During his conference at the Rotary Club Beirut cedars, Nicolas Chikhani, former CEO of the Arab Bank Switzerland, has highlighted that launching a crypto-currency in Lebanon would be a first mover advantage for the country in this field, a reference for the GCC and a strong support for its economy.
During his presentation M. Chikhani has showed the different crypto-currencies currently available and explained that the economy is now moving toward a “Stable Coin” which is a Crypto-currency that is backed by an asset or a commodity (Real Estate, Gold, Art…) that reduces its volatility and that gives to it a real value for commercial transactions which is not only base on the buy and sell market needs.
Chikhani has also detailed the role of the Blockchain in the development of such a new economy, and how Banks, Insurances and Trade companies started adopting such a technology in readiness for the 4th industrial revolution.
At the end of his conference, and to show the disruptive power of such a technology M. Chikhani has made a demo on a virtual crypto-currency transfer between Switzerland and Lebanon without passing through the classical banking system.
Chikhani received a certificate of appreciation from the Rotary Club as a recognition for his involvement in this new financial field, and as a thank you gesture for his presentation.