Due to a number of initiatives taken by the UAE authorities in the last six months, the country has become one of the world leaders in the adoption of platforms and startups operating in the field of Web 3.0. According to the report published a few days ago by the Crypto Oasis info resource, the UAE has taken a leading position among other states hosting startups from the Web 3.0 sphere. According to the information provided in the report, there are over 1,400 Web 3.0-related companies operating on the territory of the state.
The report provided indicates that many projects were created under the auspices of the Dubai International Center. Their number was over 450. This is more than fifty percent of the existing blockchain companies created in the UAE itself.
What steps are the UAE authorities taking to expand the infrastructure related to Web 3.0
Throughout this year, the country’s authorities have been purposefully engaged in a policy of attracting investments from foundations and individuals to promote blockchain technology, as well as the Metaverse and non-interchangeable tokens. Summits are regularly held in the UAE, where many influential people, companies and foundations related to blockchain and Web 3.0 gather.
The authorities also pay special attention to improving regulatory legal acts, eliminating bureaucratic barriers so that as many startups as possible can start working in the UAE and make a profit. Back in mid-summer, it was announced to make the UAE economy the most adaptive to the Metaverse.
Since the government pays special attention to this issue, a number of the most famous cryptocurrency companies and trading exchanges have decided to open their representative offices in the UAE. In particular, this was done by the Binance exchange, and other platforms.
At the end of September, the task was set to increase funding for the development of applications related to the Metaverse.
What is the UAE’s strategy for the Metaverse
As indicated, the authorities have proposed a plan according to which special attention is paid to the development of Metaverses. The Head of the state proclaimed a policy according to which the UAE should be the technological capital, the leader in the implementation of AI, blockchain and Web 3.0. The country should get the status of a global player in the digital economy, and every effort will be made to do this.
As for the strategy of the Dubai Metaverse itself, it will include a variety of studies related to the use of AI and blockchain, support for companies and startups offering innovative solutions in the field of Web 3.0.
In addition, the strategy involves the creation of new models for the functioning of government agencies, medicine and educational institutions, and other sectors of the economy. Special attention will also be paid to the issues of data protection of clients who will interact in the UAE Metaverse.
At the moment, the UAE government is indeed the most progressive and advanced among the rest in the introduction of new information technologies and blockchain.
Considering the fact that so many companies and startups seek to open their offices in the UAE and receive funding from funds for their development, the UAE can already be called a leader in the development of Web 3.0. A number of states are already adopting the experience of the UAE to develop their own infrastructure related to blockchain and Web 3.0. There is no doubt that in the next few years, the UAE will remain a leader in the implementation of innovative solutions in the field of Web 3.0, Metaverse and blockchain.
