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MASIC ANNUAL INVESTMENT FORUM

MASIC ANNUAL INVESTMENT FORUM

6 Feb, 2022 to 11:45 PM (GMT+3)
Al Faisaliah Hotel, Riyadh
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Phone: 920025030
Email: [email protected]
Website: Click Here

In August 2008, as world leaders grappled with the most severe financial crisis since the Great Depression, the domain name www.bitcoin.org was registered on the internet. Two months later, a paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” appeared online, and heralded the meteoric rise of not only Bitcoin, but also the concept of digital currencies (money that exist only in electronic form).

Today, the growing significance of digital currencies is challenging the traditional financial system for consumers and companies alike. Cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and thousands of others, are created and managed through the use of advanced encryption techniques known as cryptography and use a decentralized system which records transactions in a distributed ledger called a blockchain. In 2021, the total market capitalization of cryptocurrencies crossed $2 trillion as governments, multinational corporations, and mainstream investors and family offices started to either establish, accept or invest in cryptocurrencies. However, this rapid growth has given rise to concerns that a speculative cryptocurrency bubble may be about to burst, as well as further scrutiny of their environmental impact.

Governments, meanwhile, have responded by exploring the establishment of central bank digital currencies (CBDC), which would exist alongside cash and bank deposits, rather than seeking to replacing them. In late 2019, the Kingdom of Saudi Arabia launched Project Aber in conjunction with the UAE to explore the feasibility of a cross-border digital currency. In April 2020, China become the first major economy to launch a CBDC pilot, with the People’s Bank of China conducting real-world trials for its “digital yuan”. Research from the Bank for International Settlements states that 80% of central banks are engaging with CBDC initiatives, with 50% already progressing an experimental or pilot phase.

The 2022 MASIC Annual Investment Forum will be held during a period of significant global technological disruption – as the rise of digitalization, big data and advanced computing capacities creates a new era for financial services. The 2022 Forum theme, entitled “Digital Currencies: The Road Ahead”, will explore what future holds for digital currencies and how investors should respond to this relatively new and multi-faceted phenomenon. As the international adoption of digital currencies gathers pace, the Forum’s globally renowned and expert speakers will cover the emerging opportunities and benefits that accompany digital currencies, while also exploring the eminent risks and threats that they pose for governments, regulators, financial services institutions, investors, and our wider monetary system.

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