Marathon and Zero Two Join Forces to Create Middle East Largest Sustainable Bitcoin Mining Operation in Abu Dhabi
Marathon Digital, a bitcoin mining company, has teamed up with Zero Two, which is supported by Abu Dhabi’s sovereign wealth fund, to build the Middle East’s first large-scale immersion Bitcoin mining operation. Meanwhile, in the U.S., the White House has proposed a tax on crypto miners that would require them to pay 30% of their […]
Ripple Makes a Splash in Dubai: Expands Presence and Brings Swell Global 2023 to the City of Innovation
Ripple is strengthening its foothold in the Middle East by opening a new office in Dubai’s financial hub and hosting its annual customer conference, Swell Global 2023, in the city on November 8-9. The move comes as the company sees robust growth in the MENA region, which accounts for about 20% of all RippleNet customers, […]
ADGM Poised for Explosive Growth as Financial Free Zone Expands to Al Reem Island
Abu Dhabi has expanded the jurisdiction of Abu Dhabi Global Market (ADGM) through UAE Cabinet Resolution No 41 (for 2023), as part of its plan to diversify its economy. The resolution aims to enhance ADGM’s financial sector and is in line with the Growth Strategy 2023-2027. The resolution adds Al Reem Island to ADGM, increasing […]
Coinbase Praises UAE for Crypto Regulations, as Ripple Bleeds $200 Million in Legal Fees Fighting SEC
Brad Garlinghouse, the CEO of Ripple, revealed during a fireside chat at the Dubai Fintech Summit that the company has spent $200 million to defend itself against the SEC’s lawsuit. Garlinghouse noted that the U.S. regulatory progress is sluggish in contrast to the UAE’s Virtual Asset Regulatory Authority (VARA) and the recent Markets in Crypto-Assets […]
Crypto Takes Root in UAE: New Crypto Oasis Report Identifies 1,800+ Organizations in Booming Web3 Space
With DMCC in the lead, the UAE’s crypto ecosystem continues to grow at an unprecedented rate, with over 1,800 organizations currently identified as of Q1 2023, according to the second edition of the Crypto Oasis Ecosystem Report. The report, developed in collaboration with the DLT Science Foundation and Roland Berger, one of the leading management […]
‘Machines Can See’ Summit: UAE to be the next Silicon Valley
The UAE government has launched the ‘Machines Can See 2023’ Summit at the Museum of the Future in Dubai, in partnership between Artificial Intelligence, Digital Economy, and Remote Work Applications Office and Machines Can See company. During the “Government, Business, and Science” panel discussion at the ‘Machines Can See 2023’ summit, a group of experts […]
Balancing Innovation and Responsibility: UAE Tech Leaders Stress Cautious Adoption of AI for Future Benefits at Chief Future Officer Forum
During the inaugural Chief Future Officer Forum in Dubai, UAE technology experts acknowledged the crucial role of cutting-edge tools such as artificial intelligence in driving a rapid digital transformation, but urged that caution be exercised in their usage. While organizations are eager to adopt these technologies that have the potential to yield significant positive outcomes, […]
RAK Digital Assets Oasis Appoints James Bernard to Boost Commercial Operations
RAK Digital Assets Oasis (RAK DAO), the world’s first free zone dedicated to digital assets, web3, and emerging technologies, has appointed James Bernard as its new Chief Commercial Officer. In his role, James will oversee all commercial activities, develop business strategies, and establish partnerships to support entrepreneurs, innovators, and businesses in various sectors, including web3, […]
$1M Seed Investment Secured for BuzzAR and Cypher Capital’s AI-Web3 Metaverse Project DSpace
BuzzAR, an AI avatar company based in Singapore and Saudi Arabia, has joined forces with venture capital firm Cypher Capital to develop innovative AI+LBS Web3 location-based games. The partnership will enable both companies to harness the power of their exclusive generative AI technologies on the Metaport platform, which transforms human faces into avatars in real-time. […]
UN Report: UAE Tops Arab Countries in Frontier Technology Preparedness
The United Arab Emirates has climbed five spots to become the leading Arab country and 37th out of 166 nations in the latest UN technology index. The index assesses countries’ readiness to adopt advanced technologies, including artificial intelligence, with an emphasis on environmentally-friendly innovation. According to the Ministry of Industry and Advanced Technology, the UAE […]