Blockchain and Cryptocurrency
Cryptocurrency is a virtual currency or digital currency based on cryptography. Crypto is made of very complex programs that use encryption technology. Bitcoin, Ethereum, Ripple, Lightcoin, and Stellar are the major cryptocurrencies, and Bitcoin is the most popular and valuable bitcoin among them. Due to its unique and convenient nature of self-sufficiency, it quickly became a popular and practical digital asset for currencies worldwide.
Cryptocurrency in Middle East
Following the listing of Bitcoin funds on the Dubai Nasdaq Exchange in mid-2021, the acceptance of blockchain technology and crypto in the Middle East has risen. Ripple, a leading provider of enterprise blockchain and crypto solutions for cross-border payments, has announced plans to launch a new platform on-demand liquidity (ODL) in the Middle East in collaboration with Dubai-based blockchain.
A Dubai-based cryptocurrency exchange, Bit Oasis, raised $ 30 million in the Series B funding round led by Jump Capital, indicating progress in the sector.
Dr. Manahel Thabet in Cryptocurrency
“The concept of digital money has evolved into decentralized systems such as cryptocurrencies”, the leading scientist and knowledge based economist Dr. Manahel Thabet observes. “Digital currencies have since emerged as the most effective remedy to solve the repercussions of the global economic meltdown”, continued Dr. Thabet.
A scientist and knowledge based economist, Dr. Manahel Thabet, makes many observations in this field and explains how it can be accessible to the public, and encourages young people to venture into this innovative way. She writes that a person’s exposure to crypto should be kept at a reasonable level and that the exposure limit should depend on their age, income, the status of wealth, and asset classes in which the wealth is invested. Dr Thabet is a weekly columnist in al Bayan Newspaper since 2017. She is considered as an expert in the fields of Fintech, Digital economy and Digital Transformation.