< Previous40 Vol. 24/04, April 2023 Cisco’s sustainability commitment envisions a better future for all With sustainability gaining unprecedented prominence globally, Cisco’s efforts are directed towards building more equitable, inclusive, and sustainable societies and economies. Reem Asaad, Vice President of Cisco Middle East and Africa, shares how its ambitious green goals contribute to the region’s sustainability objectives Making a difference Cisco believes technology is truly powerful when combined with education, Asaad says 72% The proportion of Cisco's data centres which are shifting to renewable energy SPOTLIGHT | Embracing comprehensive sustainability Cisco strives to ensure that technological advancements are aligned with environmental goals, given the growing pace and scope of digi- tisation worldwide. Besides focusing on using renewable energy sources and achieving a circu- lar economy, the company is also building greener solutions to help customers reduce their envi- ronmental impact. Bridging the skill gap to create a more empow- ered workforce is another dimension of Cisco’s eff orts to ensure equitable societal and economic growth. “At Cisco, we have long realised that tech- nology is truly powerful when combined with education,” Asaad says, highlighting the remarkable impact of the Cisco Networking Academy, which has trained and upskilled more than 2.7 million learners in critical IT skills across the Middle East and Africa, of which 33 percent are females. Cisco’s eff orts to facilitate skill-building also aim to secure the creation of a future-ready work- force, where technical expertise will prove crucial across sustainability roles such as environmental data scientists, energy analysts, environmental consultants, and chief sustainability offi cers. Companies like Cisco, Asaad explains, should support national visions for digitisation by linking national digital ambitions to the benefi ts of a more inclusive digital future. A key initiative in this direction is the Country Digital Acceleration (CDA) programme through which Cisco collaborates with national leadership, industry, and academia to strengthen the digital economy and empower nations to harness the power of technology. “I am proud that CDA has a signifi cant presence in our region, helping build sustainable, secure, and inclusive communities powered by ethical and innovative technology solutions,” she says. Inspiring the wider business ecosystem In addition to Cisco’s initiatives aimed at address- ing its carbon footprint - like 72 percent of its data centres shifting to renewable energy, thereby achieving a 40 percent reduction in carbon foot- print in fi ve years - the company is also promot- ing sustainability across its business ecosystem by inspiring its customers, partners, and employ- ees to embrace sustainability. The company’s hybrid work approach deliv- ers multiple benefi ts, such as reducing commut- ing, optimising space utilisation, developing sustainable products, and designing energy-ef- ficient and carbon-reducing buildings. “We recently announced Carbon Emissions Insights in Webex Control Hub that deliver actionable BYSHAJ HAMEED C isco’s proactive sustainability efforts include a broad understanding of the concept of sustainability and confi dence in its ability to make a real positive contribution to society by leveraging its technology innovation and expertise, according to Reem Asaad, Vice President of Cisco Middle East and Africa. Not only are Cisco’s sustainability initiatives aligned with the UN’s Sustainable Development Goals (SDGs), but they also demonstrate the company’s commitment as a tech industry leader to accelerate the twin transition to a digital and green future. “We believe businesses and tech leaders must become ethical stewards of digiti- sation so that technology growth can be positive and sustainable,” Asaad explains.arabianbusiness.com 41 Responsibility Cisco aims to incorporate circular design principles across 100 percent of its new products and packaging as part of its circular economy strategy by 2025 2.7M The number of people Cisco Networking Academy has trained in IT skills across the Middle East and Africa insights to help organisations meet their sustain- ability goals. In addition, Cisco's Silicon One chip helps customers achieve signifi cant reductions in power consumption, and our smart building solutions help our customers reduce their energy use through low-voltage Power over Ethernet (PoE) smart switches that provide network-based monitoring and control of temperature, lighting, air quality, and other building characteristics,” Asaad elaborates. By 2025, Cisco aims to incorporate circular design principles across 100 percent of its new products and packaging as part of its circular economy strategy. Sustainability milestones and targets One of the key recent milestones in Cisco’s sustainability journey has been the appointment of the company’s fi rst-ever chief sustainability offi cer, Mary de Wysocki, in August 2022, with the aim of driving greater eff orts in sustainable inno- vation and commitment. “Since 2008, we have been setting and achieving goals to reduce our scope 1 and 2 greenhouse gas emissions. We are targeting near-absolute reductions - 90 percent - across all scopes (1, 2 and 3) by 2040 and have set near-term targets, including a 90 percent reduction of our scope 1 and 2 emissions by our Fiscal Year 2025,” says Asaad, adding, “We’re one of the fi rst technology, hardware, and equipment companies to have our net zero goal validated under the SBTi’s Net-Zero Standard.” Cisco publishes its Purpose Report every year, which provides accurate and transparent data on its sustainability impact and progress. The company has also formulated a clear roadmap to achieving net zero by enhancing the energy effi - ciency of products and services, embedding circular economy principles across the business, accelerating the use of renewable energy, invest- ing in innovative carbon removal solutions, and embracing hybrid work. Supporting regional sustainability goals As a seasoned executive who has held senior posi- tions including sustainability leadership across diverse business sectors, Asaad strongly believes that businesses can play a crucial role in support- ing the region’s sustainability goals by accelerat- ing commitment, execution capability, and resource availability. She points out that compa- nies must view sustainability as a driver of busi- ness value focused on improving operational effi ciency, competitive diff erentiation, and driv- ing innovation and revenue growth. Speaking of Cisco's mission for the region, she says one of the top priorities is to convey the value proposition of technological solutions to drive business impact and sustainability outcomes. “Today, companies need to look beyond short-term corporate sustainability initiatives and focus on developing long-term roadmaps for corporate sustainability implementation,” she states, recommending best practices like estab- lishing clear KPIs and goals and measuring prog- ress using technology, embedding sustainability into workplace culture, creating designated sustainability roles, partnering with govern- ments, and getting IT more involved as ways to incorporate sustainability into businesses. Asaad says that it is important for the MEA region to embrace sustainability as a way to build new sectors and engines of growth. “Across our region, we have a number of countries that have historically been economically dependent on oil. Today, we are seeing these countries actively work- ing towards diversifying their economies and renewable sources of energy,” she says. “Sustainability programmes in the region should focus on raising awareness and shifting mindsets to develop a collective voice aimed at addressing shared challenges like oil dependency, energy needs, resource scarcity, and environmen- tal concerns.” Asaad continues, “With the region hosting two consecutive COP summits – COP27 in Egypt last year and COP28 in the UAE later in the year - the discourse remains fi rmly within the Middle East and Africa, off ering the region a unique opportunity to play a key role in driving forward sustainability conversation and eff orts.” Since 2008, we have been setting and achieving goals to reduce our scope 1 and 2 greenhouse gas emissions | SPOTLIGHT42 Vol. 24/04, April 2023 Why shattering the glass ceiling will help your bottom line The glass ceiling is a massive hurdle that spans industries and inhibits the growth and potential of women and businesses alike Priority Attending to a business' female customer base refl ects an understanding of the audience the organisation is catering to 66% The percentage of UAE women working in the public sector – with 30 percent in leadership roles DIVERSITY | Creating avenues for women Despite being built on biases – both conscious and unconscious – and not being warranted by any statistics, research, or truth, the glass ceiling is a massive hurdle that spans industries and inhibits the growth and potential of women and businesses alike. More often than not, and equally concerning, is that it limits women in their own minds, creating the false impression that they can’t progress or achieve more than they already have. Based on my professional experi- ence across various industries – from logistics at Maersk to FMCG at PepsiCo – I can confi dently say that the glass ceiling is a cross-industry phenome- non, with the same negative eff ects in them all. However, since joining Hilton last year and engaging with many women across our business and the sector, I see exceptional opportunity within the hospitality industry here in the Middle East to create avenues for women to rise in their desired career paths – with many examples already shining through. With increased accessibility to management roles and the fl exibility to move between functions and departments, the hospitality sector is uniquely positioned to champion the female workforce and smash the meta- phorical glass ceiling into fragments. Apart from being the right thing to do, addressing the obstacles created by the glass ceiling is critical to the long- term success of any business. Whether B2B or B2C, attending to your female customer base refl ects an understand- ing of the audience you’re catering to and underpins a deeper relationship between company and customer. A 2019 study conducted by the Interna- tional Labour organisation, titled Women in Business and Management, found that more than half of compa- nies surveyed saw a positive correla- tion between gender diversity and business outcomes, with profit increases of up to 20 percent. Almost 57 percent also agreed that gender diversity initiatives made it easier to attract and retain talent. As the middle class evolves and more BY MARIE-LOUISE EK, VICE PRESIDENT, HUMAN RESOURCES – MIDDLE EAST, AFRICA, AND TÜRKIYE, HILTON T he glass ceiling is a provocative term that women around the world are, unfortunately, all too familiar with. In a modern society that is slowly – but surely – embracing diversity and equity, the glass ceiling remains a stubborn, invisible barrier that prevents women from reaching levels of leadership and authority. arabianbusiness.com 43 Women empowerment Ek believes there needs to be a reassessment of how women fi t into the larger workforce groups enter the workplace, busi- nesses need to make sure they’re keep- ing up with a diversifi ed workforce by representing those new groups within their leadership echelons. This, in turn, helps a business better connect with their customers – ultimately improving their bottom line. With regard to gender in the work- place, what’s really moving the needle – and quickly so – is when businesses are brave and decisive enough to be intentional with their recruitment and career development eff orts. In prac- tice, this means exclusively supporting women, from outreach and onboard- ing to growth. This is not to say that qualifi ed men will be neglected, but if balancing the gender ratio is a priority, businesses can go that extra mile to identify and nurture equally qualifi ed women to fi ll leading operational roles. Of course, the challenge is that the talent pool of women who are inter- ested in a particular industry could be smaller than the pool of men. So, how can companies overcome that and attract more women to their business? I believe this starts at the school level, by engaging more women within STEM fi elds, for example. Career opportunities Our 2022 Hilton recruitment survey showed that more than two-thirds (68 percent) of women in the UAE have considered a career in hospitality. To tap into that interest, we have forged several partnerships with regional universities and institutions – includ- ing the Dubai College of Tourism in the UAE and the Bunyan Training Institute in Saudi Arabia – to foster that natural growth and support women’s transi- tion into a chosen career fi eld. We also have dedicated programmes, like the Women in Leadership Virtual Mento- ring Programme, designed to enable and empower women to realise their professional ambitions. As women move out of higher education and begin their professional journeys, there needs to be a reassess- ment of how they fit into the larger workforce. Are they being uniquely catered to, or are they expected to fi t ing work-life balance. This is not only critical from a gender equity perspec- tive, but also for mental wellbeing. In hospitality, it’s possible to navigate around this. At Hilton, for example, Team Members are encouraged to work closely with their line mangers to align on a schedule that works best for them. For those looking to start or expand their family, we also off er extended fully paid maternity and paternity leave at 12 weeks and two weeks respectively, compared to the mandated 45 days and fi ve days in the UAE. By offering this flexibility, we’re able to attract a larger number of women to the hospitality industry, knowing that they’ll be able to thrive in and outside of their professional posi- tions. This has been proven across our Middle Eastern, African, and Turkish properties, where – as of January 2023 – more than a quarter of Team Members are female, with 30 percent representation at the Director and General Management level. Neverthe- less, we appreciate that we still have a way to go as we look towards the ulti- mate goal of achieving gender parity across all leadership levels in the