Is Dubai ahead when it comes to crypto adoption?

BY
Bitskwela
/
May 6, 2024

Dubai recently hosted Token2049 last April 18-19, and it was spectacular.

I've been to countless conferences, but the main event was unlike any other. In contrast to the usual all-day talks, the main event had a laid-back vibe that resonated with all attendees — an acoustic session on one side and a DJ on the other. It was more than just a Web3 meetup; it was a gathering of people who shared an equal burning passion for crypto.

Main stage in Token2049

The main event took place at Madinat Jumeirah, both indoors and outdoors. Indoors, a plethora of booths from different projects were found, alongside speaking sessions featuring exemplary leaders such as Pavel Durov (CEO of Telegram), Gavin Wood (Founder of Polkadot), Raj Gokal (Co-Founder of Solana), and many more gracing the main stage, while pitching sessions took place in another.

If the indoor experience was impressive, the outdoor setup exceeded expectations. It had a relaxed vibe that made connecting with people much deeper. With grilled foods, fluffy bean bags, and a boat that allowed attendees to go around the venue, the experience was even more memorable.

Token2049 Week

BitDigest team in Token 2049

A day before the main event, heavy rainfall caused severe flooding throughout the city. Despite road blockages, unavailable taxis, halted buses, and closed trains, the Web3 community showed resilience. Even when side events were canceled or postponed, people created their own gatherings in hotel lobbies— nothing could stop the Web3 community!

The day after, the main conference and all side events were still packed. These side events, held in amazing venues and attended by passionate Web3 enthusiasts, were no ordinary gatherings.

As they always say, the real value often lies in the side events. While the main conference was magical, the rest of the week attending different events while enjoying beautiful Dubai was an entirely different feeling.

On Dubai

The event itself is a representation of Dubai's fast crypto adoption. Its crypto-friendly policies and regulations have created a safe haven for Web3 startups to thrive.

"The UAE has also seen the highest statistics in terms of interest towards cryptocurrencies, as 29 percent of users surveyed for our study believe that digital assets offer a more convenient way of holding assets, making it one of the fastest-growing markets globally for cryptocurrency adoption rate," according to Vugar Usi Zade, COO of Bitget.

Moreover, its increasing adoption rates, high daily active users, and strategic placement between European and Asian markets further strengthen its position globally.

The Token2049 week allowed us to get a glimpse of Dubai and witness the excitement among all the people involved in Web3 and the passionate builders. It's undeniable that Dubai drives the entry and expansion of crypto and blockchain projects.

Bitskwela
Education Company

Bitskwela is a Filipino-led edutech platform that strives to make Bitcoin and cryptocurrency education accessible to all Filipinos of any ethnicity.

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