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Driving Innovation: Entrepreneurship, Tech, and Crypto in MENA (Episode 29)
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Summary
Ahmed Abdulwahab, CEO of Next Arabia, discusses entrepreneurship in Saudi Arabia and the MENA region, highlighting the progress made in recent years and the challenges that still exist. He also shares insights on the future of Africa and the role of technology in driving economic growth. Additionally, Ahmed talks about a social initiative he launched in Kenya with MasterCard to address youth unemployment and underemployment. The conversation touches on the potential of cryptocurrency and tokenization in solving financial system issues and promoting financial inclusion. The conversation explores the use of technology for decentralized funding, the concept of collateralized assets and high liquidity, the acceptance of cryptocurrency by blocks of countries, and the future plans of Next Arabia.
Takeaways
-Entrepreneurship in Saudi Arabia and the MENA region has seen significant progress in recent years, but there are still challenges to overcome.
-The Saudi government has been actively supporting entrepreneurship through funding, accelerators, and incubators, but sustainability and organic growth are key for long-term success.
-Africa, with its young population and untapped market potential, presents a great opportunity for technological advancements and innovation.
-Initiatives that address youth unemployment and underemployment, such as the one in Kenya with MasterCard, can provide entrepreneurial opportunities and contribute to economic growth.
-Cryptocurrency and tokenization have the potential to solve financial system issues and promote financial inclusion, especially in regions with currency devaluation and limited access to traditional banking.
-Technology can be used to help local producers access funds in a decentralized manner through crowdfunding and tokenization.
-Collateralized assets with real assets, such as gold or avocados, can provide high liquidity and stable pricing in the cryptocurrency market.
-The real impact of cryptocurrency will be seen when blocks of countries accept it, rather than individual countries.
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