XDC Network's impressive innovations fuel Dubai's ascent as next Silicon Valley

Dubai has emerged as a leading global hub for cryptocurrency and blockchain technology. At the forefront of this transformative movement is XDC Network (XDC), an open-source enterprise-grade blockchain platform. With its impressive innovations, strong industry collaborations, and a commitment to fostering adoption, XDC Network is playing a major role in positioning Dubai as the next Silicon Valley of the Web3 era.

Let’s explore the significant growth of XDC Network and its efforts to establish Dubai as a prominent player in the global blockchain landscape.

XDC Network: Driving Blockchain Innovation and Adoption

Over the past year, XDC network has experienced remarkable growth, with its blockchain technology gaining traction across various industries. Through its open-source enterprise-grade blockchain, XDC has showcased its commitment to innovation, scalability, and security. This dedication has attracted attention and partnerships within the Web3 space, leading to collaborations with top platforms in the crypto market.

By actively engaging with the blockchain and Web3 communities through events and initiatives, XDC Network has been instrumental in building networks, raising awareness, and driving the adoption of blockchain technology.

The 'Explore the Future of Finance with Tokenisation and Blockchain' event has commenced with a remarkable turnout. This engaging gathering brings together prominent individuals in the field, including Ronit, global head of future of finance at Citi, Sunil Senapati, COO of trade and payment at XinFin, and Mo Ali Yusuf, advisory board member at The MENA Fintech.

The 'Regulating Web3: What does the Future hold?' the event was an insightful gathering of industry experts and thought leaders who discussed the evolving web3 ecosystem and regulatory landscape in the UAE. The event was a great success and provided opportunities for networking and knowledge sharing among attendees.

The 'Tokenization by Equity Firms' event hosted by XDC Network was a celebration of remarkable moments. Doug Brooks took the stage and shared insights on the XDC Network, highlighting the immense $7 trillion opportunity for tokenising private equity and venture capital by 2030E.

He also discussed ongoing tokenisation projects on the XDC network, such as ComTech Official Gold (CGO) and Stasisnet. Sander Andersen emphasised the consistent outperformance of the private equity index compared to the S&P 500, highlighting the importance of portfolio diversification and the democratisation of the private financial market through tokenisation.

On March 21, the XDC Network hosted an engaging Web3 Meetup, bringing together a diverse group of inventors, influencers, media professionals, startups, and developers. With over 30 professionals in attendance, the meetup provided an opportunity for participants to learn about the XDC Network and its ecosystem.

On March 17, the XDC Network hosted an impactful Smart Contract and Solidity Meetup, recognising the importance for developers to network, learn, and grow. The event attracted over 50 developers who enthusiastically delved into the exploration of the XDC Network and its ecosystem.

UAE: The Emerging Global Blockchain Hub

Dubai’s transformation into a global blockchain hub has captured the attention of the international Web3 community. In early 2022, the city began its journey to become the next Silicon Valley, fostering an environment conducive to blockchain innovation.

Dubai’s free zone has provided a welcoming ecosystem for businesses and entrepreneurs to thrive. Recognising the immense potential of blockchain technology, Dubai Multi Commodities Centre (DMCC) authorities partnered with CV Labs, an international ecosystem builder, to launch Crypto Valley. This initiative aims to establish the world’s largest ecosystem for cryptographic, blockchain, and distributed ledger technology.

ADGM, DIFC and VARA favorable web3 and crypto regulations inviting more and more global web3 companies in UAE. RAK setup freezone to encourage crypto companies to set up in RAK. Zero income tax and personal tax is an additional encouraging factor.

XDC Network’s Role in Dubai’s Crypto Journey

XDC Network has been at the forefront of Dubai’s blockchain and Web3 community. Through its innovative solutions and unwavering dedication, XDC has demonstrated a strong presence in supporting the crypto community’s growth. As Dubai positions itself as a global crypto leader, XDC’s vision of making Dubai the Silicon Valley of the Web3 era aligns perfectly with the city’s ambitions.

ETHDubai was an exciting event that generated significant interest in the XDC Network within the attendee community, particularly among developers looking to build or shift their dApps and projects onto the XDC blockchain. The event provided a platform for networking, collaboration, and knowledge sharing, allowing participants to explore the possibilities and advantages offered by the XDC Network.

With its robust infrastructure and developer-friendly environment, XDC emerged as an attractive choice for those seeking to leverage blockchain technology in their applications. The event's impact was evident as attendees recognised the potential of XDC and expressed enthusiasm for its adoption.

Through building a robust presence in the market and driving innovation, XDC network is actively contributing to Dubai’s journey towards becoming a prominent player in the global blockchain landscape.

The XDC Network offers technical support, business guidance, access to a large community, and access to developers' center in Dubai to conduct meetups, showcase projects, and demonstrate products to a select group of users that makes Dubai a best place for the startups and developers to grow their business in Web3.

With XDC Network’s pioneering efforts and Dubai’s proactive approach to embracing blockchain and crypto, the stage is set for Dubai to become the next Silicon Valley of the Web3 era. XDC’s significant growth, industry collaborations, and commitment to driving adoption have positioned it as a key player in Dubai ‘s Web3 journey.

As the city establishes itself as a global Blockchain hub, XDC Network’s vision aligns perfectly with Dubai’s ambitions, making it a formidable force in the global blockchain landscape. With the support of industry giants like Google, the Web3 revolution is set to thrive, unlocking innovative possibilities and transforming various sectors for the better.

— Ammar Tarique is the content strategist at Teamology Softech and Media Private Limited.

• KT Network