London Daily

Focus on the big picture.
Monday, Oct 20, 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
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
Windows’ Own ‘Siri’ Has Arrived: You Can Now Talk to Your Computer
Thailand and Singapore Investigate Cambodian-Based Prince Group as U.S. and U.K. Sanctions Unfold
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Chinese Tech Giants Halt Stablecoin Launches After Beijing’s Regulatory Intervention
Manhattan Jury Holds BNP Paribas Liable for Enabling Sudanese Government Abuses
Trump Orders Immediate Release of Former Congressman George Santos After Commuting Prison Sentence
S&P Downgrades France’s Credit Rating, Citing Soaring Debt and Political Instability
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
Diane Keaton’s Cause of Death Revealed as Pneumonia, Family Confirms
Former Lostprophets Frontman Ian Watkins Stabbed to Death in British Prison
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Outsider, Heroine, Trailblazer: Diane Keaton Was Always a Little Strange — and Forever One of a Kind
Dramatic Development in the Death of 'Mango' Founder: Billionaire's Son Suspected of Murder
Two Years of Darkness: The Harrowing Testimonies of Israeli Hostages Emerging From Gaza Captivity
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
HSBC Confronts Strategic Crossroads as NAB Seeks Only Retail Arm in Australia Exit
U.S. Chamber Sues Trump Over $100,000 H-1B Visa Fee
Shenzhen Expo Spotlights China’s Quantum Step in Semiconductor Self-Reliance
China Accelerates to the Forefront in Global Nuclear Fusion Race
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
Australia’s Wedgetail Spies Aid NATO Response as Russian MiGs Breach Estonian Airspace
McGowan Urges Chalmers to Cut Spending Over Tax Hike to Close $20 Billion Budget Gap
Victoria Orders Review of Transgender Prison Placement Amid Safety Concerns for Female Inmates
U.S. Treasury Mobilises New $20 Billion Debt Facility to Stabilise Argentina
French Business Leaders Decry Budget as Macron’s Pro-Enterprise Promise Undermined
Trump Claims Modi Pledged India Would End Russian Oil Imports Amid U.S. Tariff Pressure
Surging AI Startup Valuations Fuel Bubble Concerns Among Top Investors
Australian Punter Archie Wilson Tears Up During Nebraska Press Conference, Sparking Conversation on Male Vulnerability
Australia Confirms U.S. Access to Upgraded Submarine Shipyard Under AUKUS Deal
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
Brands Confront New Dilemma as Extremists Adopt Fashion Labels
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Erika Kirk Delivers Moving Tribute at White House as Trump Awards Charlie Presidential Medal of Freedom
British Food Influencer ‘Big John’ Detained in Australia After Visa Dispute
ScamBodia: The Chinese Fraud Empire Shielded by Cambodia’s Ruling Elite
French PM Suspends Macron’s Pension Reform Until After 2027 in Bid to Stabilize Government
Orange, Bouygues and Free Make €17 Billion Bid for Drahi’s Altice France Telecom Assets
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
Bessent Accuses China of Dragging Down Global Economy Amid New Trade Curbs
U.S. Revokes Visas of Foreign Nationals Who ‘Celebrated’ Charlie Kirk’s Assassination
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
DJI Loses Appeal to Remove Pentagon’s ‘Chinese Military Company’ Label
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Australian Prime Minister’s Private Number Exposed Through AI Contact Scraper
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
×