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WBS Dubai – BitcoinWorld

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Date and Day: The 26th global edition of the World Blockchain Summit, held in Dubai, recently concluded as a resounding success leaving the attendees with enthusiasm and excitement for the future of blockchain in the Middle East and North Africa (MENA) region. Held at the Address Dubai Marina on 1st and 2nd November 2023, the two-day event saw top industry experts, blockchain innovators, government stakeholders and investors come together and collectively highlight the practical application of next-gen blockchain solutions.

With over 1500+ C-suite attendees, the event featured insightful discussions, engaging keynote speeches, and thought-provoking ideas, all aimed at accelerating the adoption of transformative solutions and optimizing global industries.

Trescon’s CEO, Naveen Bharadwaj commenced the event with a warm welcome address. The event featured thought-provoking discussions, keynote speeches, insightful keynote speeches that further delved into the current challenges and solutions from the blockchain space.

One such session that generated a lot of attention was the keynote address by Charles Hoskinson, CEO & Founder, Input Output Global, talking about Cardano’s evolution, marked by the introduction of smart contracts during the Shelley era and eloquently explored the interconnected themes of trust, decentralization, participatory governance, and digital assets underscoring their transformative influence on digital infrastructure.

Another key session was the panel discussion on ‘CBDCs and Cross-Border Payments: A Deep Dive into Technical Aspects and Opportunities’. Moderated by Cal Evans, award winning digital asset lawyer, Gresham International, examined the role of blockchain technology and distributed ledger systems in facilitating efficient and secure cross-border transactions using CBDCs. The panelists, Tone Vays, Analyst, Trader and Founder, The Financial Summit; Kevin Soltani, CEO & Founder, GIMA Group; Matthias Mende, Founder, Bonuz, shared their valuable insights about the technical infrastructure required to support CBDC-based cross-border payments, including the role of central banks, commercial banks, payment service providers, and blockchain networks.

One standout moment during the two-day event was the announcement on the significant investment from Cypher Capital and Master Ventures in Common Wealth. This community-driven platform is reshaping early-stage investing, fostering inclusivity, and creating a more equitable financial system. This investment underscores the growing commitment towards a level playing field for early-stage investors, propelling innovation and opportunity for all.

Sharing their experience at the event, Hasnae Taleb, CIO at Ento Capital said, “Happy to be part of WBS not just as an investor with $4.7Bn AUM but as a woman in the world of finance and the land of opportunities, Dubai.”

The accolades did not just stop here. Sharing his experience at the event Frederik Gregaard, CEO at Cardano Foundation, remarked, “It was incredibly vibrant and diverse; I would definitely come again.”

Alan Tominey, Director of Technology and Product at Gorki Network, praised the event, stating, “It was a high-quality delegate summit; we connected with numerous investors and generated valuable leads.”

Sharing a common vision and passion for blockchain innovation, WBS hosted the regional finale of the Startup World Cup by Pegasus Tech Ventures. With many ingenious innovators showcasing how their vision is transforming the global digital landscape. AYDO, a Decentralized Physical Infrastructure platform (DePIN) that bridges the gap between Web2 and Web3, won the regional finals showcasing the boundless potential of blockchain innovations.

Following the remarkable success of the World Blockchain Summit in Dubai, we extend our gratitude to all of our sponsors and partners including our Lead Sponsor, Unicoin; After Party Sponsor, Legacy Network; Platinum Sponsor, Zeebu; Gold Sponsor, OzoneSpace; Silver Sponsors, Qlindo, COREDAO, Sui Foundation, and Highrise Studios; Bronze Sponsors, INNES Worldwide, Sastanaqqam, yard[hub], Mimo Labs, Minati, M2; Pitch Partners, CryptoUnity, Umma Life, Gorki, Web3 Geeks, MintStarGram.tech, iTeller; Exhibitors, WeList, Dubi Dabi, bitcastle, ROVI Network, LBM Solutions, Cobox Metaverse; National Media Partner, Dubai TV; Business Broadcast Partner: CNBC Arabia Official Newspaper Partner, The Fintech Times, and other media and association partners. Their unwavering support reinforces our commitment to promoting global blockchain innovation and fostering collaboration. Their support further reinforces our commitment to fostering global blockchain innovation and collaboration.

As we call the curtains on the 26th edition of the World Blockchain Summit, we look forward with great anticipation what the next edition of the Summit has in store for us. Taking the conversation about the transformative next-gen solutions further, Trescon is proud to announce the inaugural edition of the Digital Acceleration and Transformation Expo at Delhi on 23rd-24th November 2023. Additionally, get ready to unlock the future of blockchain technology at the World Blockchain Summit in Bangkok this December.

To know more, visit: worldblockchainsummit.com

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: www.tresconglobal.com.

For further details, please contact: 

Shadi Dawi

Director, Public Relations & Partnerships – MENA

[email protected]

+971 55 498 4989

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Cryptocurrency

Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation

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In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

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Cryptocurrency: A Scapegoat for Foreign Policy Failures?

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Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

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Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution

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Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

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