The UAE has a long history of adopting technology quickly and assessing its potential for long-term economic growth. The nation is, like its Arab Gulf neighbours, actively pursuing programmes of economic diversification to lessen its reliance on oil. AI, 5G, the Internet of Things, blockchain, and others have all been leveraged to optimise operations, cut costs, or otherwise enhance organisations’ ability to compete in their domestic markets or on the world stage.
The nation’s relationship with cryptocurrency is a similar story. In 2016, Abu Dhabi established a crypto-friendly regulatory sandbox. And just this year, Dubai set up one of the world’s broadest and most advanced crypto licensing systems. Ever since crypto technologies arrived on the scene, the UAE government has shown a willingness to support the industry as it overcomes challenges, assesses its relationship with regulators, and tries to encourage investors. For some time, a debate has raged globally over the nature of…
