Dubai Multi Commodities Center Signs MOUs to Expand Web3 Business Globally with Korean Metaspace Platform

03/17/2023 20:57 • Tech Trends • 91 views

According to reports, sources have revealed that the Dubai Multi Commodities Center (DMCC) recently announced the signing of two memorandums of understanding with a South Korean Metaspace platform, planning to establish a partnership to promote the expansion of the United Arab Emirates’ Web3 business globally. DMCC was established in 2002 as the largest free trade zone in the United Arab Emirates; In 2021, the government launched the DMCC Encryption Center, which is an integrated ecosystem for enterprises in the encryption and blockchain fields. Data shows that the United Arab Emirates is the most concerned encryption country among all Middle East and North African countries. （news.todayq）

DMCC of the United Arab Emirates cooperates with Won Universe of Korea

Analysis based on this information:

The Dubai Multi Commodities Center (DMCC) has recently partnered with a South Korean Metaspace platform to promote the expansion of the United Arab Emirates’ Web3 business globally. The DMCC, established in 2002 as the largest free trade zone in the UAE, is leading the country’s efforts in the encryption and blockchain fields through the DMCC Encryption Center, which launched earlier this year.

Web3, short for Web 3.0, is the next generation of the internet that aims to decentralize the web using blockchain technology, thereby making internet activities more private, secure and independent of centralized authorities. As Web3 gains widespread adoption, more businesses globally are exploring how to integrate it into their products and services.

The DMCC recognizes the potential of Web3 and is keen to establish itself as a leading hub for Web3 businesses in the Middle East and North Africa (MENA) region. The partnership with the South Korean Metaspace platform is a step towards achieving this goal.

The two memorandums of understanding signed between DMCC and the South Korean platform are intended to facilitate collaboration between the two entities, leading to the creation of initiatives such as joint educational programs, workshops, conferences, and research projects. Through these initiatives, DMCC hopes to attract more Web3-focused businesses to the UAE and bolster the country’s position as a leading global hub for Web3.

While the UAE remains the most concerned encryption country in the MENA region, it is still catching up with other countries globally. Therefore, DMCC’s efforts in promoting Web3 could propel the UAE into becoming a significant player in the blockchain and encryption fields.

In conclusion, the partnership between DMCC and the South Korean Metaspace platform to promote Web3 is a strategic move that could position the UAE as a leading hub for Web3 businesses in the MENA region. With the UAE’s growing interest in encryption and blockchain, this partnership could also accelerate the country’s development in these fields.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/17/dubai-multi-commodities-center-signs-mous-to-expand-web3-business-globally-with-korean-metaspace-platform/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Dubai Multi Commodities Center Signs MOUs to Expand Web3 Business Globally with Korean Metaspace Platform

DMCC of the United Arab Emirates cooperates with Won Universe of Korea

Recommended articles