Cryptocurrencies Open Doors for New Business Players

Innovation, digital transformation will pave the way for more large-scale crypto deals in future

By Muzaffar Rizvi

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Published: Fri 29 Mar 2024, 11:05 AM

UNICOIN'S landmark crypto deal will set the stage for a new trend in the real estate sector, particularly in the Gulf Cooperation Council (GCC) countries that are known for their forward-looking regulatory environments and tech-friendly investment climates, its top official says.

Silvina Moschini, Founder and Chief Executive Officer of Unicorn Hunters and Founder of Unicoin, said that Dh2,033.18 million ($554 million) crypto deal to acquire land holdings in the Bahamas and digital transformation will pave the way for more large-scale crypto transaction in a range of sectors and regions.

“Yes, I believe that Unicoin's landmark deal will set the stage for what will be a rapidly growing trend in the real estate sector, particularly in regions like the GCC that are known for their forward-looking regulatory environments and tech-friendly investment climates," Moschini told BTR. Excerpts from the interview:

Please highlight the importance of the digital economy and shed light on entrepreneurship and the future of money in the wake of the growing popularity of cryptos.

Business today is more dynamic and more global in scope than ever before.

Outdated banking and currency regimes have been slowing innovation and growth because they are so stuck in yesterday’s reality. Cryptocurrencies, by contrast, open the doors to financial services and markets for new business players who are directly engaged in entrepreneurship, where it is happening — not locked down in faraway financial centres.

Because of what we are doing at Unicoin — specifically when it comes to offering a cryptocurrency that is backed by assets that are audited and about which there is public reporting — there is now greater security and transparency than ever before.

Cryptocurrencies are based on underlying blockchain technology, providing a more secure method for data storage and smart contracts, ensuring greater human reliability and trust in digital transactions. This increase in trust and reliability will continue to drive interest in digital assets, which could significantly alter the investment landscape by offering alternative and more attractive options for seasoned and novice investors and digital entrepreneurs alike.

Unicoin is breaking down the barriers to business that overly centralised control and exorbitant transaction fees had put up in the way of new players in the global economy. We are democratising access to wealth creation — younger businesspeople, women, and those in emerging economies are the entrepreneurs of today and tomorrow, and we are working with them to capitalise on the future of money. Altogether, this leads to increased business opportunities and a more robust economy.

Unicoin recently completed the largest-ever crypto deal in real estate with its acquisition of land holdings in the Bahamas valued at $554 million. Do you expect more deals of this nature, especially in the GCC region?

Our recent half billion real estate acquisition in the Bahamas is a good example not only of the quality of assets securing Unicoin’s value, but also of our potential for more large-scale, crypto transactions in a range of sectors and regions. Yes, I believe that Unicoin's landmark deal will set the stage for what will be a rapidly growing trend in the real estate sector, particularly in regions like the GCC that are known for their forward-looking regulatory environments and tech-friendly investment climates.Public reporting and audits of the assets on which our crypto is based give Unicoin an unparalleled edge, and our consumers tend to be favourably disposed towards deals in the Gulf region, because they know smart money follows smart money. Real estate is one concrete and tangible asset class given to appreciation, but we are clearly growing into other sectors as well.

Other than real estate, which sectors have the potential to encourage, or gain traction in the area of digital currencies?

Think of the key sectors of the economy, and in each you’ll find ample room for growth, unleashing crypto currency’s potential. Just looking at the digital yuan’s utilisation in China, from public services to utilities, this provides us with a glimpse into the potential use cases for digital currency adoption that could be replicated globally.

But let’s start with energy and utilities. These interrelated sectors are themselves undergoing revolutions in how we tap into new sources of energy; how we finance its production; how we develop energy into the vital utilities that power every home and business in the world; and how the end-consumer pays. In each segment, the role of cryptocurrency is expanding. Utilities, for instance, are now recognising the value of block-chain in achieving new efficiencies. So too are green energy solutions, just as awareness is growing about the need for climate-friendly solutions to cryptocurrencies. Education, as another example, could utilise digital currencies for straightforward tuition payments, and further facilitate international student transactions. When it comes to healthcare, we are seeing vital projects and technologies underwritten and powered by cryptocurrencies more and more. Of course, it goes without saying that retail and commerce are relying on cryptocurrencies like never before.

Do you see any major challenges for cryptocurrencies this year?

There are a few trends we are already seeing globally when it comes to cryptocurrencies.

First, we are seeing the wider adoption of blockchain, as crypto is coming ever more into mainstream use in commerce, investments and finance. Forward thinking markets, like those in the Gulf, are clarifying their regulatory frameworks, making crypto an ever more trusted and reliable solution.

And importantly, blockchain technology is improving. Whether it’s supply chain, asset trading, or record management, critical areas of burgeoning economies are benefiting from these technological advancements every day.

Upcoming events and trends in 2024, such as Bitcoin's halving event, the utilisation of decentralised platforms for physical infrastructure, and the continued integration of AI into cryptocurrency, point to blockchain technology’s increasingly pivotal role. But when it comes to the challenges, they are largely what you might expect — volatility and price fluctuations, security concerns, and regulatory uncertainty. For these reasons, trust and accountability are more important than ever.

That is why companies like Unicoin are experiencing the record growth you are already seeing, and priming ourselves to expand into new markets, both in terms of sectors and geography.

How do you see the future of Web3, the Metaverse, Blockchain, and AI?

Technological advancements in each of these areas are necessarily inter-connected, because we share a common path of innovation and transformation. Across the board, consumers want the same things, whether it is from digital currencies, AI, Web3 and/or the Metaverse: better quality user experiences and improved privacy protections.

Each area of technology growth faces challenges when it comes to scalability, interoperability and governance, so it is critical to focus on how companies are addressing these issues. At Unicoin, we are carefully tracking parallel developments with key technologies, whether it is because of the assets that undergird our value or because we are helping other technologies grow intelligently, accountably, and sustainably. I believe that the future of Web3, the Metaverse, Blockchain, and AI will ultimately result in a seamless convergence that collectively drives forward innovation and digital transformation.


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