March 10, 2023

Dubai Chamber of Digital Economy Holds Workshop on Crypto, Metaverse

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The Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, held a workshop on metaverse and crypto with the participation of top executives, business leaders, and entrepreneurs in the two domains, WAM News Agency reported

The workshop was attended by Vice Chairman of the Dubai Chamber of Digital Economy Ahmad bin Byat and board members of Dubai Chamber of Digital Economy Hind Seddiqi, Fadi Ghandour, and Dany Farha.

The workshop tackled ideation, opportunities, challenges, and ways to drive progress in the metaverse and crypto fields.

During the workshop, Bin Byat said: “Dubai has a healthy and vibrant digital ecosystem welcoming digital companies across various economic sectors, and the adoption of the metaverse is rapidly growing.”

“The workshop on the metaverse and crypto industry is part of a series of digital industry workshops we continue to host. It is a great platform for connecting like-minded leaders to discover the latest developments and providing a space for meaningful discussions.”

Dubai was ranked the world’s second-largest crypto hub following London, a recent research showed. 

Recap, a crypto tax software and crypto portfolio tracker, researched the most cryptocurrency-ready cities in the world. The index comprises eight criteria, such as crypto-specific events, crypto meet-ups, the number of crypto workers and companies, R&D spending as a percentage of GDP, and the quality of life score in each city.

Dubai’s place pushed it to be the pioneering spot for cryptocurrency and blockchain technology in the Middle East in light of issuing several laws on the regulation and operation of crypto, the London-based firm said. 

Crypto investors saw Dubai as a desirable location for its 0% tax policy, high quality of life, and a large number of crypto-based companies, which reached 772. 

Dubai is now the home of more than 500 crypto firms, the biggest gathering of crypto and blockchain companies in the region, according to data from the Dubai Multi Commodities Centre (DMCC).

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