Blockchain technology is quickly gaining traction in the Untied Arab Emirates, with new innovative efforts are being launched to further bridge the gap between traditional finance and cryptocurrencies. Crypto Price Tracker is one such project, as it has the backing of prominent Emirati families.
Officials in the UAE are paying close attention to developments affecting the blockchain industry – not only is this technology of great interest from a transactional point of view, but it can also serve many different purposes, and streamlining existing frameworks, services, and products will be key points of focus for the years to come.
Solidifying this approach is the launch of the Emirates Blockchain Strategy 2021. This venture aims to leverage the potential of blockchain technology and transform government transactions into more efficient solutions. In conjunction, there is also the Dubai Blockchain Strategy, which is a much broader plan, as the goal is to ensure Dubai becomes the first city powered by only blockchain technology. Additionally, the local government hopes to bring more happiness to its residents through this approach.
To further illustrate the focus on blockchain in the UAE, its Roads and Transport authority has begun developing a vehicle lifecycle management system. Through this platform, manufacturers, dealers, insurance companies, and garages will be able to view transparent records of any vehicle’s history.
Providing transparency is crucial, yet there are other benefits to explore as well; a blockchain-based approach allows for faster and cheaper services, while also boosting the overall trust in vehicles. Data stored on the blockchain will include the current ownership, accident history, and all previous sales of the vehicle.
Kindling an interest in blockchain technology is the main order of focus for the Emirati governments – projects revolving around cryptocurrency are also in development in the region. One such project is the Crypto Price Index. It takes an innovative approach to decentralized finance – or DeFi – to provide unprecedented access to different cryptocurrency markets.
Crypto Price Index spans an index of the top 200 cryptocurrencies on the market today. Through this platform, users will be able to access different wealth generating opportunities. More importantly, it will bring stability to the otherwise volatile nature of crypto markets vVia its suite of tokens, where the value of investments are not linked to just one asset, but to the average of multiple tokens combined.
It is this novel approach that earned the attention and collaboration by prominent Emirati families. Given the vast business and financial expertise these families can bring to the table, their involvement is a major boon for the Crypto Price Index project.
Individuals who want to take part in the Crypto Price Index project can obtain CPI tokens via HotBit. Tokens are sold at an initial price of $5, and will give holders a voice in determining the future of the project as a whole. This includes voting on which tokens can be included in the overall CPI Index.
Owning CPI tokens also gives holders direct access to the minting of CPIX tokens. These latter assets allow for the monitoring of custom cryptocurrency baskets.
Click here to join the financial revolution, and grab your CPI today
Bitwise Asset Management has just made its first move into tokenized funds, and it comes…
Binance just made a move that blurs the line between crypto exchange and traditional brokerage…
NEAR Protocol has had a month that most blockchain projects would stretch across an entire…
Something is becoming increasingly clear about Chainlink, the integrations are not slowing down. The protocol…
Blockchain investigator ZachXBT has flagged a major stablecoin freeze that is sending shockwaves through the…
From a primarily interest rate swap niche product, Exponent has developed into an onchain capital…