Investopia Conference 2023 Underlines the Global Paradigm Shifts Driven by Fintech Revolution
Abu Dhabi – Gulf Tech :
Bringing UAE’s role in Fintech innovation, the use of Stablecoins, and the potential for blockchain technology to revolutionize financial infrastructure, industry leaders of digital finance from around the world came together in a session titled “Fintech Revolution” at Investopia Conference 2023.
The discussion was led by H.E. Sameh Al Qubaisi, Board Member of Wio Bank, Eric Anziani, President & COO of Crypto.com, Chika Uwazie, Co-Founder of Afropolitan DAO and Jamie Thomson, CEO of Vulcan Forged.
The United Arab Emirates has long been a leader in Fintech, spearheading the Ghadan21 program to revolutionize banking years before the Subprime Mortgage Crisis. H.E Sameh Al Qubaisi, Board Member of Wio Bank expressed that Abu Dhabi Global Market’s (ADGM) created its own sandbox of approved technologies in 2017. This only furthered the drive towards innovation within the financial sector. Today – where digital transformation and customer-centric solutions for SMEs were accelerated by pandemic developments– where Wio Bank proudly acts as an example after five successful years in operation with plans to expand further into wholesale banking, including tokenization of real estate.
Eric Anziani stated that the UAE is fertile for cryptocurrency and blockchain, and its willingness to build a global footprint in this realm is commendable. He also emphasized the need for right regulation, government support, and a fit-for-purpose environment which are essential for companies like Crypto.com to thrive. Commenting on hyperinflation, Anziani noted that Stablecoins and bitcoins play a crucial role in keeping value. He also stated that the opportunities in the cryptocurrency industry are vast and that Stablecoins are widely used for settlement. Lastly, he emphasized the importance of collaboration and interchain protocols in the cryptocurrency industry for growth.
Chika Uwazie highlighted that their organization is building the first digital nation on blockchain technology. They are focusing on the diaspora community in Africa to safely send assets using blockchain technology and Stablecoins. Speaking of technology enabling a strong financial infrastructure in Africa, micropayments and Fintech tools can be used in Africa to unlock governance and pool funds for investment. Tokenization, including NFTs and real estate, has potential in Africa, and crypto enables more people to invest in different areas.
Jamie Thompson discussed the evolution of Fintech and Blockchain in gaming, particularly in the emergence of NFTs, play-to-earn blockchain adoptions, and the Metaverse. He highlighted the potential for Blockchain to provide ownership of assets in the digital world and the benefits of immutability and transparency in gaming. He noted that there may be a hybrid model between traditional and decentralized gaming, but the potential lies in the future of ownership of digital assets in the gaming industry.
Investopia conference 2023 focuses on the theme “Envisioning Opportunities in Times of Change” and three sub-themes: Envisioning Opportunities in Today’s Economy, The Future of the Wealth of Nations, and Growth Opportunities in Times of Decarbonization. The conference this year includes 35 sessions and roundtables, and brings together more than 2000 participants like investors, government officials, thought leaders and entrepreneurs, from more than 40 countries.
