FUTURE OF ECOSYSTEM & ENTERPRISE WITH WEB3 ASSETS

World Blockchain Summit Dubai was held on 22 23 April 2024, the event was organized by Trescon, World’s longest running blockchain summit series and one of the world’s fastest-growing organizers of emerging tech B2B events.
The purpose of the event acted as a platform for collaboration, a growth accelerator, and an adoption Launchpad for the ecosystem. This conference has been a leading venue for the blockchain sector since its founding in 2017 and has helped to link established leaders with up-and-coming entrepreneurs. Imagine networking with Web3 pioneers, real-world blockchain success stories, and state-of-the-art tech displays.

The World Blockchain Summit exceeded expectations, attracting over 2000 C-Suite executives, 300+ investors, 100+ sponsors, and 50+ speakers. The event provided a vibrant environment for learning, networking, and innovation. The Summit, which featured extensive conversations and smart keynotes, focused on increasing blockchain use in critical areas like as banking and the food industry, among others.

The event also held the Dubai regionals of Pegasus Tech Ventures’ Startup World Cup, which provided a platform for businesses to pitch their concepts to worldwide investors. Among the contenders, Pentagon Games emerged triumphant, leading the constantly developing gaming business by integrating XR Metaverse for creative content distribution and using Web3 and AI to power their GameFi activities.

WBS launched Startup Grand Slam, a fund-raising platform for startups (including ICOs) and existing businesses looking to expand. Companies can pitch worldwide investors, including venture capitalists, angel investors, and senior government officials. They also gain immediate access to Trescon’s Investor Connect service. Companies have the opportunity to win the regional cup at the Startup World Cup and go to San Francisco to fight against 30 other contenders for US$1 million.

The Startup World Cup established a standard for gathering the world’s greatest brains. We hope you will join us in addressing the world’s most pressing issues with innovative solutions that advance ecosystems.

Impressive keynote addresses, use-case presentations from well-known blockchain visionaries and experts, and lively panel discussions on important subjects influencing the web3 environment were held at #WBSDubai April 2024. The event covered a number of topics, such as the 2024 Blockchain Ecosystem Market Analysis, the Rise of AI-Blockchain Integration, Decrypting the Regulatory Landscape of Virtual Assets, and Emerging Trends in Enterprise Blockchain Adoption.

Sharath Kumar, Business Director, Trescon, expressed his enthusiasm about assembling global blockchain pioneers and innovators in Dubai, noting, “The Summit showcased Dubai’s strategic emergence as a global hub for cryptocurrency, accentuating its significant role within the regional and worldwide innovation ecosystems that drive blockchain adoption forward.”

The welcome address was by Naveen Bhardhwaj – World Blockchain Summit. He revealed some interesting statistics about the blockchain industry, such as its projected market size by 2027 and 2030. He then spoke about the increasing adoption of blockchain technology by various industries, such as banking, healthcare, and retail. He also mentioned the emergence of decentralized finance (DeFi) and the role of cryptocurrencies in the modern economy.

He highlighted the importance of Dubai as a blockchain hub and the supportive regulatory environment in the UAE. He also provided an overview of the World Blockchain Summit, including the number of participants, speakers, and investors. The event featured a pitch competition for startups and focuses on real-world blockchain use cases. He also mentioned other upcoming events organized by Trescon, the company behind the World Blockchain Summit, such as the Dubai Fintech Summit and the Dubai AI and Web3 Festival.

He gave a comprehensive overview of the blockchain industry, the World Blockchain Summit, and the future of digital economies and highlighted the importance of collaboration and innovation in driving the adoption of blockchain technology.

The Keynote speech by Elio D’Anna Co-Founder & CEO KREATION Technologies at the World Blockchain Summit, he spoke about his company KREATION Technologies and their project called emotion.

Here are some key points :

Mr. D’Anna is the co-founder of hofa, a leading gallery representing over 85 artists worldwide. HOFA was the first gallery to accept cryptocurrencies and to tokenize real-world assets.

The new project called Emotion, is being developed by the founder of a gallery called HOFA Gallery. The project aims to create a deeper connection with users by offering personalized curated and rewarding digital art experiences and also well-being experiences while powering its own IoT focused node network.

