Blockchain and cryptocurrency have truly changed the way the internet works and provided a new decentralized version where everyone can collaborate. Many shows and events currently take place relating to blockchain and this year’s hallmark event was The Global Blockchain Show 2024, held on December 12-13 at the Grand Hyatt Exhibition Centre in Dubai.

It had a count of over 3000 professionals, 200 startups, 100+ investors, and speakers who participated in the event and gave their insights on blockchain technology, finance, and digital transformation. This year’s show mostly focused on decentralized finance, Web3, the Metaverse, and the growing influence of blockchain.

In this blog, we are going to look deep into some key takeaways from the global blockchain show this year and explore some current trends.

Blockchain Keeps Inspiring The Gaming Industry

In the Global Blockchain Show 2024, the key focus was on Web3 gaming and how to integrate blockchain to create a smooth experience. The influence of blockchain technology on gambling is not new and has been a central part of the development of digital gaming. Moreover, it represents the value of cryptocurrencies as a safe and instant way of transactions. As an example, the Roulette Bitcoin game on this platform is modern and sought by many gamers not just because people love playing roulette but because they take advantage of the security of blockchain and the convenience of Bitcoin transactions.

Roulette is a game that involves players being transparent in order for outcomes to be deemed fair. Well, this is an important area where Blockchain tech can come into play. It offers a system where outcomes are transparent – they also cannot be influenced by others.

As a result, people were able to put more trust into roulette systems. Not to mention, it offers a way for players to securely transfer funds quickly and with fewer fees. This is something that players saw as an issue with traditional payment systems.

The Rise Of Blockchain-Based Web3 Gaming

Web3 gaming was also another important topic in the event that gained a lot of attention from the speakers and guests. Unlike traditional gaming where you cannot use an asset or item from one platform to another, Web3 gaming can give full ownership over the asset to the player in the form of NFTs and smart contracts.

Yat Siu from Animoca Brands highlighted how Web3 gaming could transform digital entertainment and gave more context to the concept of “play to earn”. This meant players could monetize their skills and assets to earn income, and gaming studios could use them to create economics to benefit everyone. Many speakers also discussed the interoperability of NFTs and how they could be used across multiple games and platforms for a new type of gaming collaboration.

Metaverse Integrations With Blockchain

There were important discussions regarding metaverse integration with blockchain. Since the metaverse offers a virtual world for users to interact, there is a lot of retail and eCommerce going on. For this, the use of cryptocurrencies within the blockchain network and securing the transactions can help users own assets in the form of NFTs and use them everywhere.

This is also good for artists and entrepreneurs since they can sell their work directly without the need for middlemen. For example, musicians can host concerts in a virtual space where users can pay for it with crypto.

Decentralized Finance And Blockchain Innovation

We can see that DeFi platforms are growing faster than regular payment systems. This is because they are easy to use and offer people lots of transparency which they appreciate. Many experts in this field are discussing how important these platforms are and how they are changing the finance industry. Along with these discussions come insights into how automated DeFi tools make previously complex tasks simpler. Additionally, many experts also talked about the role of DeFi in creating trustless lending platforms so that users can access loans without credit checks or long banking approvals.

The global DeFi market is also projected to surpass $231 billion by 2030, and this means the demand for a decentralized currency is rapidly growing. Rachel Conan from Binance discussed how blockchain is creating decentralized ecosystems that create both transparency and security.

Final Thoughts

This year’s Global Blockchain Show was a success that discussed various important issues relating to blockchain and its innovations in the current digital landscape. The event saw participation from many key people who advocated for decentralized currencies. The success of this event goes on to show that in today’s world, more such events are needed to educate people about the benefits and scope of blockchain technology.