In an attempt to reinforce the growing impulse of the projects in the chain in the EAU, the Dubai Multi Commodities Center (DMCC) and the development of Reit raised curtains in the 15th JanuaryIn a new building to demonstrate the practical use cases of blockchain technology.
The 17 -story building will support the DMCC Defi and Web3 Business Expansion community. This adds to the existing headquarters of the DMCC Crypto Center in Uptown Tower. The objective is to provide additional advanced space attended to innovation, collaboration and business growth.
“The launch of Crypto Tower is a demonstration of the real world of the future of web3, where blockchain technology guarantees transparency and property, as well as a declaration of our intention as we continue to consolidate Dubai’s position as the main innovation center of the world. ”Said Ahmed Bin Sulayem, Executive President and CEO of DMCC.
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Blockchain remodeling Dubai’s horizon
The Crypto tower will incorporate Blockchain technology to rationalize the interactions of tenants and transactions with a vote in the chain, shared resources, intelligent contracts and automated services, encourage trust and transparency thus reducing the administrative load.
The tower will have a space for interior events of 10,000 square feet, an outdoor area of 3,500 square feet for blockchain events and an exclusive 30,000 square feet crypt club on the first three floors for networking and collaboration.
It will also include an NFT art gallery, a gold bullion store, an exotic car dealership and a safe 5,000 square feet vault for gold objects such as gold, effective and cold wallets. This project fuses technology, finance and lifestyle, with the aim of creating a first level center for the global cryptographic community.
The developers expect to operationalize the building shortly after completing it before the first quarter of 2027.
The EAU continue to defend projects in the chain.
It is projected that the EAU market will grow at an annual compound rate of around 42% from 2025 to 2030. Distributed accounting technology has continued to be a key approach, which leads to the launch of several government initiatives, including the strategy of Blockchain 2021 of Emirates, the Dubai Blockchain strategy, and the establishment of the Blockchain Global Council.
DMCC announces the launch of Crypto Tower, a new 17 -story development in #JLTin association with Reit Development. Designed to support #DMCCIt is the rapidly growing community of #Blockchain, #Defiand #Web3 Companies, the tower has 150,000 square feet of leased space that includes … pic.twitter.com/ravg05i4d5
– DMCC Crypto Center (@DMCCCrypto) January 15, 2025
These initiatives are aimed foreigners is further promoting market growth.
Growth and challenges opportunities
Innovations such as digital payments, intelligent contracts and Defi are promoting growth in the EAU industry in the chain. Banks, financial institutions and Fintech companies are integrating blockchain for payments, agreements and commercial financing, reducing the risk of fraud and reducing the costs and transaction times. This encourages collaboration between companies and companies Fintech for various financial solutions.
However, this technology comes with important implementation costs, promoted by infrastructure, development, regulatory compliance, technical personnel and energy intensive mining processes. These high costs can restrict adoption, particularly for limited budgets such as SMEs.
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Discharge of responsibility
Crypto is a class of high -risk assets. This article is provided for informative purposes and does not constitute investment advice. You could lose all your capital.
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