Conference

TOKEN2049 is a global conference series, where the crypto ecosystem and blockchain decision-makers connect to exchange ideas, network, and shape the industry. Let’s see how Masud and Uli experienced this event:

 

Masud:

As part of our ongoing commitment to staying at the forefront of innovation in the payments industry, Uli and me recently participated in the TOKEN2049 conference in UAE.

This event brought together thought leaders and pioneers from across the globe to discuss the future of digital assets, with a special focus on blockchain technology, stablecoins, and the transformative potential of tokenization in the finance sector.

Here, I'm sharing five key insights from the conference that could significantly influence our strategic direction.

 

•             Rapid growth and impact of stablecoins:

The conference underscored the exponential growth of stablecoins, particularly Tether (USDT), which has evolved into a critical component of the crypto ecosystem with a $109 billion market cap.

Stablecoins are becoming essential financial tools, especially in regions underserved by traditional banking systems. They offer a stable value against volatile local currencies and facilitate cheaper and faster cross-border transactions, which expands financial inclusion on a global scale.

 

•             Institutional and regulatory developments:

The discussions highlighted a growing interest from institutional investors and an evolving regulatory landscape that is beginning to embrace digital assets more warmly. This shift is crucial as it indicates a maturing market where digital currencies are not only recognized but also integrated into the global financial system.

The introduction of products like spot Bitcoin ETFs in various countries points to a more regulated and stable market, which could lead to broader adoption.

  

•             Enhancing cross-border transactions:

Integrating stablecoins such as USDT could revolutionize our offerings, particularly in managing cross-border payments where currency volatility is a concern. Stablecoins provide a dependable medium for transactions, reducing currency risk and improving the efficiency of settlement processes. This is especially relevant for AirPlus, as we continually seek to reduce transaction costs and enhance payment reliability for our corporate clients engaged in global travel.

  

•             Opportunities in tokenization:

TOKEN2049 placed a significant emphasis on the tokenization of real-world assets.

For AirPlus, this presents an opportunity to explore blockchain technology to tokenize travel-related expenditures and corporate assets, providing more streamlined and secure payment solutions. This could potentially include creating tokenized loyalty programs or corporate spending accounts that offer enhanced transparency and ease of use.

  

TOKEN2049 has showed several ways through which blockchain technology and stablecoins could significantly impact the financial landscape. The integration of blockchain in payment systems and the rise of decentralized financial products suggest that there is substantial room for innovation in our services. 

Embracing these technologies offers a strategic advantage, allowing us to stay competitive in a rapidly evolving digital economy. By incorporating insights from such global discussions into our planning, we can better anticipate industry trends and meet our customers’ future needs more effectively.

 

Uli:

Dubai´s global blockchain conference TOKEN2049 in April was a really inspiring business experience. The extreme weather conditions (flood In Dubai) required personal travel management at its best, an unique experience also for myself.

The conference with the international crème de la crème in blockchain and token Industry allowed direct personal talks to Global Blockchain Players like Circle. It was possible to evaluate face-to-face the options and the potential roadmap for a fundamental change from centralized credit card networks to decentralized token-based networks. A 360 degree worldwide overview for stablecoin offerings incl. Tether and Circle provided valuable insights about financial products.

While the EU is far ahead in terms of regulations for Blockchain usage, the US is taking up speed step by step. This development opens a window of opportunities for European banks in tokenization.

The interface between blockchain and credit card industry (wallets with physical and virtual credit cards that can be funded with crypto currencies) is mainly covered for underbanked countries.

While in fully-banked regions like Europe and North America the urgency to use Blockchain technology for daily payments and savings is relatively low, there is a strong demand in countries like Argentina and a lot of African countries, as well as nations where inflation is very high in addition to a lower reliability of the national central bank.

That creates hybrids where a credit cards can be founded with cryptocurrencies – an interesting combination where Mastercard`s regulatory requirements like KYC (know-your-customer) meet with crypto assets in the back. 

It was amazing to see that the tokenization of real world asset makes good progress in multiple Industries.

 

My key takeaway is from TOKEN2049 is that blockchain technology is on an unstoppable path across various Industries on a global basis.

If risk managers from very traditional companies like "Münchener Rück" show their strong interest in crypto and co., we can assume that it indicates that there is a real need. While in payments innovative developments have to deal with a bunch of regulations which might take partly speed of the technology itself is on a good way to strongly support businesses outside of purely crypto bets.