While the International Monetary Fund (IMF) expresses concerns over countries making Bitcoin (BTC) legal tender, cities like Dubai are paving ways to stay in business. The thing about innovative opportunities is the fact that while a circle of individuals stay skeptical, some lay confused, and some stand against, others with more insight, knowledge and intelligence will grab those opportunities and build on it. Businesses have never seen such productive work space to capitalize on, we've watched the industry raise small scale businesses to multimillion industries, specifically select personales have turned millionaires as a result of cryptocurrencies and it's lucrative set ups. Making money has never been easy, still really isn't, but the path through changing a man's financial status for the better isn't quite stiff anymore.
The more we look at it, the more we'd understand that there are authorities above authorities. While everyone keeps blabbing about the risks involved, a lot more people are scared of missing out, but that's actually a merit to those already in the system. Sooner or later, major sectors and low key investors will FOMO in and already existing hodlers will see increases on their investments. That said, Dubai has been doing the needful to bring the residents of the center of business closer to crypto and blockchain technology. The simplicity, scalability and costless nature of the space is its first considerable merits, then coupled with its reproductive designs which we observe from yield farmings, all of this makes crypto a much more workable solution.
Three months back, Dubai Airport Free Zone moved into function, a means of which encouraged more crypto adoption in the city. The Dubai Airport Free Zone Authority (DAFZA) began the support of trading cryptocurrencies after signing an agreement with the Securities and Commodities Authority (SCA).
Reports indicate that this support also includes the listing, issuance, offering, and regulation of crypto assets. The agreement was signed by Assistant Director-General of DAFZZA, Amna Lootah, and acting Chief Executive Officer of CSA, Maryam Al Suwaidi. Companies that trade on cryptocurrencies were expected, as the deal was made, to receive their license within the Dubai Airport Free Zone.
Today, Bittrex Global’s chief executive officer is hailing Dubai as a well-positioned beneficiary of the growing cryptocurrency market in the Middle East, as Dubai’s regulators are pushing toward an acceptance of blockchain-based technologies.
According to the Bittrex CEO, Stephen Stonberg, the UAE and Dubai are becoming great places to “set up your token project, or run a cryptocurrency exchange.”reference
Notwithstanding the regulations, the acceptance and efforts made to expose crypto and blockchain to the city of businesses, obviously places the city in a better position compared to counties exposing themselves to major economic crackdowns as they impose bans on cryptocurrency activities. Dubai would be seeing a lot of immigrants, especially prior to the big event, Expo Dubai 2021. We all know Dubai, it's kinda like the center of excellence in business, and the move is obviously made to help them maintain their position. Dubai Expo 2021 is in 43 days, the event would likely bring new investors to the markets!
With major speakers on invites, namely Julian Sawyer CEO of BitStamp, Ajit Tripathi Head of Institutional Business of Aave, Bryan Benson Managing Director of Binance, Anthony Lesoismier-Geniaux CSO & co-founder of Swissborg, Mohammad Raafi Hossa in Co-Founder & CEO of Fasset, Igneus Terrenus Head of Communications of ByBit, Andrey Khovratov CEO of Ugpay Group AG, Simone Mazzuca CEO - Director of Wallex Bank, Manoj Kumar Chief Marketing officer of CGB Coin, Anna Tutova CEO of Coinstelegram, Nirmal Ranga CRO of ZebPay, Avinash Shekhar Co-CEO of ZebPay, Dr Jane Thomason as Moderator, Ben Todar CEO & Co-founder of MoonNation, Alexander Gambon Chief Brand Officer of ELONGATE, Kayhan kirmizigul Founder of Mulierum Project, Arthur Azizov CEO of B2Broker, Evgeniya Mykuliak COO of B2Broker, Benjamin Hermann Head of Communications of MEATEC, Hasan Aziz Chief Operations Officer of ELONGATE, Leslie Ntifo-Siaw Business Development Manager of Garantex Global Exchange and many more not listed here. It's going to be quite an event for the closing year, probably going to be one of the bullish periods of the year as more knowledge about crypto and blockchain is being dispensed to the public. More information here, get ready folks…
