UAE minister of economy: Crypto & tokenization “key” to doubling GDP

UAE minister of economy: Crypto & tokenization “key” to doubling GDP

A government-run token exchange could be on the horizon for the United Arab Emirates At a panel for the World Economic Forum’s Global Technology Governance Summit today, United Arab Emirates minister of economy Abdulla Bin Touq Al Marri said that cryptocurrency and asset tokenization will be key to the country’s plans to double its economy — currently estimated to be the 34th largest in the world — in ten years. Al Marri was joined on the panel, titled the “Arrival of the token economy, from art to real estate,” by artist Harry Yeff and WEF executive Sheila Warren. While much of the....


Related News

Why DeFi plus asset tokenization will take crypto to new heights

Blending real-world assets and DeFi is going to shake this whole market to its core. In previous years, we have seen numerous attempts to bring real-world assets to the crypto market. However, none of them has proven to be massively adopted among retail crypto users and traditional financial players.So, why hasn’t real-world asset tokenization become a massive trend?You’ve probably heard how almost anything can be tokenized — securities, art, real estate, to name a few. And there were so many projects that promised to change the way we invest in assets, no matter the type. At the same....

Indian Government Open to Exploring Cryptocurrencies — Finance Minister Offer...

The Indian finance minister has finally revealed clues about what is in the cryptocurrency bill that is due to be introduced in parliament. Mentioning no crypto ban, she said that the government will take “a very calibrated” approach to cryptocurrencies. Indian Finance Minister Provides Clues on Upcoming Crypto Regulation Indian Finance Minister Nirmala Sitharaman shed some light on the upcoming crypto regulation in her country during CNBC-TV18’s IBLA townhall Friday. This is the first time she talked about the content of the bill and the Indian government’s plans....

How NFTs, DeFi and Web 3.0 are intertwined

Explosive growth in asset tokenization and NFTs is fueling Web 3.0 growth, and testing DeFi resolve. While blockchain itself provides the technology constructs to facilitate exchange, ownership and trust in the network, it is in the digitization of value elements where asset tokenization is essential. Tokenization is the process of converting the assets and rights to a property into a digital representation, or token, on a blockchain network. Distinguishing between cryptocurrency and tokenized assets is important in understanding exchange vehicles, valuation models and fungibility across....

Spanish Ministry of Economy Proposes to Create a Financial Customer Ombudsman...

Crypto regulation in Spain remains on the political talks amid the current bull-run seen in the bitcoin prices. Now, the country’s Ministry of the Economy is about to create a new Financial Customer Ombudsman for crypto-related matters. Independent Financial Customer Body Will Abide by the MiCA Ruling Per La Información, Minister Nadia Calviño seeks to extend its guardianship to the financial body to cover topics such as protecting consumers in cryptocurrency services. To make it a reality, the minister will submit the initial proposal to a public consultancy “as....

Money20/20: MasterCard to Launch Tokenization Initiatives

On Tuesday afternoon at the Money 20/20 conference in Copenhagen, a panel of industry leaders discussed the ongoing trends towards the tokenization of financial data and their respective involvements in these endeavors. Tokenization is growing in popularity among payment processors and their clients alike, and there are a number of overlapping ideas with how the Blockchain obfuscates sensitive information while still making information accessible for applicable parties or use cases. MasterCard in particular wants to capitalize on this trend, stating that they would be integrating tokens....