coming years. Female equity As we pave the way to a future where women are proudly representing half of all employees – within hospitality, and other sectors around the world – we continue to take the necessary steps to put cracks in the glass ceiling, until one day, it shatters from all the pressure. To all the women, I want to encour- age you: don’t outsource your career development to a business, or to anybody else. It’s within you. Take ownership of what you want to do and how you want to lead your life. To businesses, keep the untapped pool of wealth, richness, and experi- ence that women off er at the forefront of your decision making. Make space for them, for their skillsets, and watch how they transform your business into a dynamic, interesting, and attractive environment – one that appeals to a diverse group of employees and customers alike. To all the women: Take ownership of what you want to do and how you want to lead your life | DIVERSITY into the same moulds as their male counterparts? A key factor to keep in mind is work-life balance; it’s about fl exibility. Not everyone has a family, but everyone has a life outside of work – and women may have a specifi c drive to spend more quality time outside of work than is traditional for men. We know that in order for a woman to truly thrive in the workplace, the entire ecosystem around her needs to evolve so that responsibilities – be it family or otherwise – are fairly distributed regardless of gender. However, this is not a change that will happen overnight. That is why in the interim, employers can play an integral role by allowing fl exibility and respect- $2TR The estimated GDP increase across MENA a larger female labour force could lead to, according to PwC44 Vol. 24/04, April 2023 Employers must tackle unconscious bias and advocate for gender equality While more women in the Gulf are heading to work than ever before, companies need to do more to tackle bias Equal opportunities Women bring unique perspectives that can help companies make better decisions and improve operational performance 82% The percentage of UAE’s women business leaders who believe there is a huge amount to do to build gender diversity on boards and management levels, according to KPMG DIVERSITY | region with an uphill struggle when it comes to achieving parity in lead- ership positions. The good news is that more women in our region than ever are heading out to work, gaining their independence, and building successful careers – even in senior roles. As a female CEO in the GCC and throughout my career jour- ney, I have seen good progress in the representation of women in the board- room and am proud to see females in leadership positions in Oman. I am also encouraged that in my sector - financial services - many companies actively support and empower women in all kinds of areas. From human resources to ICT, fi nance, and the board room, women are appearing in senior posts. The critical word here is ‘empowering’ – and I am pleased that at Al Ahlia, there is a concerted, strategic commitment to empowering women to unleash their full potential. But to build a corporate BY HANAA AL HINAI, CEO OF AL AHLIA INSURANCE T he 2022 MENA Women in Work survey by PwC shows that 40 percent of work- ing-age women in the Gulf Cooper- ation Council (GCC) are in employ- ment, compared with 64 percent across OECD countries. From a standing start, this presents the arabianbusiness.com 45 culture that genuinely succeeds in empowering women, there is a common hurdle: Unconscious bias. Within our region, hiring manag- ers and recruitment teams often still struggle to overcome their own personal and collective bias – as is explained in an analysis by McKinsey. It suggests that the pandemic may have amplifi ed biases against women, for example, when colleagues see young children playing in the back- ground on video calls, when co-work- ers consciously or unconsciously assume that women are less commit- ted to their jobs or when managers are evaluating women in performance reviews. In the age of remote working and Teams meetings, there is less opportunity for visibility on women’s performance. This means it can become easy for historic prejudices to return to the subconscious. Collectively, we must work to reverse unconscious bias and reaffi rm the positive contribution of a balanced and diverse workplace. Most of us realise (or should by now) that compa- nies with gender-diverse boardrooms achieve better outcomes. The evidence is overwhelming – and anybody doubting it can carry out a quick Google search to find the facts. According to the Corporate Gover- nance Institute, diverse boardrooms are good for culture and performance. The institute also proves that a higher level of gender diversity on FTSE350 boards positively correlates with better future fi