The DMCC in Dubai has jumped on the NFT and Blockchain bandwagon by launching a specialist Crypto Centre.
The DMCC is the Dubai Multi Commodities Centre and its new space is dedicated solely to online business. Including cryptocurrencies, blockchain technology, and NFTs, nonfungible tokens which effectively let you purchase something online.
In other words: it’s an entire division dedicated to the future!
The centre will deal with all manner of crypto businesses. From blockchain platforms to those that offer, issue, list, and trade crypto assets.
Dubai is betting big on blockchain technology, essentially a more secure and open way of doing business online. Blockchain is also the technology that powers digital currencies including Bitcoin.
Dubai aims to have half of all ‘government transactions on a blockchain platform’ in the near future to ‘cement the UAE’s status as one of the world’s most advanced economies.’
And the Crypto Centre is a great start.
“The DMCC Crypto Centre will be a home to a comprehensive system designed for innovators, entrepreneurs and pioneers in the fields of crypto and blockchain technology … it will support all types of crypto businesses,” said Thani Al Zeyoudi, Minister of State for Foreign Trade.
“Blockchain technology can help transform and optimise business processes … [add] greater transparency, enhanced security, increased efficiency, and speed and reduce costs in business transactions,” he said.