Elio talked about the company’s history and how they were the first gallery to accept cryptocurrencies and how they started tokenizing art via NFTs. They also mention that they sold the largest NFT collection of the last three years and that they are working on a new project called Emotion. Emotion is a platform that is AI-driven and that is able to drive content and is trained by a network of leading curators. The platform also has a strict program of royalties similar to Spotify.

Elio highlighted about the device that they are developing, the device is AI-powered and is designed to be used in homes and businesses. It can be used to stream content, reward users, and monitor user habits and behaviors. He also talked about the company’s plans for the future, which include launching the Emotion token and making the device available to the public. He gave an overall good introduction to the Emotion project and the device. KREATION Technologies is a technology provider for the art world, offering solutions for tokenization, NFT platforms, and physical-digital art integration.

• The company recently launched an NFT platform for the Yawanawa community, raising over $4 million.
• The keynote focuses on a new project called emotion, described as a combination of step-in and Spotify for digital and physical art.
• Emotion is a device that creates a deeper connection with users through personalized and curated art experiences.
• The device uses AI to monitor user interactions and connect via web3 to stream content on various devices.
• Emotion aims to distribute royalties to both artists and viewers, creating a new economic model for the art world.
• The project is built on Ethereum with L2 and L3 layers for faster and cheaper transactions.
• KREATION Technologies has partnered with leading experts in AI, blockchain, IoT, and art to develop the emotion project.
• The company plans to launch a node sale for the emotion project and is working with renowned artists.

Overall, he gave a detailed overview of KREATION Technologies and their innovative project, emotion. It highlights the potential of blockchain and AI to revolutionize the art world and create new opportunities for artists and viewers alike.

The panel discussion – “The Investor’s Perspective of Digital Assets: Challenges and Promises of the Digital Age”, moderated by Juliet Su and the panellists were Richard Muirhead, Managing Partner, Fabric Ventures; Diana Biggs, Partner, 1kx; Amit Grover, General Partner and Managing Partner, Koinonos Capital and Grover & Company, shared their insights on how the digital asset landscape is evolving and examined the role of developing economies in embracing digital assets as a means for financial inclusion and economic growth.

The digital asset industry has come a long way in a short time, and the pace of evolution shows no signs of slowing down. From regulatory changes to technological advancements and the quest for mainstream adoption, there is much to unpack in this dynamic space.

According to the expert panelists, regulation is proving to be a crucial factor in shaping the industry, with businesses needing to stay on top of regulatory updates to maintain a competitive edge. However, the technology underpinning the digital asset sector is evolving at breakneck speed, with innovations such as zero-knowledge proofs and blockchain-based gaming poised to revolutionize the landscape.

Some key points include:

• The industry is evolving rapidly, with new use cases and technologies emerging all the time.
• Regulation is playing a key role in shaping the industry, and it is important for businesses to adapt to the changing regulatory landscape.
• Technology is a key driver of innovation in the digital asset space, with new developments such as zero-knowledge proofs and blockchain-based gaming having the potential to transform the industry.
• Mass adoption is still a challenge, but there are a number of factors that could contribute to it, such as the increasing maturity of the industry, the development of new use cases, and the growing acceptance of digital assets by mainstream investors.

The keynote speech by Rizwan Shaikh, Chief Technology officer of White Shark Blockchain Solutions DMCC, at the World Blockchain Summit. In this keynote speech, Mr. Shaikh talks about his experience in the cybersecurity industry and how blockchain can be used to improve security and user experience. Mr. Shaikh has over a decade of experience in the cybersecurity industry. He has worked on a variety of projects, including audits, assessments, and cybercrime investigations.

Here are some key points from the video:

• He believes that blockchain technology has the potential to make a significant impact on the cybersecurity industry.
• He is particularly interested in using blockchain to improve the security of data and to make it more difficult for hackers to access information.
• He also believes that blockchain can be used to make it easier for businesses to comply with regulations.
• He is working on a new platform that will allow businesses to easily create and manage their own blockchain-based applications.
• He believes that this platform will make it easier for businesses to adopt blockchain technology and to benefit from its advantages.
• It was a good overview of the potential of blockchain technology to improve cybersecurity. It is also a good resource for businesses that are interested in learning more about how to use blockchain technology.

