Abu Dhabi’s technology innovation and growth hub has officially launched, promising to accelerate the development of blockchain technologies within the modern city.
The Blockchain Center, which was introduced as a space for innovation in new technologies, has been officially launched, creating new opportunities for the growth of global technologies, such as Blockchain and Web3, within the city.
Abdulla Al Dhaheri, CEO of Blockchain Center, stressed that this new innovation center will serve as a space for incubation, acceleration, venture capital investment, education, research, consulting and events related to blockchain technology and the decentralized web. From this new center, Abu Dhabi will establish itself as a global leader in emerging technologies, he commented.
Blockchain Center to boost digital asset industry in Abu Dhabi
Abu Dhabi’s new blockchain hub aims to open the city’s doors to the wide range of innovative projects and solutions being developed in the blockchain ecosystem. According to Al Dhaheri, this space is designed to foster the construction of an enabling environment for the creation and growth of blockchain and Web3 startups, companies and academic institutions, as well as to empower its participants to develop new products and services related to this digital ecosystem.
Overall, the new hub will also support the growth and expansion of the digital asset industry within the city, with the aim of consolidating Abu Dhabi’s leadership in this emerging and promising developing industry.
Incubation, venture capital, education and more
As highlighted by Al Dhaheri, the Abu Dhabi Blockchain Center maintains a focus on developing Web3 projects and startups across a range of sectors, from incubation to funding and education.
The new blockchain center will support early-stage projects, offering comprehensive resources, specialized mentoring, and strategic financing to ensure their takeoff and growth. The center will also provide financial support to already established projects or companies, to contribute to their strengthening and expansion. It will also provide access to educational resources, such as certifications and research, that will help develop and grow skills, talents, and innovative solutions in the Web3 space.
Other services offered by the city to blockchain and Web3 projects include consultancies and advisory services, through which they will be able to access expert opinions, recommendations and strategies to optimize the use cases and applications of blockchain technology. Finally, the Abu Dhabi Blockchain Center will provide access to different events related to the blockchain industry and digital assets, ranging from masterclasses to workshops and conferences.
Blockchain innovation in Abu Dhabi
Abu Dhabi has been at the forefront of blockchain and Web3 technology in the UAE, sharing its vision of the technological future led by these emerging technologies.
In 2022, it announced the creation of MEAACBA, a non-profit organization focused on cryptocurrencies and blockchain, which integrates the Middle East, Africa and Asia with the aim of incorporating these new technologies in key sectors of the region. The city also established a Blockchain and Virtual Assets Committee, referred to as ADBVAC, which has been tasked with overseeing blockchain and digital asset operations in the city, in order to ensure transparency and security and mitigate the risk of financial crimes.
These developments have elevated Abu Dhabi’s competitiveness in the digital asset space, strengthening its position as a global leader in emerging technologies.
At the end of last year, as reported by this media, the IOTA Foundation registered the organization IOTA Ecosystem DLT in this city, taking advantage of its clear disposition and regulations towards digital assets to promote the growth and development of IOTA technology.
Main image by QuRails
