London Daily

Focus on the big picture.
Monday, Sep 08, 2025

How Dubai is embracing Cryptocurrencies

How Dubai is embracing Cryptocurrencies

People around the world have heard of cryptocurrencies, but they are still poorly understood. Dubai plans to remedy that at the AIBC summit.
Cryptocurrencies and in particular Bitcoin have been making headlines worldwide, but there's still a lack of understanding about what they are. Dubai recently held the AIBC summit to bridge that knowledge gap.

Eman Pulis, Founder and CEO of sigma group & AIBC Summit, says although there are technical sessions at the event, they also want to reach those new to the industry:

"An issue of empowerment is key. If we want one day to see the crypto community, the blockchain, be embraced by the masses."

Put simply, cryptocurrencies are virtual, unlike a euro or dollar that we can hold physically. They aren't usually tied to a bank or government and allow users to spend money anonymously through a series of complex transactions using blockchain technology.

Worldwide some businesses take crypto as payments, but overall mainstream acceptance is still limited, something Dubai is keen to change. One of the first steps was the launch of the DMCC crypto centre.

Ahmad Hamza Executive Director of DMCC Freezone says the centre wants to provide an array of services for crypto and blockchain companies and platforms to help them not just set up, but also flourish and succeed.

“We do believe in blockchain, we do believe in crypto and we provide robust regulation working with the Securities and Commodities Authority.”

Events like the AIBC summit bring together key individuals and brands from AI to blockchain and the Internet of Things to discuss and shape the future of emerging tech. A key guest was the blockchain co-inventor, whose research Bitcoin was based on.

In 1991, long before bitcoin, Dr Scott Stornetta and Stuart Haber became the co-inventors of the early blockchain.

“We took all the data in the world broken up into blocks and by linking them together, it is a way of guaranteeing that no one can tamper with the record. That makes it all something everyone can trust”, Dr. Stornetta says.

Critics claim that cryptocurrencies are unstable and pose a risk for investors who aren't protected by regulators

Dr. Scott Stornetta admits that there is some skepticism like there was in the early days of the internet.

“There were many things that in fact were fake and scams. Yet over time, we developed a secure foundation that allows us to create much more value”, he adds.

The cryptocurrency market has also been susceptible to extreme volatility, with social media comments from public figures like Elon Musk raising questions about the market, which can potentially affect investors.

Brock Pierce, Chairman of Bitcoin Foundation & co-founder of Tether & Mastercoin, says he urges people to research and form their own opinion on cryptocurrencies.

“The best way is to figure out what this is all about so that you can make an informed decision for yourself. And then with that knowledge, you'll be able to make decisions as to whether or not if, you know, if you agree that this is, you know, going to be a big part of the future, clearly I have that view.”

While some banks, financial services companies and governments are embracing cryptocurrency, others are staying away. But for those investing, they see digital currencies and how they work as the future.
Newsletter

Related Articles

0:00
0:00
Close
Trump Threatens Retaliatory Tariffs After EU Imposes €2.95 Billion Fine on Google
Tesla Board Proposes Unprecedented One-Trillion-Dollar Performance Package for Elon Musk
US Justice Department Launches Criminal Mortgage-Fraud Probe into Federal Reserve Governor Lisa Cook
Escalating Drug Trafficking and Violence in Latin America: A Growing Crisis
US and Taiwanese Defence Officials Held Secret Talks in Alaska
Report: Secret SEAL Team 6 Mission in North Korea Ordered by Trump in 2019 Ended in Failure
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Florida Murder Case: The Adelson Family, the Killing of Dan Markel, and the Trial of Donna Adelson
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Big Tech Executives Laud Trump at White House Dinner, Unveil Massive U.S. Investments
Tether Expands into Gold Sector with Profit-Driven Diversification
‘Looks Like a Wig’: Online Users Express Concern Over Kate Middleton
Brand-New $1 Million Yacht Sinks Just Fifteen Minutes After Maiden Launch in Turkey
Here’s What the FBI Seized in John Bolton Raid — and the Legal Risks He Faces
Florida’s Vaccine Revolution: DeSantis Declares War on Mandates
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
"The Situation Has Never Been This Bad": The Fall of PepsiCo
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
The Fashion Designer Who Became an Italian Symbol: Giorgio Armani Has Died at 91
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Queen Camilla’s Teenage Courage: Fended Off Attempted Assault on London Train, New Biography Reveals
Scottish Brothers Set Record in Historic Pacific Row
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Court of Appeal Allows Asylum Seekers to Remain at Essex Hotel Amid Local Tax Boycott Threats
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
×