Dubai Announces Construction of 17-Story Crypto Tower
The United Arab Emirates (UAE) is looking to leverage blockchain technology and make it a hub for all innovations in country. The UAE is in a race with the United States (USA) to clinch the title of the world’s blockchain hub.
What do we know?
The Crypto Tower will boast 150,000 square feet of leasable space for the Web3 community to build projects. The upcoming 17-storey Crypto Tower will be situated at the Dubai Multi Commodities Centre (DMCC) region. DMCC and REIT Development Unveil Landmark Crypto Tower in JLT (Jumeirah Lakes Towers) is the city’s international business district that drives the flow of global trade. Additionally, being a free-trade zone will soon attract crypto businesses into its fold as the UAE encourages advancing blockchain tech. The construction of the ambitious project is expected to be completed in the first quarter of 2027.
How will the building be arranged?
Floors will be dedicated to incubators areas: , three floors for blockchain, while the other floors will be occupied by Web3 firms and yet others for AI innovation, among other technologies. Being in a free-trade zone expect fintech and such advancements as venture capital firms and crypto clubs. Rumors it will offer a gold shops as well, and a 5,000-square-foot vault storage area to meet your vaulting requirements.
The tower will consist of nine office floors for crypto startups and established firms. An entire dedicated floor for AI innovation powered by Chatoshi.ai.
Additional features will include a 10,000-square-foot indoor event space, with premium amenities such as an NFT art gallery.
Will they use Blockchain?
I know many of my followers get tired of me ask this question. However, I finally get to say yes! Tower tenants to use blockchain technology to streamline tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services. WooHoo! This is a huge step forward in my mind
Summary
UAE's Crypto Tower is a real-world demonstration of the investing in the future. Regardless if that is Web3, Gold or Crypto. Money flows where transparency and ownership are ensured by stability and perhaps tech too. Will be an exciting race to follow, would you agree?