Binance entered the final stop of the annual community event Binance Blockchain Week on Wednesday. The theme of this year’s event is “Momentum,” and the crypto exchange aims to acknowledge the continued growth of the Web3 sector over the past year, despite regulatory, legal and technical challenges around the world. Senior Binance leadership, including CEO Richard Teng and co-founder Ye Hi, participated in the event, interacting with the crowd at the exchange’s claim to be Dubai’s Coca-Cola Arena.
Dubai Future Foundation CEO Khalfan Belhoul joined Teng on Wednesday to talk about a range of topics including crypto space, Stablecoins, regulatory advancements in Asset Tokenisation and potential use cases for blockchain and Web3 technologies department.
Several panel discussions have been held on the day, which will focus on investment dynamics related to cryptocurrencies, unique market conditions, and the growing interest of venture capital firms in exploring early-stage crypto startups and projects.
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Against the backdrop of this event, Binance announced the launch of “Binance Wealth,” a new service that meets the special needs of high net worth individuals (HNIS). Additionally, the exchange has appointed Jeff Li as the new vice president of the product. Lee’s mission is to oversee the expansion of the Binance product suite in the coming months. Prior to joining Binance, Li served as Tiktok’s global financial director.
Web3 players including Web3 players include Pepe Coin, Iota, Solana and Ton Foundation, etc., and set up stalls at the Coca-Cola Arena to communicate with Web3 enthusiasts who flew from all over the world to Dubai.
Over the next two days, crypto industry stakeholders will dig deeper into the challenges and opportunities the industry is currently facing. Part of the panels of the event are also expected to touch on the theme of the predictive transition of Web2 technology to Web3, the integration of artificial intelligence (AI) into Web3, and the elements of future virtual digital assets (VDA) for Crypto institutional investors.
The blockchain trends that have emerged in recent years require an upgrade to existing Web3 infrastructure and the growing importance of compliance requirements for Web3, and these topics will be addressed by the group members.
The afternoon meeting delved into the challenges and opportunities in the cryptocurrency sector. Topics include Web2 companies’ reluctance to adopt Web3 technology, the health of the institutional market, and the potential for generating AI in Web3.
Elliptic founder Tom Robinson, Sandbox co-founder Sébastien Borget and Polygon Labs’ Sandeep Nailwal set up the discussion to improve the end user experience of the Web3 protocol as part of its planned sessions.
Last year, Binance held its annual blockchain conference in Istanbul, Turkey.
