Business EconomyPosted at: Jan 24 2020 1:53PM

DMCC Announces Crypto Valley in Dubai at Davos 2020, Boosting Blockchain Ecosystem

DUBAI, UAE, Jan. 24, 2020 /PRNewswire/ -- DMCC – the world's flagship free zone and Government of Dubai Authority on commodities trade and enterprise – announced its strategic partnership with CV VC and CV Labs, to launch Crypto Valley – the world's largest ecosystem for cryptographic, blockchain and distributed ledger technologies – in Dubai, the United Arab Emirates (UAE).

Designed to foster growth, collaboration and integrity across the global blockchain economy, the 'DMCC Crypto Valley' will offer a variety of services including incubation for early-stage start-ups, co-working facilities, innovation services for corporate clients, blockchain and entrepreneurship training, education, events, mentoring and funding.

Signed on the sidelines of the World Economic Forum in Davos, the agreement sees DMCC work alongside both CV VC, and its subsidiary CV Labs, to develop an ecosystem in Jumeirah Lakes Towers (JLT), DMCC's business district, where over 17,000 companies are currently registered.

"DMCC is delighted to sign this agreement with CV VC, and launch the Crypto Valley in Dubai, at the very heart of Dubai's leading business district," said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.

"Sat at the crossroads of the world, DMCC is a dynamic business hub that drives global trade through Dubai. The launch of the Crypto Valley in DMCC will enhance the city's dynamic business environment, and support the wider strategy of the UAE Government to attract the innovators, entrepreneurs and pioneers that will shape the future economy," he added.

The agreement commits both parties to collaborate and develop a DMCC Blockchain Strategy that is aligned with the Emirates Blockchain Strategy 2021, and support the Dubai Blockchain Strategy launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council.

"We are thrilled to move into the MENA region with DMCC as a very strong local partner. In our opinion the competence from Crypto Valley based companies will support the ambitious goals and strategy to use blockchain in Dubai and beyond! On the other side the capital from the MENA region could help to build even more successful projects and startups and foster the settlement of new blockchain focused companies in the UAE," said Ralf Glabischnig, Founder of CV VC and CV Labs.

"We are looking forward to bringing our strong partner from Crypto Valley to Dubai, like CoreLedger, inacta, Lykke, and Tezos which are already active in the MENA region," he added.

Research from DMCC's Future of Trade report found that blockchain could help reduce up to 20 per cent of the physical paper costs associated with global trade, currently estimated at USD 1.8 trillion. DMCC is a member of the Global Blockchain Council.

For further information on the project, and joining DMCC, contact James Bernard, Head of Corporate Sales, DMCC, and founding member of the Blockchain Innovation Group and Global Blockchain Council: [email protected].
(Disclaimer--Features may vary depending on the regions; subject to change without notice.)
Video - https://www.youtube.com/watch?v=hT6P1PwP27w
Photo - https://mma.prnewswire.com/media/1081510/DMCC_Announces_Crypto_Valley.jpg
Photo - https://mma.prnewswire.com/media/1081511/DMCC_and_Crypto_Valley.jpg
Logo - https://mma.prnewswire.com/media/1009140/DMCC_Logo.jpg

Media Enquiries: DMCC | PR & Corporate Communications | [email protected]
Phone: +971(4)4249600

Please log in to get detailed story.

Tags: #DMCC Announces Crypto Valley in Dubai at Davos 2020 # Boosting Blockchain Ecosystem

TRAI recommends sharing of active, passive infra by telecom providers

24 Apr 2024 | 7:03 PM

New Delhi, April 24 (UNI) With a view to improve quality of services and reducing cost, the telecom regulator TRAI on Wednesday recommended sharing of active and passive infrastructure among telecom service providers, a move that would help setting up network quickly across the nation.

