BBW 2024, themed "The driving force behind the blockchain industry overcoming challenges and aiming for the greatest achievements", attracted about 4,000 direct participants, bringing together leading figures in the fields of Web3, blockchain (blockchain technology), cryptocurrency and decentralized finance.
Lessons from Dubai's success
At BBW 2024, Khalfan Belhoul, CEO of Dubai Future Foundation (DFF), shared the secrets of how Dubai has emerged as one of the world's innovation hubs.
He said the government has taken a proactive approach in promoting new technologies such as blockchain and Web3. They have created a stable legal environment and addressed legal challenges.
With clear regulatory frameworks in place, both users and project developers can experiment with new trends with confidence, which is key to Dubai becoming an attractive destination for international blockchain businesses.
DFF CEO also particularly emphasized the role of pioneering companies in the blockchain field in complying with regulations to "set an example" for the entire industry.
He believes that cooperation and creative thinking to overcome the current chaos is the best way to promote blockchain breakthrough development.
The important role of government
Sharing the same opinion with Khalfan Belhoul, Binance co-founder Yi He believes that one of the important formulas to success is to always think positively and do the best you can to create a better world.
Yi He said that from the early days of Bitcoin, industry leaders like Binance have become part of the traditional financial world. She said that to do that, the company had to work hard to find a balance and comply with the legal regulations in every place Binance appeared.
The Binance CEO acknowledged that this transition is also a big challenge. According to her, collaboration is an important step to achieve widespread adoption. The decentralized community cannot deny the role of government.
“Binance has more than 240 million users globally, but if we want to serve a billion people, we have to cooperate with regulators. That is how we become the next Google, Amazon in the Web3 world,” Yi He said.
Binance's leadership vision is not only about the number of users, but also about the desire for new technologies like blockchain to be easily applied in life.
Experts say that for that future to become a reality, international cooperation is crucial to establishing uniform standards. While achieving this is complicated by the different legal frameworks in each country, proactive adaptation and regulatory adjustment are seen as necessary strategies to navigate this dynamic industry.
