Binance Blockchain Week 2022: Day 3 Highlights
Binance Blockchain Week 2022 is over! Check out today's speakers from regulatory and other fields as they share their thoughts on crypto investing & trading.
Key Highlights at a Glance
How will blockchain change the future of investing?
“A lot of the world’s smartest people are migrating to this (space).” – Magnus Grimeland, Founder and CEO of Antler
What will it take for institutional investors to move to the new financial era? The answer is exposure.
The exposure is two-fold – exposure to knowledge, and the ecosystem.
Despite the progress made in the crypto investing arena, some financial institutions still find it hard to gather enough information to make the leap. The space is intricate and complex, and with that comes different risk factors that large Web2 companies need to assess. But not all hope is lost. With some time, and the willingness of the experts of both traditional and crypto fields, to collaborate, the massive knowledge gap can be bridged.
As for the ecosystem, it seems that the barrier to entry is impeding the big move. In particular, the on-ramp facilities in place can be cumbersome at best, and alienating at worst.
And as Romit Mehta, Investor at Lightspeed India Partners, said: “The job of a good VC fund is to follow the opportunity.”
Fail to follow the opportunity at, well, light speed, and large companies might risk losing first-mover advantage, and with it, the influence they have over the masses. After all, moving into the new financial era can establish institutional-grade standards would not be a problem for smaller, quicker companies with the right tech and community.
The investing space has gone from seeing only crypto natives in the early days, to the current mix of crypto-curious and crypto-savvy. And as institutional investors start taking note of the retail trend, it would only be a matter of time before crypto products need to be included in the portfolios of institutional investors.
Future trends and features for retail crypto investors
The beauty of crypto is this – We are in a unique position where users, builders, and regulators can collectively come together to decide what investing landscape we hope to see. Stablecoins quickly emerged to address traders’ demands for a stable environment amidst crypto’s volatile markets. Different consensus mechanisms work towards a unified crypto future. Many digital asset service providers now enforce KYC to protect investors and stay compliant.
And innovation in the space will never stop.
As the space welcomes the influx of retail crypto investors, we will see features that push for more consumer protection beyond basic KYC protocol. It may come in the form of hack-safe platforms, free resources to educate greenhorn investors on how to do their due diligence in the crypto landscape, or even regulations that support the growth of niche crypto industries.
As Jerry Tang, CEO of VCV Digital Group, said, ‘A new reality is emerging because of the pandemic’. And if it has affected the world, it’s likely that the crypto space will also be reshaped accordingly. In a time where physical meets virtual, crypto elements that bridge the two worlds, like NFTs and the Metaverse, will continue to grow and find their place.
Of course, regardless of future trends, there are tried and true methods of investing retail investors should know. Madeh Badaoui, VP of Engineering at BitOasis, shared his four principles of safe investing with the audience.
You must understand how much you are willing to lose.
This is a long-term haul.
Don’t fall prey to FOMO or FUD.
See opportunities for re-entry and rebalancing.
Keynote Speech:
“Crypto investment isn't just about holding Bitcoin – It's also about investing in the infrastructure, people, and technology that change people's lives.” – Khalifa AlJaziri, Commercial Affairs Regulatory Sector Projects Advisor, Ministry of Economy, United Arab Emirates
A trifecta of legislative, community and financial support is integral in creating change on a global stage. Dubai, as well as the rest of UAE, has been a welcoming environment for organizations like Binance for just that.
This was one of the leading reasons why Binance chose to host our annual Binance Blockchain Week at the Dubai World Trade Centre, the heart of the rising crypto zone.
In line with Binance’s goal of educating and empowering the masses, Dubai has been a fertile ground for collaborative learning to take place. The Mohammed bin Rashid Al Maktoum Innovation Fund provides 2 billion AED of financial support for start-ups in the space. Dubai’s Global Blockchain Council assembles 46 members to form a unified leadership that represents Dubai. And Dubai Blockchain Center has organized use case focused events and demonstrations.
What’s next for Dubai? Well, as Khalifa AlJaziri, Commercial Affairs Regulatory Sector Projects Advisor, Ministry of Economy, United Arab Emirates said: “[I]nnovation in the blockchain, crypto, and FinTech space is at the heart of Dubai's digital economy.” The exclusive memorandum of understanding with the Dubai World Trade Center last year leading to tremendous progress in the form of a license for Binance is sure to be one out of many experienced businesses in the space.
Closing Keynote: CZ, Binance CEO
“This event is really just about education.” – Changpeng Zhao, Binance CEO
36 hours. 2,500 guests. 1.4 million views.
We are so honored to have received all the distinguished speakers and guests that flew and tuned in to this event to make this possible.
Echoing the sentiment of the distinguished leaders in Dubai, CZ said: “I want to stress the importance of Dubai in the blockchain world.”
The inaugural event is meant to be a destination and a celebration of our progress as a unified global community. And over the past three days of riveting conversations with our attendees, the community has had a lot of time to reflect and rejoice with the millions of people taking part in the same conversation in all corners of the world.
And with that, Binance Blockchain Week 2022 has officially come to a close.
Inside the Exclusive Super Meetup Dubai 2022
Ever wanted to hold a conversation with CZ?
Well, some lucky event-goers had the chance to have their questions answered during the Q&A session with him.
Held right after the official closing of Binance Blockchain Week 2022, the Super Meetup Dubai held sharing sessions that included our co-founders of Binance, Jin Choo from CoinMarketCap, and two of our lovely Binance Angels. Guests also got to mingle and make meaningful connections and memories with others during the four-hour-long event.
What’s Next?
Blockchain Binance Week 2022 has allowed us to meet the international crypto community, create unforgettable experiences and drive meaningful conversations in the rising crypto zone of Dubai.
We would like to thank all our guests for taking the time to join us for our annual blockchain event, virtually and in person, and for making this conference happen.