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

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

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 conversation centered on the current NFT craze, Al Marri’s comments centered largely on forthcoming tokenization use cases and their regulation.

According to Al Marri, the country has ambitions to grow its GDP by 7% yearly, which would put it on track to double the size of its economy by 2030. Tokenization will be a key cog in this effort, as “tokenization compliments information-based economies.”

Trending: WATCH: What You NEED To Know About SPARS

Perhaps most exciting from an adoption standpoint, the

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend