Yesterday, the Crapeo world was the digital currencies surrounded by suspicion and uncertainty, as it was seen as an electronic adventure that adventurers have fought, not institutions or states, and instead of being an organized sector described with the illusion and the bubble that might explode at any moment, and today we stand in front of a completely different reality, the reality made by major transformations in financial policies, led by the United States that was entered after the arrival of President Donald Trump Legislation that made digital currencies part of the strategic reserve of the cabinet.
The matter did not stop here, as the major international companies and sovereign investment funds have entered strongly to this market, and it is the most prominent player in controlling the rhythm of the movement of digital currencies, because the market today is managed by huge financial institutions that have advanced financial management tools, so the balance of power changes radically, so whoever owns millions today is just a spectator in front of those who have billions.
Perhaps the most prominent examples in this context are what the giant Black Rock company that launched the ETF Fund for Bitcoin, which gave institutional legitimacy to this market, as well as entering sovereign funds such as the wealth fund in Singapore and Norway in investments related to blockchain and digital currencies, and this indicates that the market has been managed with giant knowledge and not individual concern.
In our region, the UAE emerged as the leading, as it succeeded in combining the goals of ambitious adoption and clear legislation through bodies such as the Virtual Assets Regulatory Authority and free investment ranges such as AdGM and DIFC, and opened the doors of the digital economy in areas such as real estate and aviation where it is possible to pay part of the value of real estate or reserve flights in digital currencies, which made it an attractive regional center in this field.
As for the Kingdom of Saudi Arabia, it has taken qualitative steps in this field by exploring blockchain applications and institutional currencies, as it cooperated with the UAE in the “transit” project to develop a joint central central currency to settle the border payments, a project that is one of the leading experiences in the world in the field of digital currencies of central banks, and reflects the future vision of the Kingdom in enhancing its position as a regional financial center capable of keeping pace with global transformations.
Here, the legitimate question arises whether we are satisfied with the Kingdom of Bahrain with monitoring and follow -up, or is it time for retirement funds, generations reserves and insurance surplus funds to join this scene. Many countries have been silently entered this field years ago when the prices were in their beginnings and today reap the fruits of their distant vision.
I am not a financial or economic expert, except that I have been following this world for years, and I feel the size of the transformation in it, and I say frankly that the Kingdom of Bahrain needs to have its position in this scene not only as a financial investment, but as a new educational and professional field, we need academic specializations that prepare our youth to work in blockchain techniques and financial artificial intelligence and in need of institutions that manage, train and monitor to ensure guarantee Our entry into this market will not be just an adventure but a national economic strategy.
Digital currencies are no longer an illusion, but rather a reality that imposes itself, and we must reserve our place in the first rows so that we can be part of the future industry, not just spectators.
