The annual meeting of the World Economic Forum in Davos, Switzerland, brought together 3,000 participants from around the globe. That included 1,600 business leaders, 350 heads of state and government ministers, and hundreds of academics, civil society leaders, and entrepreneurs.
The conversations revolved around AI, blockchain, and crypto, with themes revolving mainly around the regulatory environment.
Bilal Bin Saqib, MBE, a Pakistani crypto entrepreneur and a web3 growth expert, was part of different panels at the World Economic Forum and Crypto 2030, speaking on regulations and their importance in fostering innovation in today’s rapidly advancing technological environment.
According to Bilal, “The ongoing regulatory and compliance shifts pose significant challenges, creating roadblocks that hamper the functioning of financial institutions and innovation.”
The regulatory environment in crypto has been one of the most talked-about topics, especially after the spot Bitcoin ETF approval. Commenting on the same, Bilal said that the ETF gives ‘Bitcoin legitimacy, decreasing regulatory uncertainty, and giving crypto the reputation of an asset class’. He commented that the involvement of financial institutions like BlackRock will ‘ensure strong oversight and investor protections, all in a convenient and familiar investment class.’
At another panel during Crypto 2030 in Davos, Bilal spoke about the importance of Key Opinion Leaders (KOLs) in the crypto industry. Bilal, who himself has 300,000 followers across social media platforms, commenced on how ‘influencer marketing is the culmination of the promise social media initially gave us.’
Bilal contributes the high rate of crypto adoption to the education that KOLs have created. He further says, ‘From driving crypto adoption to helping us navigate the complex ecosystem, KOLs have been an integral part of the journey of cryptocurrencies. But what they have most importantly left a mark on has been Education. I believe that the high crypto adoption rates, especially in developing economies, can be directly linked to the education that KOLs have created, consistently and selflessly.’
Bilal also hosted Mr. Umar Saif, the Federal Minister for IT and Telecommunications, at the CRYPTO2030 event.
The 54th annual World Economic Forum comes at a crucial point in the global economic and geopolitical scenario, with technology taking centre stage as conversations revolved around AI and crypto.
