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Group Formed to Develop Dubai’s Digital Assets

Group Formed to Develop Dubai’s Digital Assets

In yet another strategic move to establish Dubai as a world-class digital economic hub, the Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has announced the formation of the Dubai Digital Assets Business Group (D2A2).

D2A2 aims to strengthen the digital asset industry’s role in the economic development of the UAE and the wider Middle East region, enhance digital business infrastructure and support the growth of digital companies in Dubai.

The key objectives of the group will be the promotion of the digital asset industry, transparency through market intelligence and data, support for the interests and growth of digital asset companies, and the fostering of cross-border cooperation     .

Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Teleworking Applications, and Chairman of Dubai Chamber of Digital Economy, underscored the formation of D2A2 as a strategic move aligned with the Dubai Chamber of Digital Economy’s strategy, which aims to fast track the growth of Dubai’s digital economy.

He noted that the group provides an ideal platform for companies operating in the digital asset sphere to unify their voices, address market challenges and align their ambitions. He further added that such efforts will accelerate Dubai’s digital transformation and achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to cement the emirate’s position as a global capital for the digital economy.

D2A2 will be an important reference for providing strategic and up-to-date market research data related to the digital asset sector to industry stakeholders, the private sector, policymakers and government entities.

Gaurang Chairman of Desai, Dubai Digital Assets Business Group, commented, "We see an opportunity to turn Dubai and the UAE into a regional hub for digital assets. That is why it is very important to work towards creating a bridge for the digital asset industry to further integrate into the world economy by cooperating with counterpart organisations across the world. We wish to welcome all experts in the industry to come and join D2A2, to help us spread the principles of accountability, integrity and transparency, and promote the highest professional and ethical standards."

“D2A2 will reinforce the digital asset industry’s commitment to society by educating the public and developing tools to bolster the access to and advancement of technology for all. It will also support the digital asset industry’s efforts to improve quality, the environment, energy management and investor protection," he added.

Furthermore, the recently launched Dubai Metaverse Strategy aims to build on the emirate’s achievement of attracting more than 1,000 companies in the fields of blockchain and metaverse. The metaverse will support 40,000 virtual jobs and add $4 billion to Dubai's economy in five years. 

Dubai's iconic Museum of the Future and Binance NFT, the NFT marketplace of Binance, the world’s leading blockchain and cryptocurrency infrastructure provider aims to develop and launch a range of digital products on the blockchain, starting with their first-ever NFT collection – The Most Beautiful NFTs in the Metaverse.