Various countries are looking to embrace cryptocurrencies. Dubai is one of those regions, although it appears the focus will shift to blockchain first and foremost.
It is not the first time a country creates its own ‘Crypto Valley“.
A new Crypto Valley in Dubai
This concept has been popularized by Switzerland, in the Zug region.
Now Dubai is looking to do the exact same.
Together with the DMCC, the goal is to create an ecosystem for cryptographic, blockchain, and distributed ledger technologies.
Fostering growth and collaboration in all of these industries is crucial to achieve mass adoption .
As part of the DMCC Crypto Valley, there will be an incubator for startups, co-working facilities, and much more.
As one would expect, there will also be a focus on training and education, as those aspects are by far the most crucial right now.
The UAE region has previously expressed its growing interest in blockchain technology.
As such, this new venture makes a lot of sense from a research perspective.
There are also rumors as to how several key companies might be making their way to Dubai as well.
Those would include Tezos, Inacta, Lykke, and several others.
It appears that the future is bright for blockchain technology.