- Dubai has announced a “Cryptocurrency Tower” that is scheduled to be completed by 2027.
- The national capital is showing consistent optimism towards widespread adoption of cryptocurrencies.
Last day saw an interesting turn of events in the cryptocurrency sector. With the rapid change in US administration, Bitcoin has regained the $98K level to position itself for the next rally. Meanwhile, the regulatory landscape has also seen activity, with the SEC’s recent move against Ripple.
Meanwhile, in the area of growing cryptocurrency adoption, Dubai has taken the lead with its latest announcement. The cryptocurrency capital announced the construction of a monument dedicated to this sector – the “Crypto Tower”.
Dubai Multi Commodities Center (Dubai Multi Commodities Centre) announced that the infrastructure of the Crypto Tower will be completed by 2027. The 17-storey building is scheduled to be built in Jumeirah Lakes Towers (JLT). This has attracted significant interest within the sector and reaffirmed the city’s position as the cryptocurrency capital of the Middle East.
Second, according to reports, the cryptocurrency tower plan may include an NFT gallery and other cutting-edge technology features. This is an interest in catering to the growing number of crypto and blockchain based businesses in Dubai.
How does Dubai plan to promote the cryptocurrency tower?
The DMCC CEO and other senior officials discussed the various technologies that the teacher plans to incorporate. The CEO of DMCC stated that it will work to bridge the gaps between Blockchain, Web3 and real estate. He stated that this will be a symbol of Dubai’s leading position in the innovation centre.
Furthermore, another official, Brenda Stratton, REIT for development The communications director stated that it was an integration of blockchain technology and real-world construction. She also stated that by doing so, they are setting a new standard for transparency in the cryptocurrency sector.
The Middle East was one of the first countries to take a positive approach towards cryptocurrencies and digital assets. Several leading companies including BitOasis and HashKey have expanded their community to the region.
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