During a recent gathering in Egypt, blockchain leaders including Kostas Kryptos Chalkias of Mysten Labs, Mohamed Abdou of Pravica, Gregorios Siourounis of xMoney Global, and A. Tony Amer of EMURGO Labs came together to discuss the integration of blockchain technology into the economies and societies of Egypt and the MENA region.
This week, global and regional blockchain experts convened in Egypt to explore the implementation of blockchain solutions across various sectors in the Arab world. Their aim is to incorporate blockchain technology into areas such as finance, logistics, education, government, and more, in an effort to advance digital economies in the MENA region.
The meeting was organized by the newly established Arab Blockchain Center, a collaboration between Pravica, a MENA-focused blockchain company, and the Arab Academy for Science, Technology, and Maritime Transport (AASTMT).
Collaboration for Blockchain Solutions in Egypt
The group of experts is focused on promoting widespread adoption of blockchain technology, particularly in areas such as off-chain transactions, cross-border payments, document security, and remittances in Egypt.
Kostas Kryptos Chalkias, Co-Founder of Mysten Labs, highlighted the importance of practical blockchain applications like cross-border payments and digital identity in shaping a more inclusive and efficient financial future for the MENA region.
Mohamed Abdou, CEO of Pravica, emphasized the goal of building an on-chain banking 2.0 infrastructure using blockchain technology to enable services such as instant cross-border remittances and secure lending.
Georgios Siourounis, CEO of xMoney Global, shared his vision for advancing cross-border digital payments to promote financial inclusion across borders.
The meeting was attended by representatives from academia, banking, and government sectors in Egypt.
Tony Amer, CEO of EMURGO Labs, expressed the importance of Egypt and the region actively participating in the blockchain revolution rather than just observing.
While the Egyptian government has restricted crypto trading, they are exploring blockchain applications in trade, logistics, carbon markets, and even considering a Central Bank Digital Currency (CBDC). The potential impact of blockchain in Egypt’s predominantly small and medium-sized business landscape is significant.