The Peer-to-Peer Financial Systems Workshop (P2PFISY) held on 16-17th October 2024 in Dubai brought together leading experts, regulators, academics, innovators and enthusiasts to discuss the latest trends in decentralised finance. 

Among the key contributors were Dr Paolo Tasca, UK CBT Chairman and co-founder of DLT Science Foundation and Exponential Science, Dr Francesco Pierangeli, Deputy Director of the UK CBT, and Nikhil Vadgama, Director of UK CBT and co-founder of DLT Science Foundation and Exponential Science.

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Dr Tasca, our Chairman and founder of the P2PFISY Workshop, conducted the welcome address and opening remarks each day, setting the stage for the discussion ahead. Paolo also delivered the closing remarks on both days, summarising the key takeaways from the event and thanking all for their contributions. 

Dr Pierangeli played a key role as the Master of Ceremonies, leading the stage throughout the event, and ensuring smooth transitions between panel discussion and research paper presentations.

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Reflecting on the workshop’s success, he stated:

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"Thank you to all the incredible speakers and our generous host, VARA, for making the Peer-to-Peer Financial Systems Workshop a huge success. Dubai is truly the ideal place to discuss digital assets. The welcoming attitude of local authorities and their growth mindset is proving successful in attracting global talent, which is converging in the UAE to build and innovate."

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Nikhil Vadgama, who took over as the Master of Ceremonies during the last part of the event, also gave a presentation on Financial Consumer Protection in the Face of Generative AI. In his talk, Vadgama highlighted the risks posed by AI in facilitating more sophisticated scams, including:

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• Pig butchering scams: Social engineering used to form relationships with victims, convincing them to invest or transfer money.
• Inheritance scams: Fraudsters exploit social engineering techniques to claim the identities of relatives that have passed away.
• Humanitarian relief scams: Stealing personal information under the disguise of seeking donations for a good cause.
• Triangulation fraud: Creating fake storefronts, product images, and reviews to deceive unsuspecting customers.
• Telephone scams: Voice cloning to mimic a colleague’s voice or a distressed family member.
• Email phishing: Well-crafted emails, potentially personalised using social media data, target unsuspecting recipients.

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The event marked an important milestone in the ongoing discussion about the future of financial systems, with Dubai's vibrant atmosphere fostering meaningful conversations and collaborative opportunities.

Stay tuned for more updates from the UK CBT and our ongoing efforts to advance the understanding of blockchain and AI-driven financial technologies.