes a unique approach by putting its arm around people, nurturing talent in eSports and start-ups alike. Over the years, its successfully created an environment for developers, fostering growth and connections. It’s not just about financial investment, it’s about creating a space where talent can flourish, a model that has proven successful in Abu Dhabi’s gaming industry.”

Pavel underscored the role of government support in the gaming sector, commenting: “In the gaming industry, government intervention is pivotal. It goes beyond just financial aid, it involves simplifying processes like visa acquisition, establishing tax incentives, and providing the necessary infrastructure. This support facilitates the entry and growth of gaming companies, making it easier for them to set up operations. The government’s role is not just about injecting money, it’s about creating an ecosystem that encourages and sustains the gaming industry’s development.”

Day one at the Future Blockchain Summit also highlighted the power of artificial intelligence (AI) and how it can create limitless opportunities in the Web3 world. Emil Jimenez, the founder and CEO of MindBank Ai, a pioneer in generative AI-driven personal digital twins, hosted a pacesetter talk ‘Welcome to a Web3 World of AI Enhanced Humanity’, to explore the future of AI, the impact of digital twins, and showcase MindBank Ai’s progress through a ground-breaking interview with his own digital twin. He stated: “Digital twins are the foundation for an AI enhanced humanity.”

A workshop ‘Stories from Songs Past and Present’ also explored how AI has transformed the music industry and the creative process with global sensations Fernando Garibay, Founder & CEO/Music Producer at the Garibay Institute, and OG Arabian Prince, Founding Member of N.W.A and Co-Producer of Straight Outta Compton.

OG Arabian Prince said: “One of the key things with AI is that AI doesn’t know what you want unless you know what to tell it. And if you don’t know what to tell it, how does it calculate what’s in your mind? You have to give AI the experiences, the things that you that you feel, your sound, your style, all of these things, and then AI can maybe give you a suggestion. It can maybe give you a starting point of where you need to go. I think that the people who are scared of AI taking your job really don’t have to be scared as of yet, because a person who uses AI as a tool still has to know how to use that tool. Give everybody a hammer. Right? But only certain people can use that hammer as skilfully to hammer a nail… With AI, you still have to be skilful and you still have to know how to use that tool. So I think we are still is moving fast, but we’re still five or ten years away from serious, serious AI being able to change our daily life.”

Days two, three and four of the event, from 16 to 18 October, will continue to gather global disrupters, change-marker and innovators to showcase the significant progress made in Web3, blockchain and crypto technologies and drive transformative change for the future.