DMCC Announces Crypto Valley in Dubai at Davos 2020, Boosting Blockchain Ecosystem

TRAI recommends sharing of active, passive infra by telecom providers

REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K

Nissan establishes new Sales and Service network in Durgapur

Car owners demand better roads in 2024 election survey

Honda Motorcycle & Scooter India sets new record in Eastern India

HYDERABAD, APR 24 (UNI):- Jayesh Ranjan, Principal Secretary, Govt. of Telangana addressing at the Retailer's Summit organized by Retailers Association of India, on Wednesday. UNI PHOTO-96U

THIRUVANANTHAPURAM, APR 24 (UNI):- BJP supporters campaigning of all parties marking the conclusion for electoral campaign for the Lok Sabha polls in Kerala will draw to a close in Thiruvananthapuram on Wednesday. UNI PHOTO-94U

HYDERABAD, APR 24 (UNI):- Congress candidate from Secunderabad Lok Sabha seat Danam Nagender along with Telangana Chief Minister Revanth Reddy on the way for filing nomination papers for Lok Sabha elections, in Secundrabad on Wednesday. UNI PHOTO-91U

WAYANAD, APR 24 (UNI):- BJP Tamilndau President K Annamalai waving hands towards the people at a road show, as part of election campaign for NDA candidate and BJP Kerala president K Surendran at Mananthavady, on Wednesday. UNI PHOTO-90U

HYDERABAD, APR 24 (UNI):- BJP candidate for Hyderabad Kompella Madhavi Latha filing nomination papers for Lok Sabha elections, in Hyderabad on Wednesday. UNI PHOTO-89U

HYDERABAD, APR 24 (UNI):- Dr.Duvvuri Subbarao (C) former Reserve Bank Governor releasing a book titled ‘Just A Mercenary? Notes from My Life and Career, at Kautilya School of Public Policy, GITAM Deemed to be University, in Hyderabad on Wednesday. UNI PHOTO-88U

NALGONDA, APR 24 (UNI):- Telangana Irrigation, Food and Civil Supplies Minister Uttam Kumar Reddy, Roads and Building Minister Komatireddy Venkat Reddy, participate Nalgonda Congress MP Candidate K Raghuveera Reddy, filing nomination papers Lok Sabha elections in Nalgonda on Wednesday. UNI PHOTO-87U

HYDERABAD, APR 24 (UNI):- BRS President and former Telangana Chief Minsiter K Chandrasekhar Rao, during launch bus yatra as part of the Lok Sabha elections campaign at BRS Bhavan, in Hyderabad on Wednesday. UNI PHOTO-85U

HYDERABAD, APR 24 (UNI):- Bharat Rashtra Samithi (BRS) Party Working President K T Rama Rao on his way at the road show before filing nomination papers of Malkajgiri BRS party candidate Ragidi Lakshmareddy, in Hyderabad on Wednesday.UNI PHOTO-83U

NALGONDA, APR 24 (UNI):- Telangana Irrigation, Food and Civil Supplies Minister Uttam Kumar Reddy, Roads and Building Minister Komatireddy Venkat Reddy, participate Nalgonda Congress MP Candidate K Raghuveera Reddy, filing nomination papers Lok Sabha elections in Nalgonda on Wednesday. UNI PHOTO-82U

SRINAGAR, APR 24 (UNI):- Apni Party candidate from Jammu and Kashmir Lok Sabha constituency seat Ashraf Mir on his way to filing nomination papers for Lok Sabha elections, on Wednesday. UNI PHOTO-81U

GUMLA (JHARKHAND), APR 24 (UNI):- Gujarat Chief Minister Bhupendra Patel addresses an election campaign rally in favour of BJP candidate Sameer Oraon after filing nomination papers for Lok Sabha elections in Gumla-Lohardaga, Jharkhand on Wednesday. UNI PHOTO-80U

SRINAGAR, APR 24 (UNI):- PDP supporter's at a rally in Srinagar as they accompany their leader Waheed Ur Rehman Para to filing his nomination for the Parliamentary elections, on Wednesday. UNI PHOTO-78U

SRINAGAR, APR 24 (UNI):- PDP supporter's at a rally in Srinagar as they accompany their leader Waheed Ur Rehman Para to filing his nomination for the Parliamentary elections, on Wednesday. UNI PHOTO-77U

SRINAGAR, APR 24 (UNI):- PDP supporter's at a rally in Srinagar as they accompany their leader Waheed Ur Rehman Para to filing his nomination for the Parliamentary elections, on Wednesday. UNI PHOTO-76U