CST | 27 Mar 2023 | 2 min read
Our CEO (Dubai), Toby Young recently spoke at the World Blockchain Summit in Dubai.
The summit focused on the theme ‘Fostering The Future of Web 3.0’ – a topic Toby has expensive knowledge and experience with.
He moderated the “The Big Picture: Market Outlook for 2023” session. On this panel the pricing of Digital Assets, current market sentiment, including what has driven prices this year and institutional participation and infrastructure, was discussed. The conclusion from the panel was that Digital Assets are not going to disappear, but their constructs are likely to change over time, with existing service providers and trusted fiduciaries in the investment world looking to build and invest in infrastructure projects to ensure they are not left behind as regulation develops and user adoption grows within the digital space.
He was a panellist in the fireside chat session focusing on “Web 2.5: Bridging the Gap between Web 2.0 and Web 3.0.” Discussed on this panel was the potential for companies to become digital entities, yet in reality needing to continue to be set-up in a traditional structure. This includes layer 1 and 2 protocols, DeFi platforms and also potentially DAOs. At present the world is not ready to be fully digital and, as such, the existing status quo in terms of structure and compliance with traditional structures needs to remain. Despite being able to transact in Digital Assets, entities still need to be able to pay their bills and potentially salaries in fiat currencies. As such, entities need to remain compliant within the existing real world.
