Binance stepped into the final leg of its annual community event, Binance Blockchain Week, on Wednesday. The theme for this year’s event is ‘Momentum’, through which the crypto exchange aims to acknowledge the continuous growth of Web3 sector over the last year despite regulatory, legal and technical challenges globally. The Binance senior leadership, including CEO Richard Teng and Co-Founder Ye Hi, were in attendance at the event, interacting with what the exchange claimed was a crowd of over four thousand people at the Coca Cola Arena in Dubai.

HE Khalfan Belhoul, the CEO of the Dubai Future Foundation, joined Teng on the stage on Wednesday to talk about an array of topics, including regulatory advancements in the crypto space, stablecoins, asset tokenisation and the potential use cases of blockchain and Web3 technologies across sectors.

Multiple panel discussions have been slated for the day, which will focus on topics including investment dynamics related to crypto, unique market conditions, and venture capital firms’ increasing interest in exploring early-stage crypto startups and projects.

In the backdrop of this event, Binance has announced the launch of ‘Binance Wealth’ — a new service that caters to the special needs of high-net-worth individuals (HNIs). In addition, the exchange has appointed Jeff Li as its new vice president of product. Li has been tasked with overseeing the expansion of Binance’s suite of products in the coming months. Prior to joining Binance, Li served as the global head of finance for TikTok.

Web3 players including Pepe Coin, Iota, Solana, and The Ton Foundation, among others, have set up booths at the Coca Cola Arena, engaging with Web3 enthusiasts that have flown to Dubai from different parts of the world.

Over the next two days, crypto industry stakeholders will be diving deeper into the challenges and opportunities the sector faces at the moment. The panels that are part of the event are also expected to touch upon the subjects of the predicted transition of Web2 technologies to Web3, the integration of Artificial Intelligence (AI) into Web3, as well as the future of institutional investors in crypto despite the volatile element of virtual digital assets (VDAs).

Blockchain trends that have emerged in recent years, required upgrades to the existing Web3 infrastructure, and the increasing importance of compliance needs for Web3 are among other topics that are slated to be addressed by the panelists.

The afternoon sessions delved into the challenges and opportunities in the crypto space. Topics included the reluctance of Web2 companies to adopt Web3 technologies, the health of the institutional market, and the potential of generative AI in Web3.

Elliptic founder Tom Robinson, Sandbox co-founder Sébastien Borget and Polygon Labs’ Sandeep Nailwal are set to discuss ways to improve the end user experience for Web3 protocols as part of their scheduled sessions.

Last year, Binance had held its annual blockchain conference in Istanbul, Turkey.