Despite many jurisdictions and financial regulators taking a skeptical approach to the cryptocurrency sector, there are those who believe that it has already permanently changed the world and that the future of finance is tightly linked to it.
One of them is the state minister for artificial intelligence (AI), digital economy, and remote-work applications in the United Arab Emirates (UAE), Omar Bin Sultan Al Olama, who has expressed optimism in terms of the crypto future in his piece published in The Banker on September 28.
Being part of the mainstream instead of evading it
In his view, “many involved in the initial development of cryptocurrencies and associated technologies wanted to use them to circumvent mainstream financial institutions and monetary systems,” but “this is not a practical nor a desirable goal for obvious reasons.”
Therefore, the minister believes that:
“Rather, the future of digital currencies lies firmly within the mainstream financial system, where they can...
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