Dubai Announces Construction of 17-Storey Crypto Tower

Dubai has announced the operation of a 17-storey Crypto Tower to accommodate to the increasing blockchain and Web3 technology. The Crypto Tower volition boast 150,000 quadrate feet of leasable abstraction for the Web3 assemblage to physique projects. The United Arab Emirates is looking to leverage blockchain exertion and marque it a hub for each innovations. The UAE is successful a contention with the US to clinch the rubric of the world’s blockchain hub.

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Source: khaleejtimes.com

The upcoming 17-storey Crypto Tower volition beryllium situated astatine the Dubai Multi Commodities Centre (DMCC) region. The DMCC is the city’s planetary concern territory that drives the travel of planetary trade. The free-trade portion volition soon pull crypto businesses into its fold arsenic the UAE encourages advancing blockchain tech. The operation of the ambitious task is expected to beryllium completed successful the archetypal 4th of 2027.

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Construction of Crypto Tower successful Dubai To Be Completed successful 2027

Source: Blockchain News

The soon-to-be-constructed Crypto Tower successful Dubai besides is simply a hub for AI innovation, among different technologies. Three floors volition beryllium dedicated to blockchain incubators, portion the different floors volition beryllium occupied by Web3 firms. It would besides boast of fintech advancements with crypto clubs, golden shops, and a 5,000-square-foot vault retention area. “The Crypto Tower is simply a pioneering improvement that sits astatine the interface of blockchain, Web3, and existent estate,” said Ahmed Bin Sulayem, Chief Executive Officer of DMCC.

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“With implicit 150,000 quadrate feet of leasable space, including 9 bureau floors, 3 dedicated floors for blockchain incubators, an AI innovation floor, a crypto club, golden bullion shop, and vault retention area, the operation volition supply a scope of cutting-edge facilities and services for the payment of our members. The motorboat of Crypto Tower is some a real-world objection of the aboriginal of Web3, wherever transparency and ownership are ensured by blockchain technology, arsenic good arsenic a connection of our intent arsenic we proceed to consolidate Dubai’s presumption arsenic the world’s starring innovation hub,” helium said.