Dubai Chamber of Digital Economy Drives Meaningful Discussions of the Metaverse and Cryptocurrencies
- Bin Byat: The workshop reflects our commitment to positioning Dubai as a world’s leading hub for Web3 and the metaverse industries, underlining our vision of creating a more connected and collaborative environment for digital businesses.
Dubai, UAE – Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has brought together top executives, business leaders, and entrepreneurs in the metaverse and crypto industry for a new edition of the chamber’s digital industry workshop series.
The workshop was attended by H.E. Ahmad Bin Byat, Vice Chairman of Dubai Chamber of Digital Economy and board members of Dubai Chamber of Digital Economy, Hind Seddiqi, Fadi Ghandour and Dany Farha. The workshop discussed ideation, opportunities, and challenges as well as ways to drive progress in the metaverse and crypto fields.
H.E. Ahmad Bin Byat, Vice Chairman of Dubai Chamber of Digital Economy, said: “Dubai has a healthy and vibrant digital ecosystem welcoming digital companies across various economic sectors and the adoption of the metaverse is rapidly growing.”
“The workshop on the metaverse and crypto industry is part of a series of digital industry workshops we continue to host. It is a great platform to connect like-minded leaders in the field to discover the latest developments and provide a space for meaningful discussions. The workshop reflects our commitment to positioning Dubai as a world’s leading hub for Web3 and the metaverse industries, underlining our vision of creating a more connected and collaborative environment for digital businesses,” he added.
Dubai launched the Dubai Metaverse Strategy with the ambition of Dubai becoming one of the top 10 metaverse economies and hubs in the world. The strategy aims to attract more than 1,000 blockchain and metaverse companies to Dubai to develop Web3 technology and its applications for Dubai.
Dubai has introduced its own virtual asset regime and established Dubai’s Virtual Asset Regulatory Authority (VARA) to provide a secure and progressive operating framework for the virtual asset sector. Recently, VARA announced its entry into the metaverse with the establishment of its metaverse HQ in the virtual world of ‘The Sandbox’, thus becoming the world’s first regulator to make its debut in the metaverse.
Major global crypto players such as Binance, Crypto.com and Bybit have all already moved their leadership to Dubai, favoring the emirate’s ‘light touch’ approach to regulation.
Dubai Chamber of Digital Economy is committed to involving all relevant parties in building a clear roadmap for innovating Dubai’s digital industries.