Add to this the advances in global communication networks, according to world-renowned futurist Peter Diamandis, by 2024, nearly all 8B people on Earth will be online and once connected, these customers will need access to money and financial services to meaningfully participate in the world economy.
By connecting lenders and borrowers around the globe, decentralized lending drives down global interest rates, increases global financial market participation, and enables economic opportunity to the billions of people who are about to come online.
“Technologies such as AI and automation have found wide application globally as well as AR and Blockchain are creating new experiences and powering new realities and new customer experience. The time is now for banks in the UAE to jump on board,” he said.
“With blockchain adoption into the KYC process high on the regional agenda not to mention initiatives such as Emirates Digital Wallet and TASHARUK platform, the future looks bright and pioneering global initiatives such as A360 that give our community a wonderful opportunity to learn from the best about these transformative financial technologies,” he added.
These comments were made as he announced UBF’s support of the upcoming Abundance 360 (A360) Summit in Dubai, a highly-curated C-level program conceptualized by Peter Diamandis for public sector executives, investors, and entrepreneurs committed to transforming their organizations into exponential, abundance-minded enterprises.
From biomedicine stalwart Dr. Robert (Bob) Hariri, Founder, Chairman and CEO of Celularity, to Cevdet Samikoglu, CFO of Samumed and Philip Rosedale, CEO of High Fidelity, the speaker lineup at Abundance 360 is not to be missed.