In the panel discussion on “Enterprise Adoption: Opportunities, Challenges, and Emerging Trends in the Blockchain ecosystem”, moderated by Maha Al-Saadi, Head of Regulatory Affairs, QFC Financial Services Sector, the esteemed panelists, including George Gvazava, Chief Crypto Officer at Bank of Georgia; Maher Al Kaabi, Advisor to Chairman & Independent Board at Alserkal Group; Aditya Tallapragada, CEO at Medifakt; Wolfgang Grabher, Founder, CEO, and Chairman at SUN AG; and Kiruthik Raaj, Co-founder & Head of Engineering at Hedgeblock, deliberated on successful blockchain use-cases, explored the unique challenges and barriers in blockchain adoption and discussed educational initiatives to bridge the knowledge gap and drive mainstream blockchain adoption.

Here are some key points from the discussion:

• The banking industry is exploring the use of blockchain for crypto spot trading, tokenization, and loyalty programs. However, regulations are a major hurdle.
• The food industry is using blockchain to separate product from reward systems.
• The healthcare industry is using blockchain for supply chain management, clinical research, and electronic health records. Interoperability and data regulation are major challenges.
• The technology industry is working on developing scalable and interoperable blockchain solutions.
• The panelists believe that blockchain has a bright future and will be widely adopted across various industries in the next 10-15 years.

This panel provided valuable insights into the current state of enterprise blockchain adoption and the challenges and opportunities that lie ahead. It is a must-watch for anyone interested in learning more about this rapidly evolving technology.

Perianne Boring i- Founder and CEO of the Chamber of Digital Commerce offered a comprehensive overview of the digital asset landscape, tracing its evolution from inception to its projected mainstream adoption. Her insights provide valuable perspective for investors eyeing opportunities in this rapidly developing sector.

Bitcoin’s Genesis and Early Growth
Boring began by revisiting Bitcoin’s introduction in 2008-2009, highlighting its initial obscurity. The cryptocurrency’s first major breakthrough came in 2013 during the Cyprus financial crisis, where it emerged as an alternative monetary system, catching international attention.

The Ethereum Revolution
The launch of Ethereum in 2015 marked another milestone, introducing smart contracts and decentralized applications. This development significantly expanded the potential use cases for blockchain technology beyond simple monetary transactions.

Market Dynamics: Boom and Consolidation
The speaker noted the cryptocurrency market’s explosive growth in 2017, followed by a necessary consolidation phase in 2022. This pattern of rapid expansion and subsequent correction is typical of emerging technologies finding their footing.

2024: The Year of Mainstream Adoption?
Boring boldly predicts that 2024 will be the turning point for widespread cryptocurrency adoption. She attributes this to several key factors:

1. Technological superiority
2. Improved access points
3. Geopolitical events driving interest
4. Increased education and awareness

Bitcoin Adoption Metrics
To support her outlook, Boring presented data on Bitcoin adoption, including the growing number of wallet addresses and the increasing percentage of long-term holders. These metrics suggest a maturing market with a strong base of committed users.

Valuation Models
The speaker discussed various methods for assessing Bitcoin’s value, including historical trend line analysis and the stock-to-flow model. These approaches aim to provide a framework for understanding Bitcoin’s potential future price movements.

Challenges to Adoption
While optimistic about the future, Boring acknowledged several risks that could impede cryptocurrency’s path to mainstream acceptance:

1. Censorship attempts
2. Unfavorable policy and regulation
3. Political opposition

A Call to Action
Boring concluded her presentation by urging attendees to support the Digital Chamber’s efforts in advocating for the acceptance and utilization of digital assets and blockchain technologies.

As cryptocurrencies continue their march toward mainstream adoption, investors would do well to stay informed about this dynamic and potentially transformative asset class. While risks remain, the potential for significant returns and the technology’s capacity to reshape financial systems make it a sector worth watching closely in the coming years.

Overall, a comprehensive overview of the cryptocurrency industry, including its history, current state, and future prospects. It also highlighted the importance of education and advocacy in driving mainstream adoption of this technology.

