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Zeebu Founder And CEO Raj Brahmbhatt On The Importance Of Building True Utility Tokens We feature some of the regional and international fintech industry experts, startups, and investors who attended the Dubai Fintech Summit held in Dubai in May 2023.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Launched under the patronage of H.H. Sheikh Maktoum bin Mohammed Al Maktoum, Deputy Prime Minister and Minister of Finance of the UAE, and Deputy Ruler of Dubai, the inaugural edition of the Dubai Fintech Summit (DFS) that ran from May 8-9, 2023, organized by UAE-based onshore financial hub Dubai International Financial Center (DIFC), managed to congregate regional and international fintech industry experts, startups, and investors in one place to discuss the future of financial technology.

Speaking with Entrepreneur Middle East at the DFS, Raj Brahmbhatt, founder and CEO of Zeebu, shared with us his thoughts on tokens in the blockchain space. As the entrepreneur behind Zeebu, a loyalty utility token catering to the telecom industry, Brahmbhatt opined that almost 95% of tokens have no true utility. "They are either too focused on speculation or they are trying to create an industry," he said. "That doesn't work, because as of now, the market has too much potential for only the application and not the creation of an industry."

Check out our video to hear more of what Brahmbhatt had to say.

Related: DIFC Unveils Global Venture Studio Launchpad Exclusively Focused On Ubiquitous Finance And Digital Asset Technologies

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