nancial performance. But it’s about more than money. Women bring unique perspectives and experiences that can help compa- nies make better decisions, increase innovation, and improve operational and fi nancial performance. By exclud- ing women from leadership roles, companies are missing out on valuable resources that could help them succeed in today's global marketplace. To tackle this head-on, we must take a multi-faceted approach to overcome the challenges of repre- senting women in the boardroom. This includes addressing unconscious bias in recruitment, off ering fl exible we must stand up to champion the values of diversity and encourage others to join us. All of our colleagues must engage because engaging in the inclusivity debate is crucial to driving progress forward. Companies must be proac- tive about creating a diverse and inclusive workplace and hold them- selves accountable for progress. This includes setting diversity targets and regularly reporting on progress. It also means partnering with women's networks and supporting initiatives that promote gender equality. By taking a multi-faceted approach and embracing diversity, we can create a workplace that values and welcomes everyone. Now – as the world around us changes and through the post-pan- demic challenges we all face – It is time to work together to create a future where women have equal opportuni- ties to lead and succeed. It is time to break down unconscious bias, call it out when we see it, and create true equality in the workplace. The future is bright, and I am opti- mistic that when we work together, we will achieve true gender equality in the boardroom. Collectively, we must work to reverse unconscious bias and reaffi rm the positive contribution of a balanced and diverse workplace | DIVERSITY $2TR The rise in GDP across the MENA region through increased female employment, according to PwC Middle East Inclusivity Al Hinai says by taking a multi-faceted approach and embracing diversity, we can create a workplace that values and welcomes everyone work arrangements, providing mentorship and sponsorship oppor- tunities, and advocating for equal pay and opportunities. We must also create a culture of inclusivity that values and welcomes diverse perspectives. Of course, some might say, “we’ve heard all this before and little changes.” – which is why we must be vocal and visible. We must move beyond platitudes and backroom policies to become active advocates – 46 Vol. 24/04, April 2023 Why CISO burnout is a growing threat to organisations in Saudi Arabia Triumphing over challenges can cause burnout Online threat Ransomware headlines have largely increased cyber risk awareness among the C-Suite and driven strategy shifts in Saudi Arabia 50% The percentage of global CISOs who feel their organisation is unprepared to handle a cyber attack, according to Proofpoint’s 2022 Voice of the CISO Report TECHNOLOGY | There are multiple causes for this increasing pressure. One is that the role is ‘snowballing’ - many senior leaders started in IT security; which grew into information security; then into ‘cybersecurity’– each with a grow- ing scope and set of responsibilities. Another reason is the environment in which CISOs operate, which is driving a trend toward chaotic, unpredictable system behaviour. The result is a deli- cate, fragile society that is increasingly vulnerable to system failure. Cyber security concerns In Saudi Arabia, ransomware headlines have largely increased cyber risk awareness among the C-Suite and driven strategy shifts. Recent high-profile attacks have pushed ransomware to the top of the agenda for organisations, with Proofpoint’s 2022 Voice of the CISO report showing BY ANDREW ROSE, RESIDENT CISO, PROOFPOINT I n coff ee bars at security confer- ences and leadership dinners, one topic meets with almost universal agreement – the CISO role in the Saudi Arabia is increasingly tough. Despite pay and resource increases, this trend continues to accelerate, pushing secu- rity leaders to experience elevated levels of stress and burnout.arabianbusiness.com 47 Cyber security concerns When considering cyber risk, global CISOs listed signifi cant downtime, disruption to operations and impact on business valuation as top board concerns Mentality Rose says it is essential to run teams where doing the right thing is the only way to act that 40 percent of Saudi CISOs reveal- ing they had purchased cyber insur- ance and 32 percent focusing on prevention over detection and response strategies. Is it any wonder that many CISOs now talk about their desires to step away, and how an increasing number of staff have already made it clear that the ‘top job’ is not for them? Many believe they can tolerate the stress of the role; however, burnout in the form of chest pains or panic attacks is very real. Burnout