The Museum of the Future recently hosted the guest of honour Changpeng Zhao, Founder, and CEO of Binance, the world’s biggest bitcoin and altcoin crypto exchange by volume, on the first installment of the Future Talks series at Dubai’s iconic Museum. The series will see prominent futurists, industry experts and scientists offer unique insights into humanity’s greatest challenges and their solutions.
Zhao commonly known as “CZ” presented his insights during an hour-long session about cryptocurrencies and the future of digital finance. In his presentation, Zhao hailed the Museum of the Future; Dubai’s latest architectural landmark, as a fitting stage to discuss the role of cryptocurrencies, which he described as “the money of the future”.
“People have not yet explored all the possibilities offered by blockchain technology, which may have applications beyond our current imagination”, said Zhao, adding that neglecting the global shift towards cryptocurrencies is a mistake, praising at the same time the pioneering legislative framework of Dubai and the UAE that provide proper legal incubators for advanced and innovative technologies such as cryptocurrencies.
“It is a great honour to be one of the first speakers in the Future Talks series and to witness first-hand the Museum of the Future; it is truly fantastic,” Zhao said. “Blockchain has many new applications we had previously not even imagined, and it is fitting to be talking about cryptocurrencies here, at the Museum of the Future, as cryptocurrencies are the money of the future.”
During his talk, Zhao said, “The main risk with cryptocurrency is the risk of not adopting it; you risk losing the future. If you don’t take that risk, you don’t have the future, as you don’t have the future of money. Bitcoin is neutral, and it doesn’t have borders. It doesn’t side with anyone. And it can be used in any country. So, in theory, it should hold its value – in this way it is far superior to gold.”
Addressing cryptocurrency ‘doubters’, who dismiss digital assets such as Bitcoin as a bubble destined to burst, Zhao said, “I believe cryptocurrencies and blockchain are not bubbles. They will not go away. Once you have a couple of hundred million people using cryptocurrency, you cannot erase it.”
He shared his vision for the pivotal role of Dubai in globalising the future of the sector, and regulation of the sector saying: “Today, the industry is still young. We need frameworks. It is also very important for industry players to be working closely with regulators. Some regulators like Dubai, the UAE, in many parts of the world are very, very smart about this,” Zhao added.
He also added, “We should encourage people to adopt this technology, but we should adopt it in a safe way. There should be information sharing but there has to be a balance with privacy.”
For his part, Saeed Al Gergawi, Head of Dubai Future Academy, said, “The ‘Future Talks’ series meet the vital and main objective of the Museum of the Future, which is to be a laboratory for innovation in future-related fields, including health, education, smart cities, energy and transportation, and finance. Having Zaho as the first guest of the series is a strong kick-off as he is considered one of the most prominent visionaries who contribute to generating ideas and perceptions to address the challenges facing societies today.”
Saeed Al Gergawi added, “The ‘Future Talks’ sessions from the Museum of the future aims to be a leading platform for the dissemination of knowledge and a pool of great ideas that support the Museum’s efforts to accelerate scientific development in various fields.”
Zhao’s session is part of a series of nine talks that the Museum of the Future will hold from February 24 to March 29. Talks are open to the public free of charge, subject to prior registration via the museum’s website.
These talks, during which global industry leaders will focus on the future of their sector, revolve around several topics that discuss opportunities in: the field of cryptocurrencies and non-fungible tokens (NFTs); the role that Dubai plays in investing in the future; the future of mixed reality; the reality of the Arab world; science; the future of mobility; the role that metaverse technology plays in changing the world; the future of finance; the future of the technology sector; and the state of the world in 2022.
Future Talks aims to explore various fields and enhance the ability of research institutions to anticipate the future, as well as celebrate the successes of scientists and talents and institutionalise, design and create the future. This reflects the role of the Museum of the Future, which represents a global intellectual centre that brings together international partners and specialised research institutions to study current and future challenges in depth to provide new and innovative solutions.