October 9, 2023

Saudi Arabia Hosts Web3 Summit on October 19

Web3 Summit: Blockchain & Beyond

Web3 Summit: Blockchain & Beyond

The Blockchain Research Institute Middle East (BRI ME) is organizing the Web3 Summit: Blockchain & Beyond to explore the progress and potential of blockchain technology and Web3 in Saudi Arabia and the surrounding region on October 19.

The event has received significant backing from prominent sponsors such as SCEGA, TONOMUS NEOM, FedEx, Dialectic, and IR4Lab. These sponsors, who are highly respected corporations and government organizations, share a collective goal of leveraging the power of blockchain technology. Their support highlights the importance of collaborative efforts in fully realizing the potential of blockchain across various industries.

“We are thrilled to present the Web3 Summit: Blockchain & Beyond, a platform that brings together visionaries, thought leaders, and industry experts to shape the future of blockchain and web3,” said Aline Daoud, the Managing Partner at BRI Middle East.

With the participation of more than 1,000 people, the summit will delve into various topics, including document authentication, carbon credits, supply chain management, and decentralized autonomous organizations (DAOs) for Islamic finance. These use cases demonstrate the versatility and potential of blockchain technology in addressing complex problems and promoting positive change in the Middle East.

Although Saudi Arabia has yet to impact the global game and AI development significantly, experts in the Web3 field believe that the country’s investments in the gaming sector could have far-reaching effects.

Based on their work and communications, Animoca Brands co-founder Yat Siu revealed that Saudi Arabia is very interested in Web3.

Through partnerships with entities like The Sandbox and Animoca, Saudi Arabia is making efforts to explore the new iteration of the internet.
Yat Siu said: “I think Saudi [Arabia] understands the principle that Web3 gaming or blockchain gaming — the one that we prove the owner assets — is going to be the future of gaming.”

Thanks to its young and tech-savvy population, Saudi Arabia and the UAE are leading the growth of the Middle East’s gaming market.

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