Perianne Boring is a visionary leader in the blockchain industry and is the Founder and CEO of the Chamber of Digital Commerce, the premier trade association dedicated to representing and advancing blockchain technology. Under her leadership, the Chamber has played a pivotal role in shaping the blockchain landscape in the United States. 

The panel discussion on Blockchain Powered Virtual Realms Redefining Player Engagement and Monetization in Web 3 0 Gaming, with the discussion was on blockchain powered virtual realms and how they are redefining player engagement and monetization in web 3.0 gaming. The speakers discussed the latest trends in web 3.0 gaming, the opportunities for players to monetize their time gaming, and the main things that investors look out for in companies building these solutions.

Here are some key points discussed in the video:

• Web 3.0 gaming is a new generation of the internet that is focused on decentralization, empowering users, and immersion.
• Blockchain technology is being used to create new ways for players to monetize their time gaming, such as through play-to-earn models and the creation and sale of in-game assets.
• Investors are looking for companies that are building innovative and engaging games that can attract and retain players. They are also looking for companies that have a strong understanding of blockchain technology and how it can be used to create value for players.

Some specific examples of blockchain powered virtual realms mentioned in the video include:

The Sandbox, a virtual world where players can create, own, and monetize their own content.

Decentraland, a virtual world where players can buy and sell virtual land and other assets.

Axie Infinity, a play-to-earn game where players can earn cryptocurrency by breeding and battling virtual creatures.

Overall, the discussion provided a comprehensive overview of the potential of blockchain technology to revolutionize the gaming industry. It is clear that this is a rapidly evolving space, and there are many exciting opportunities for both players and investors.

Frederik Gregaard the CEO of Cardano Foundation provided some key points –

• Emphasized the importance of the Cardano community and its decentralized nature, stating that Cardano is not a company or a cryptocurrency, but rather a project with a vision to change the world.
• Discussed the challenges facing blockchain adoption and the need for collaboration between companies, governments, and individuals to bring about widespread adoption.
• Addressed the use cases for blockchain technology beyond just cryptocurrency, including potential applications in the areas of governance, healthcare, and education.
• Explained the unique benefits of Cardano’s Proof-of-Stake consensus mechanism, which enables more energy-efficient and scalable blockchain solutions.
• Stressed the importance of ensuring the security and privacy of blockchain-based systems, and highlighted the efforts of the Cardano Foundation to promote responsible innovation.

In the Fireside Chat – New Investment Paradigms: Uncovering Investors Outlook on Sustainable and Impact driven Ventures in the Digital Era,

Kyle Chassé – CEO Master Ventures chats with Paul Dawalibi – CEO Holodeck Ventures, Kyle defined impact investing as investing in projects that improve systems and make things more efficient for people. He believes that the true ethos of web3 is to build sustainable economic models. He is critical of the term “carbon credits” and believes that governments should not be allocating effort and dollars to blockchain investing because they would not know what to invest in.

He discussed the importance of decentralized AI protocols. Kyle believes that AI is the more real crazy thing that’s going to radically alter our lives either for the better or worse. He also believes that it is important to have a decentralized model for AI, with checks and balances.

Pentagon Games, a new gaming publisher powering XR Metaverse through Deep Learning and Web 3, was crowned the winner at the prestigious Pegasus Startup World Cup Competition held during the World Blockchain Summit in Dubai. This victory propels Pentagon Games to the global stage as they prepare to compete in the Grand Finale in San Francisco against more than 50 other top-tier startups from around the world.

Emma Liu, Co-Founder and CEO at Pentagon Games said: “We aim to revolutionize the gaming industry’s publishing and content distribution landscape. Our goal is to transform how gamers interact with their favorite titles by leveraging cutting-edge technologies such as Augmented Reality, Virtual Reality, Artificial Intelligence and Blockchain. We believe that gaming goes beyond just sitting in front of your computer, TV, or playing on your mobile device. The future of gaming will be filled with more immersive, interactive, and unforgettable digital experiences that captivate players on a whole new level. We are extremely excited about our upcoming opportunity to compete with some of the best startups from around the world.”

Followed by an excellent after party at 3BK, Armani.

GB Bajaj discussed with Perianne Boring on he future prospects of WEB3 in the Middle East and India.