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Way back in 2018, Dubai established its Dubai Blockchain Centre, to bring together developers, innovators, investors, thought leaders, and educators. Since its inception, the centre has aimed to revolutionise the world’s digital infrastructure with blockchain technology and drive sectoral innovation on a global scale.
From regulatory advances to increasing institutional interest and market growth, Dubai and the UAE are setting global benchmarks for the blockchain community.
Walid BenOthman, Managing Director at Bitpanda, highlights the substantial progress made in institutional adoption. “In 2024, institutional investments accounted for over 60% of cryptocurrency trading volumes, up from 35% in 2021. This underscores the growing acceptance of cryptocurrencies as a legitimate asset class,” he tells The Economic Times.
Looking ahead, BenOthman projects a promising future for blockchain. “The market is expected to grow at a compound annual growth rate (CAGR) of 28.1% from 2024 to 2030, potentially reaching $1,235.71 billion by 2030. Technological advancements increased regulatory clarity, and broader industry adoption will drive this growth. However, regulatory uncertainties and market volatility remain key factors to monitor.”
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