Copy link
Increase text size
Decrease text size
Link copied

Dubai Multi Commodities Center to establish Crypto Valley to boost blockchain ecosystem

Image: DMCC

Mon, 27 Jan 2020, 07:22 am UTC

The Dubai Multi Commodities Center (DMCC), a government entity established in 2002 to enhance commodity trade flows through Dubai, has announced its plans to launch ‘Crypto Valley’ in Dubai, the United Arab Emirates (UAE).

In its press release, DMCC said that the planned Crypto Valley will be the world's largest ecosystem for cryptographic, blockchain and distributed ledger technologies. It will be established in partnership with CV VC and its subsidiary CV Labs.

On the sidelines of the World Economic Forum in Davos, DMCC has signed an agreement with CV VC and CV Labs to develop an ecosystem in Jumeirah Lakes Towers (JLT), DMCC's business district, where over 17,000 companies are currently registered.

"DMCC is delighted to sign this agreement with CV VC, and launch the Crypto Valley in Dubai, at the very heart of Dubai's leading business district," said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. "The launch of the Crypto Valley in DMCC will enhance the city's dynamic business environment, and support the wider strategy of the UAE Government to attract the innovators, entrepreneurs and pioneers that will shape the future economy,"

The 'DMCC Crypto Valley' will be designed to foster growth, collaboration and integrity across the global blockchain economy. It will offer various services including incubation for early-stage start-ups, co-working facilities, innovation services for corporate clients, blockchain and entrepreneurship training, education, events, mentoring and funding.

Under the agreement, the partners will also collaborate and develop a DMCC Blockchain Strategy, which will be aligned with the Emirates Blockchain Strategy 2021, and support the Dubai Blockchain Strategy launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

"In our opinion, the competence from Crypto Valley based companies will support the ambitious goals and strategy to use blockchain in Dubai and beyond! On the other side the capital from the MENA region could help to build even more successful projects and startups and foster the settlement of new blockchain focused companies in the UAE," said Ralf Glabischnig, Founder of CV VC and CV Labs.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $54,935.00 (-11.09%)
  • Ethereum (eth) $2,129.48 (-12.44%)
  • Binance Coin (bnb) $455.89 (-14.61%)
  • XRP (xrp) $1.28 (-22.44%)
  • Tether (usdt) $1.00 (+0.54%)
  • Bitcoin (btc) $54,935.00 (-11.09%)
Apr 18, 2021 (Sunday)
08:50
BTC Drops by 1.02% Within 5 Mins, Marking 55,377.46 USDT
08:05
BTC Drops by 1.04% Within 5 Mins, Marking 55,899.53 USDT
03:34
BTC Drops by 6.05% Within 5 Mins, Marking 53,006.62 USDT
03:23
BTC Drops by 6.19% Within 5 Mins, Marking 54,498.5 USDT
03:20
BTC Drops by 1.75% Within 5 Mins, Marking 57,373.57 USDT
Apr 16, 2021 (Friday)
10:00
DOGE Tops List Of Crypto Net Inflow With $1.69 Bln In Past 18 Hours
06:04
BTC Drops by 1.02% Within 5 Mins, Marking 61,190.87 USDT
04:37
BTC Drops by 1.08% Within 5 Mins, Marking 61,928 USDT
03:33
Class ZZ Deployed Cross-Chain Contracts On ETH, HECO, And BSC
02:30
Crypto Market Sentiment On Apr 16: Market In "Extreme Greed"
02:00
DOGE Tops List Of Crypto Net Inflow With $884.07 Mln In Past 10 Hours
01:37
Class ZZ Mainnet To Undergo Maui Fork
01:36
Data Summary Of Boboo.com's Perpetual Contract: April 16
Apr 15, 2021 (Thursday)
10:00
DOGE Tops List Of Crypto Net Outflow With $345.17 Mln In Past 18 Hours
07:43
TriumphX Signs MOU For Content Supply With Inamu To Launch Webtoon NFT Platform
02:30
Crypto Market Sentiment On Apr 15: Market In "Extreme Greed"
02:00
BTC Tops List Of Crypto Net Outflow With $419.77 Mln In Past 10 Hours
01:33
Data Summary Of Boboo.com's Perpetual Contract: April 15
00:00
BTC Surges by 1.05% Within 5 Mins, Marking 63,285.55 USDT
Apr 14, 2021 (Wednesday)
17:38
BTC Drops by 1.37% Within 5 Mins, Marking 62,883.9 USDT
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft