What Dubai offers to the Crypto economy
Dubai may be a little late in joining the crypto revolution but it has its own style of catching up with the developments in the crypto world. Dubai is spending tremendously on innovation and Blockchain technology initiatives to emerge as a global leader for international trade. After Dubai declared crypto currencies as a form of commodity, The Dubai Multi Commodity centre is available for businesses to use its free zone for firms dealing in cryptocurrencies.
Real estate sector in Dubai is a large contributor to the regions GDP and the sale of apartments priced in Bitcoins at Science Park, Dubai, in 2017, set a new trend in the infrastructure and housing sector. One of the largest real estate groups in Dubai, MAG Lifestyle Development is not only accepting payments in cryptocurrencies for its ongoing product but also offering a 5 percent discount to the buyers paying in digital currencies.
The crown prince of Dubai has put his trust in BlockChain technology and regional banks and financial institutions are in process to adopt with the changing market dynamics. Dubai Land has confirmed that it is working on BlockChain initiatives to record local property details on a BlockChain.
The rise of Bitcoin trading platforms in the region and the traction in the digital currency market in Dubai is no secret. Crypto trading platforms like finex.me are all set to serve the aspirations of Dubai’s growing digital currency population.
