There were many networking opportunities available at the World Blockchain Summit Dubai for blockchain lovers and professionals. It was informative and offered opportunities for people with similar interests to network. CoinQuora met many leading figures in blockchain, including Mr. Omar Rahim of Binance, MENA Director. It was a great conversation between Mr. Rahim (MENA Director of Binance) and I, and it is something we want to share with CoinQuora readers.

Q. Q.

I’ve really enjoyed the conference over the last two days. It’s been great meeting projects from all over the world converging here in Dubai. For me, the most important thing is the level of quality. They have provided excellent projects and have given interesting talks. So I’ve learned a lot over the last couple of days.

Q. Q.

So naturally, you’d expect me to say any project built on Binance Smart Chain (BSC). Of course, we’re big supporters, but no, we encourage the ecosystem to grow as a whole, so whether they’re built on Binance Smart Chain or have an interface with Binance or not, I think there’s been some really interesting infrastructure plays that we’re looking to see. One of the things we’re looking to encourage as much as possible is projects that are based out of the Middle East. So, we’d love to see more MENA projects promote them in the crypto space.

Q. Q.

Yes, we’ve been operating in the region for quite some time already now and we’ve noticed how the UAE is becoming more and more crypto-friendly. What we are trying to accomplish is to collaborate with regional regulators and build a large, compliant region. So, we’re in Dubai now to have some bilateral meetings because we think the UAE and Dubai in particular are going to be a really important hub for the industry going forward.

Q. Q. Do you have thoughts or questions about NFTs and DeFi?

Yes. So, DeFi and NFTs I don’t think have really scratched the surface. We’re really excited about DeFi and as you know, we have our own NFT platform that we launched just this year. I think we’re still in that experimental phase in both the DeFi and NFT industries. We’re really looking forward to seeing these industries mature and grow because we think there is a huge number of practical applications of NFTs, far beyond digital art that we’re just scratching the surface on. We are very open to collaboration with any person in either space.

DeFi, to me is one area that has been disrupting and disrupting financial industry. However, the traditional financial industry hasn’t really grasped the full potential of DeFi. We believe that the decentralized nature these protocols will force banks to change their business models. This is something that we’re really excited about.

Q. Q.

Yes, absolutely. Regulation is going to be a huge factor in the growth of this space, either 10x or 100x. Crypto adoption in the world is currently at around 2%. What we’re really interested in doing for everyone in the industry is to make space accessible to the other 98% of the market, who perhaps, at the moment, feel a little nervous about the industry and they need that regulated environment. To make sure that the industry is fully regulated, we want to collaborate with all the regulators around the globe. We need to remember that the entire industry will grow if it is regulated globally, and this should be our main focus here in UAE as well.

Q. Q. Do you have any last thoughts?

I’m really pleased to be here in Dubai. We’ve met so many projects from across the world that are converging here in Dubai. We’d love to see some local homegrown projects within the MENA region. I would like to see more projects in the area. We’re looking to support those and other businesses with the recent release of our $1 billion fund, that we just launched on BSC. Please visit our website to learn more about our fund.

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