World’s largest ecosystem for cryptographic, blockchain and distributed ledger technologies, based in Switzerland, to launch in Dubai. Agreement underscores DMCC’s support of UAE Government blockchain strategy and development of the future economy. DMCC signs partnership with Switzerland-based investment company CV VC on the sidelines of the World Economic Forum in Davos
Dubai, UAE – Davos, Switzerland – DMCC (press release) – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – announced its strategic partnership with CV VC and CV Labs, to launch Crypto Valley – the world’s largest ecosystem for cryptographic, blockchain and distributed ledger technologies – in Dubai, the United Arab Emirates (UAE).
Designed to foster growth, collaboration and integrity across the global blockchain economy, the ‘DMCC Crypto Valley’ will offer a variety of services including incubation for early-stage startups, co-working facilities, innovation services for corporate clients, blockchain and entrepreneurship training, education, events, mentoring and funding.
Signed on the sidelines of the World Economic Forum in Davos, the agreement sees DMCC work alongside both CV VC, and its subsidiary CV Labs, to develop an ecosystem in Jumeirah Lakes Towers (JLT) where over 17,000 companies are currently registered.
“We are delighted to sign this agreement with CV VC, and launch the Crypto Valley in Dubai, at the very heart of Dubai’s leading business district,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
“Sat at the crossroads of the world, DMCC is a dynamic business hub that drives global trade through Dubai. We are committed to harnessing modern technology to serve the companies registered with us and support their growth into new markets. The launch of the Crypto Valley in DMCC will enhance the city’s dynamic business environment and support the wider strategy of the UAE Government to attract the innovators, entrepreneurs and pioneers that will shape the future economy,” he added.
The agreement commits both parties to collaborate and develop a comprehensive DMCC Blockchain Strategy that is aligned with the Emirates Blockchain Strategy 2021, and supports the Dubai Blockchain Strategy launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.
“We are thrilled to move into the MENA region with DMCC as a very strong local partner. In our opinion the competence from Crypto Valley based companies will support the ambitious goals and strategy to use blockchain in Dubai and beyond! On the other side the capital from the MENA region could help to build even more successful projects and startups and foster the settlement of new blockchain focused companies in the UAE,” added Ralf Glabischnig, Founder of CV VC and CV Labs. “We are looking forward to bringing our strong partner from Crypto Valley to Dubai, like CoreLedger, inacta, Lykke, and Tezos which are already active in the MENA region.”
Research from DMCC’s Future of Trade report found that blockchain could help reduce up to 20 per cent of the actual physical paper costs associated with global trade, currently estimated at AED 6.6 trillion (USD 1.8 trillion). DMCC is a member of the Global Blockchain Council, established in October 2019 to explore, discuss current and future applications, and organise transactions through the blockchain platform.
For further information on the project, and joining DMCC, please contact James Bernard, Head of Corporate Sales, DMCC, and founding member of the Blockchain Innovation Group and Global Blockchain Council on: [email protected].
Oakland News Now Related Posts
Oakland News Now Recent Posts
- Downsizing Oakland Howard Terminal Ballpark Without Knowing About It Is Brainless
- Philippines Independence Day Saturday June 12th 2021: Eric Pangilinan Philippines Reaction
- French President Macron Says America Is Back During G7 Summit At Carbis Bay
- Oakland A’s Kaval, City Council’s Gallo, Alameda County’s Miley Muddle Howard Terminal Ballpark On KGO-TV
- 🔴OMG Vegas LIVE… You Won’t Believe it. Vegas is NORMAL AGAIN!!🚨
- 12-Year-Old Shot Confronting Catalytic Converter Thieves Outside Oakland Home
- Howard Terminal Ballpark: A Gift To Oakland And Its People – By Kevin M. Corbett
- Another Djokovic Vs Nadal Classic At 2021 French Open Nearly Marred By Curfew, But Loop-Hole Found
- Fayetteville Georgia Weather: Thunderstorm High Winds At 3:22 PM EST Friday June 11th
- Ayodele Nzinga: City Of Oakland Announces Inaugural Poet Laureate
- Oakland Black NFL Football Group Coliseum Stadium Proposal On July 20th City Council Agenda
- Nate Miley Alameda County Supervisor Holds Statewide Illegal Dumping Conference April 21, 2021
- Oakland Coliseum A’s Game Security Worker YouTube Vlog Shows Typical Day
- Trayvon Mullen Las Vegas Raiders Safety Needs To Step Up Says Eric Pangilinan For Zennie62
- Have You Ever Watched The Mars Live Webcam On YouTube? If Not You’re Missing The Future Now
- WATCH: Mars Cam Views from NASA Rover during Red Planet Exploration #Mars2020
- Trayvon Mullen Las Vegas Raiders Safety Needs To Step Up Says Eric Pangilinan
- Major League Baseball Doesn’t Care About Cheating In Sticky-Substance Controversy – Eric Pangilinan
- Las Vegas Raiders: Could Josh Jacob’s Be A Hold Out At Mini Camp – By Joseph Armendariz
- Kevin Durant Misses Three That Would Have Put Nets Vs Bucks Game 3 Into Overtime