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Dubai Sparks Tech Frenzy with 90% License Discounts, Aiming to Lead MENA’s AI and Web3 Revolution

AI/MLDubai Sparks Tech Frenzy with 90% License Discounts, Aiming to Lead MENA's AI and Web3 Revolution

Dubai is aggressively pursuing its ambition to become a prominent tech hub in the MENA region by offering a 90% discount on commercial licenses to attract AI and Web3 businesses. This move is intended to foster innovation and draw more technology companies to the city. Currently, there are over 400 crypto and blockchain enterprises in Dubai, a number expected to grow to over 1,000 by the year’s end, creating new jobs and investment prospects.

To solidify its tech hub status, Dubai has launched an enticing offer through the Dubai AI and Web 3.0 Campus, providing licenses and serving as an innovation hub with advanced AI labs and training programs. However, there have been reports of technical issues in the application process, causing delays.

Dubai’s interest in tech extends to cryptocurrencies and blockchain. The city has welcomed various crypto ventures, granting licenses to companies like Laser Digital Middle East. With the current trend, Dubai is set to continue its growth as a hotspot for crypto and blockchain enterprises, potentially reaching over 1,000 by the end of the year. This surge not only reflects numbers but also symbolizes growing investor confidence in Dubai’s digital initiatives, paving the way for new job opportunities and unique investments in the region. Dubai is poised to be a leader in the digital age driven by Web 3.0 technologies.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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