happens suddenly when an often-inconsequential event becomes the step too far, causing a catastrophic breakdown. And stress can undermine our ethics. The option to overlook a data point or create a small misrepresenta- tion of a risk or action may be tempting when the outcome might prevent you suffering additional pressure and stress at the next board meeting. However, this can lead to a series of poor choices, each seemingly in align- ment with a company culture, but each also eating away at your personal integrity, with potentially catastrophic personal consequences. Coping with stress So how can CISOs triumph with both their mental health and ethics intact? It’s not simple. In fact, the genuine answer is annoyingly vague–simply put, everyone needs to fi nd their fi nd their own path as people have diff er- ent ways of coping. Coping mecha- nisms work much better when people are cognisant of them and can double down on those that are positive and minimise those that are negative. Consider creating boundaries and rules that both you and your team respect. One CISO insists on fi ve-minute breaks between meet- ings to step back, breath, and reset before the next challenge. Be selfi sh. Reserve time for yourself. CISOs also have a responsibility to ensure that the problem does not impact the people around them, like their staff . Even though organisational cyber preparedness has greatly improved, with Proofpoint’s Voice of the CISO report showing that increas- ing familiarity with the post-pan- demic work environment, has left CISOs feeling better equipped to deal with cyber threats, it’s never a good idea to get complacent. Creating a culture of caring for those around you by looking for signs of stress is a great start. Finally, recog- nise that the eff orts your staff put in are the tip of the spear. Behind each is a family willing to support and encour- age them, to forgive them for late nights and weekend work. In terms of ethics, it is essential to run teams where doing the right thing is the only way to act. We all have our own goals, objectives, and ambitions that drive our actions and shape our personality.However, in times of stress, it's easy to lose sight of these and focus merely on the problem in front of you. Write down your personal princi- ples and have them with you always as a touchtone to ground your actions. If your role is steering you to make deci- sions you recognise as ethically unsound, ask whether it is time to exit that role. Recognise that, as security leaders, we have a massive safety net, and that with your ethics and reputa- tion intact, you will always find employment. Without your ethics, however, that safety net withers away to dust. Creating a culture of caring for those around you by looking for signs of stress is a great start | TECHNOLOGY 56% The proportion of CISOs worldwide who consider human error to be their biggest cyber vulnerability, the 2022 Voice of the CISO Report revealed48 Vol. 24/04, April 2023 Regulation is key to crypto’s reputation and adoption: Dubai can lead the way The emirate is leapfrogging competitors in its forward-facing regulatory framework Fintech Dubai’s progressive policies towards crypto have attracted a large number of investors and entrepreneurs to the city $24,852 The value of 1 bitcoin as of 15 March 2023 TECHNOLOGY | Crypto has been on a rollercoaster ride over the last decade, with the value of coins and tokens skyrocket- ing and crashing – repeatedly. While some people have built significant wealth through investments, the industry has been plagued by fraud and regulatory scrutiny. The Russia- Ukraine war thrust the industry into a deep winter, in lockstep with many other asset classes, as people began to withdraw, liquidise, and doubt projects and tokens. However, the winter seems to have been thawing over the past quarter. There is hope again for the industry’s reputation and Dubai seems to be a driving force for optimism. With its progressive policies and advanced infrastructure, the emirate can help lead the way. Dubai has established itself as a hub of innovation and prog- ress, with its forward-thinking leaders embracing innovative technologies and initiatives. The city’s government has taken a proactive approach towards regulating cryptocurrencies, recognis- ing their potential benefits for the economy while also implementing measures to prevent misuse. As of the February 7, 2023, the Virtual Asset Regulatory Authority (VARA) released its much-anticipated rulebooks for the regulation of virtual assets in Dubai (excluding its fi nancial free zone, the Dubai International Financial Centre (DIFC)). (Source for reference) In addi- tion, the Dubai Multi Commodities Centre (DMCC) has just teamed up with a web3 investment fi rm to off er a new $5m growth platform for block- chain businesses (2023), established a dedicated Crypto Centre in 2020 and launched a crypto trading platform, becoming the world’s first govern- ment-regulated exchange to offer cryptocurrency trading in 2019. Leading crypto hub Dubai’s progressive policies towards crypto have attracted a large number of investors and entrepreneurs to the city. Many cryptocurrency fi rms have set up shop in Dubai, with the DMCC alone registering over 500 blockchain and crypto-related companies. This BY BILL QIAN, CHAIRMAN OF CYPHER CAPITAL T he reputation of the crypto ecosystem is inextricably tied to institutional regulation and Dubai seems to be leapfrogging through progressive policies to protect investors and incentives for entrepreneurs. arabianbusiness.com 49 industry recognition and support builds momentum and has helped create a vibrant ecosystem, driving innovation and investment. Dubai’s reputation as a global fi nan- cial hub can also help to enhance the legitimacy of cryptocurrencies – the strategic location between Asia and Europe can make it an attractive desti- nation for investors looking to access new markets. The city’s established banking sector and fi nancial institutions can provide the necessary infrastructure for crypto trading and investments. However, for the crypto industry to recover its reputation, there needs to be a concerted eff ort to address the issues that have plagued it in the past. One of the major challenges facing the industry is the lack of regulation and oversight. This has led to numerous scams and fraudulent activities that have eroded public trust in cryptocurrencies. Dubai’s government can play a crucial role in addressing this issue by implementing stricter regulations and oversight mechanisms. By doing so, the city can help to weed out bad actors and promote legitimate and trust- worthy cryptocurrency projects. The government of Dubai has already taken many steps in the right direction. The prime example of this was the launch of the Dubai Blockchain Strategy, which aims to make Dubai the world’s fi rst blockchain-powered city by 2024. The strategy focuses on using block- chain technology to improve govern- ment effi ciency, promote innovation, and create a more secure and trans- parent business environment. Challenges facing the crypto space Another issue facing the crypto indus- try is the lack of mainstream adoption. While cryptocurrencies have gained popularity in recent years, they are still seen as a niche – and often risk - asset class by many. This can be attributed to the complexity of the technology and the lack of user-friendly platforms for buying and using cryptocurrencies. Dubai’s advanced infrastructure and tech-savvy population can help to address this issue. The city’s extensive network of smart devices and IoT tech- reputation. Dubai can help to change this by promoting education about cryptocurrencies. There are incredible educational programmes that teach people about the benefi ts of cryptocur- rencies and how they work such as the Knowledge Academy’s Bitcoin And Cryptocurrency Course and the Professional Diploma in Blockchain Fundamentals & Development at CED Eff ective education could help dispel some of the myths and misconceptions and also help users and investors make more informed decisions. Dubai has already heavily invested in encouraging the development of blockchain and cryptocurrency-fo- cused tertiary education. This will create a new generation of experts who understand cryptocurrencies and can help to develop innovative solutions that will benefi t the industry. The crypto ecosystem is now at an infl ection point of mainstream adoption versus regulation. Dubai is in the right position to take the industry forward – through ongoing support and regula- tion. We are heartened to see the next decade unfold and see the reputation of the industry recovered. Dubai’s government can play a crucial role in addressing this issue by implementing stricter regulations and oversight mechanisms | TECHNOLOGY Digital asset Qian believes the crypto ecosystem is now at an infl ection point of mainstream adoption versus regulation nology can be leveraged to create user- friendly platforms for buying, selling, and using cryptocurrencies. The lack of transparency in the crypto industry has been noted as being concerning by many investors. This has made it easy for scammers and fraudsters to operate within the industry, leading to a loss of confi dence in cryptocurrencies. Dubai can help change this by promoting and enforc- ing transparency in the industry through a robust regulatory framework for cryptocurrencies. This would help weed out bad actors in the industry and enhance trust. Another crucial step towards recovery is education. Most people still do not understand cryptocurrencies, which has contributed to their negative Next >