Dubai World Trade Center The new center of cryptography

• Published 2 Year Ago
• DHS Blog

Today, a significant percentage of the UAE's economic exchanges and exports and imports are traditionally conducted. Although trade traditional methods have been useful and successful to date, they incur significant costs, especially for the government. Using blockchain-based systems and digital currencies saves $ 3 billion in various economic transaction costs for the UAE. The government can spend this significant amount to develop and upgrade its economy.

trading plan in UAE

The UAE intends to be very professional in the field of digital currencies. There are now several countries and companies that have long been working with blockchain systems and the use of digital currencies. But due to a little study and expertise, they have not been able to use this system well. Hence, the UAE intends to create its official digital currency with the support of the dirham. When digital currency is backed up, it will be able to control, rise or fall in a controllable way, in addition to being well converted to other common currencies, including the US dollar. Thus, we see that the United Arab Emirates, based on the experience of other countries and based on the latest digital currency technologies and blockchain systems, has created a national digital currency EM CASH.

This national digital currency can be used in all trade and commerce transactions of the UAE with neighboring countries and different countries of the world. On the other hand, common digital currencies such as Bitcoin, Atrium, and Tetra can also be exchanged with this width. This, in addition to significantly reducing government spending on trade, makes these processes faster and cheaper for citizens, businesses, and countries.

Dubai World Trade Center
Another UAE-sponsored project in Dubai is creating an attractive environment for the digital currency industry. Legislators in the UAE have reached an agreement that formally regulates the trading and protection of digital currencies.

The World Trade Organization in Dubai (DWTCA) has announced that it has signed an agreement with the United Arab Emirates Securities and Exchange Commission (SCA) to support the regulation and trading of digital assets. This new initiative creates a framework that allows DWTCA to issue licenses for digital currency-related financial activities. The SCA also oversees important digital currency-related activities, such as issuance, trading, and licensing. This new initiative is in line with DWTCA's commitment to expand its services and support new technologies such as non-replaceable tokens.

 As Dubai continues to move toward innovation and the digital economy, DWTCA will also seek to support various businesses in the field of blockchain and cryptographic technologies. The initiative is in line with Dubai's efforts to support the development of cryptography, as both Dubai and the United Arab Emirates have actively sought to leverage blockchain technology as well as tokens and irreplaceable digital currencies.

The UAE is creating a new economic sphere for digital currencies. Details of a new plan for a "digital currency center" were recently launched at the Dubai World Trade Center (DWTC) headquarters.

The Dubai World Trade Center is set to create a "comprehensive ecosystem" that accelerates the growth of this economic sector.

Blockchain technologies in Dubai

The Dubai World Trade Center will work with the private sector and related institutions in Dubai to create an attractive environment for the sector and to implement standards to support investors, fight money laundering and fight terrorism financing (CFT). The move will revolutionize the UAE economy and adopt blockchain technologies. Dubai has a good opportunity to open new cryptocurrencies and blockchain businesses. The UAE continues to strive to become one of the largest centers of digital currencies. Meanwhile, the Dubai government has a new initiative to support this area, its development, and regulations.



According to the Dubai World Trade Center (DWTC), the government agency will become a comprehensive regulator of digital currencies and related products, such as exchange offices. 

As part of this guideline, DWTC will design a comprehensive ecosystem for this growing sector in Dubai, working with the private sector to create an attractive environment for the field.

A part of this statement states that:

The World Trade Center will introduce new global rules to enforce virtual asset policies. Of course, there are still different rules about e-commerce in the UAE. But the organization intends to adopt general regulations in this regard.

Today, we see the welcome of most investors in the UAE in digital currencies. Many investors in the UAE use the platform created for them to buy and sell and Trade their transactions using digital currencies. They do. In the coming years, we will see that digital currencies will form a major part of the business dealings of the government and the people of the UAE.



Trade digital currencies in the United Arab Emirates

The UAE, and especially the city of Dubai, is trying to encourage foreign investors to invest in the region by upgrading and developing the Dubai World Trade Center. In this center, in addition to buying and selling digital currencies, educational and investment basics will be provided to different people. One of the most important points in which the UAE has been creative is the use of digital currencies and their compliance with Islamic law. The UAE intends to present its first state digital currency by Islamic law.

 On the other hand, the UAE intends to trade with its neighbor, Saudi Arabia, through digital currencies. This feature allows the two countries to conduct their trade and economic exchanges faster and more securely. Legislators in the UAE are also working to enact important rules on how to buy and sell digital currencies and blockchain systems. By enacting these laws, both the government and the citizens can have their economic exchanges faster and safer.

If you are interested in topics related to digital currency, you can refer to the blog section on our site. We always try to keep up to date with the latest and greatest news in the field of digital currencies, blockchain systems, fundamental analysis, technical analysis, investment, up and down charts in the digital currency market, investment plans, and wallet issues. Upload the sale and purchase of digital currencies in the blog section of our site.