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Digital tokens could transform the economies of the Middle East and North Africa – if the governance keeps up


Digital tokens can represent shares of art, real estate or land on a blockchain network. The integration of digital assets into economic structures could tackle the financing challenges faced by SMEs and provide a more standardized and accessible approach to funding.

But those efforts need to be complemented by upgraded regulations or new ones to enable the transparent and efficient use of digital tokens by investors and SMEs.

If the region gets it right, it could accelerate its economic integration , which is estimated to add $230 billion per year to regional GDP. It would also enhance resilience and digital readiness for the post-pandemic future.

The Covid-19 pandemic has been a disruptor like no other and its economic and social consequences are expected to outlast the health emergency.

As reported by the IMF , the Middle East and North Africa GDP contracted by 3.1% in 2020, putting the region’s already fragile resilience under pressure. Governments have taken unprecedented fiscal efforts to protect their private sectors and to mitigate the consequences of the pandemic.

Some examples are the $27 billion stimulus plan that the United Arab Emirates has deployed to facilitate lending, the $61 billion support package targeting the private sector or […]

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