Dubai to be the centre of Cryptocurrency’s Next Leap
Dubai is poised to host a pivotal event in the cryptocurrency sector, bringing together industry leaders later this month.
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This gathering is designed to create unity among web3 players, aiming to close the division between decentralized projects and centralized exchanges in order to elevate the widespread use of digital currencies to new heights.
The conference, titled ‘The Next Frontier of Crypto Adoption‘, is set to take place on April 18 at the Emirates Financial Towers in the Dubai International Financial Centre (DIFC). It seeks to motivate web3 developers to collaborate with centralized exchanges, using these platforms to enhance the visibility and capability of their initiatives.
A senior official from Bitrue, a leading cryptocurrency exchange that teamed up with XDC Network to take the lead in organizing the event, mentioned that Dubai’s success in hosting key events such as Dubai Token2049 and ETHDubai, played a pivotal reason for its selection as the venue.
Dubai’s strategic position as a crossroads for Europe, Asia, and Africa, along with its conducive business environment, cutting-edge infrastructure, and solid security, further underscores its suitability.
Uniting for a Common Goal
Anticipation runs high for the gathering, with key players from the cryptocurrency and related sectors expected to participate. This includes top market influencers, project leaders, and representatives from Foundations and Venture Capitals.
While the collaboration between decentralized projects and centralized exchanges will be a focal point, broader industry strategies for advancement will also be tabled for discussion. This includes discussions on the current market trends and projections for 2024, promising intriguing developments and undisclosed announcements that promise to captivate attendees.
Setting the Stage for Future Growth
The Dubai meeting is not just an opportunity for strategic discussions but also aims to solidify the commitment to innovation and collaboration within the cryptocurrency industry.
It seeks to create an environment for knowledge exchange and networking, thereby driving cryptocurrency adoption to new heights. This initiative comes at a time when decentralized finance (DeFi) has garnered significant attention, yet centralized exchanges remain indispensable for providing liquidity, security, and wider accessibility.
The collaboration between Bitrue and XDC Network highlights the essential role of centralized exchanges in the crypto ecosystem. The Dubai event presents a unique chance for participants to gain insights from industry leaders, discover innovative projects, and network with like-minded individuals, marking a significant stride towards a more inclusive and user-friendly cryptocurrency landscape.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
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Saudi Arabia ranked first among countries for the non-oil exports of national origin with BD201 million (22%)
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Bahrain’s non-oil exports of national origin decreased by 6% to BD894 million ($2.37 billion) in Q2 2024 compared to the same period in 2023. The top 10 countries accounted for 64% of the total export value.
According to the Information & eGovernment Authority (iGA) in its Q2 2024 Foreign Trade report, Saudi Arabia was the leading destination for these exports, totaling BD201 million (22%). The US followed with BD75 million (8.4%), and the UAE with BD73 million (8.2%).
Unwrought aluminum alloys were the top exported product in Q2 2024, amounting to BD267 million (30%), followed by agglomerated iron ores and concentrates alloyed at BD159 million (18%) and non-alloyed aluminum wire at BD49 million (5%).
Non-oil re-exports
Non-oil re-exports increased by 4% to reach BD206 million during Q2 2024, compared to BD198 million for same quarter in 2023. The top 10 countries accounted for 86% of the re-exported value. The UAE ranked first with BD58 million (28%) followed by Saudi Arabia with BD39 million (19%) and UK with BD17 million (8%).
As per the report, turbo-jets worth BD65 million (32%) were the top product re-exported from Bahrain, followed by private cars with BD11 million (5%) and four-wheel drive with BD9 million (4%).
The value of non-oil imports has decreased by 4% reaching to BD1.41 billion in Q2 2024 in comparison with BD1.47 billion for same quarter in 2023. The top 10 countries for imports recorded 68% of the total value of imports.
China Bahrain’s biggest importer
China ranked first for imports to Bahrain, with a total of BD191 million (14%), followed by Brazil with BD157 million (11%) and Australia with BD112 million (8%).
Non-agglomerated iron ores and concentrates were the top product imported to Bahrain worth BD200 million (14%), followed by other aluminum oxide with BD101 million (7%) and parts for aircraft engines with BD41 million (3%).
As for the trade balance, which represents the difference between exports and imports, the deficit logged was BD310 million in Q2 2024 compared to BD322 million in Q2 2023.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
