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UAE: World Government Summit to bring global cryptocurrency players

Summit to discuss challenges and opportunities of the next 10 years

Published: Mon 7 Mar 2022, 5:54 PM

Updated: Mon 7 Mar 2022, 9:11 PM

World Government Summit, which will take place at Expo 2020 Dubai on March 29 and 30, will explore challenges and opportunities facing the governments as well as bring regulators and private cryptocurrency players together at one platform, said a senior official on Monday.

Omar Sultan Al Olama, UAE’s Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, said one of the main focuses of the summit is to look at what are the key challenges and opportunities that the public and private sector will face over the next decade.

“What makes this summit very unique is that it convenes private sector leaders in cryptocurrency space as well as government regulators in an open dialogue because the current gap that exists is that regulators are not talking with the actual (cryptocurrency) leaders working in the private space to see where the opportunities are. The only way to bridge the gap and to overcome challenges is to make use of the opportunities to ensure we have an open dialogue and see where the common ground exists between the two players and how to put first regulations and the first step to move forward,” Al Olama told Khaleej Times in an interview on the sidelines a press conference held to announce agenda of the upcoming World Government Summit.

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He said the Summit will look at the challenges and opportunities that the government, as well as the key sectors, would face over the next 10 years and how they should be dealt with.

The two-day summit will also discuss the Covid-19 and how to overcome the next pandemic, as well as what the world should do for the safety and security of the people throughout the world.

Metaverse is not for everyone

Al Olama pointed out that the summit will also showcase the best in-class services and opportunities that are in the metaverse and key challenges that the governments are going to face in this field.

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“The metaverse is not for everyone and it is not an easy world to go into but we believe this is going to be accelerating in terms of ease of access and ease of use. So what governments should do today to prepare for future tomorrow that has metaverse as a key component of creating a better economy and provide better services,” added Al Olama.

“We want this summit to be a meeting point of the greatest investors, thinkers and leaders. We are also going to celebrate ‘The Best Minister in the World’. That is an award which will be given to the minister who created the most positive change and made the world a better place,” he added.



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