Dubai to be the centre of Cryptocurrency's Next Leap | Kanebridge News
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Dubai to be the centre of Cryptocurrency’s Next Leap

Dubai is poised to host a pivotal event in the cryptocurrency sector, bringing together industry leaders later this month.

Wed, Apr 10, 2024 2:12pmGrey Clock 2 min

This gathering is designed to create unity among web3 players, aiming to close the division between decentralized projects and centralized exchanges in order to elevate the widespread use of digital currencies to new heights.

The conference, titled ‘The Next Frontier of Crypto Adoption‘, is set to take place on April 18 at the Emirates Financial Towers in the Dubai International Financial Centre (DIFC). It seeks to motivate web3 developers to collaborate with centralized exchanges, using these platforms to enhance the visibility and capability of their initiatives.

A senior official from Bitrue, a leading cryptocurrency exchange that teamed up with XDC Network to take the lead in organizing the event, mentioned that Dubai’s success in hosting key events such as Dubai Token2049 and ETHDubai, played a pivotal reason for its selection as the venue.

Dubai’s strategic position as a crossroads for Europe, Asia, and Africa, along with its conducive business environment, cutting-edge infrastructure, and solid security, further underscores its suitability.

Uniting for a Common Goal

Anticipation runs high for the gathering, with key players from the cryptocurrency and related sectors expected to participate. This includes top market influencers, project leaders, and representatives from Foundations and Venture Capitals.

While the collaboration between decentralized projects and centralized exchanges will be a focal point, broader industry strategies for advancement will also be tabled for discussion. This includes discussions on the current market trends and projections for 2024, promising intriguing developments and undisclosed announcements that promise to captivate attendees.

Setting the Stage for Future Growth

The Dubai meeting is not just an opportunity for strategic discussions but also aims to solidify the commitment to innovation and collaboration within the cryptocurrency industry.

It seeks to create an environment for knowledge exchange and networking, thereby driving cryptocurrency adoption to new heights. This initiative comes at a time when decentralized finance (DeFi) has garnered significant attention, yet centralized exchanges remain indispensable for providing liquidity, security, and wider accessibility.

The collaboration between Bitrue and XDC Network highlights the essential role of centralized exchanges in the crypto ecosystem. The Dubai event presents a unique chance for participants to gain insights from industry leaders, discover innovative projects, and network with like-minded individuals, marking a significant stride towards a more inclusive and user-friendly cryptocurrency landscape.



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Preparatory Work for UAE to Oman Hafeet Rail Project Commences at Full Speed

Preparations have begun on the transformative UAE to Oman Hafeet Rail network, revealing significant construction details during a site visit.

Thu, May 16, 2024 3 min

The $3bn Hafeet Rail project between the UAE and Oman will feature 60 bridges and a 2.5km tunnel, making it an “architectural and engineering marvel,” according to CEO Ahmed Al Musawa Al Hashemi.

Hafeet Rail has announced that preparatory work is moving full speed ahead for constructing the transformative railway link between the UAE and Oman. This announcement was made during a site visit attended by key officials, members of the Asyad and Hafeet Rail executive management teams, project contractors, and consultants.

Key Highlights

During the visit, attendees were introduced to the main components of the project, including passenger, repair, and shipping stations, as well as major bridges and tunnel sites.

The Hafeet Rail project is set to play a very important role in enhancing local and regional trade, unlocking new opportunities in the infrastructure, transportation, and logistics sectors, and fostering economic diversification. It will also strengthen bilateral relations between the UAE and Oman.

The project will involve constructing 60 bridges, some reaching heights of up to 34 meters, and tunnels extending 2.5 kilometres. The Hafeet Rail team showcased the latest rail technologies and innovative engineering and architectural solutions designed to navigate the challenging geographical terrain and weather conditions while maintaining high standards of efficiency and safety.

The rail network will boost various industrial sectors and economic activities and significantly impact the tourism industry by facilitating easier and faster travel between the two countries.

Ahmed Al Bulushi, Asyad Group Chief Executive Asset, noted that the project’s rapid progress reflects the commitment of the UAE and Oman to developing and realizing the project’s multifaceted benefits.

Investment and Future Impact

Al Bulushi added that investments in developing local capabilities and expertise in rail-related disciplines over recent years have enabled the project to reach the implementation phase successfully under the leadership of highly efficient and professional national talent.

Hafeet Rail’s CEO Ahmed Al Musawa Al Hashemi emphasized, “The commencement of preparatory works for construction is a testament to the robust synergy between all parties involved in both nations, achieving this milestone in record time. We are confidently laying down the right tracks thanks to the shareholders of Hafeet Rail and the expertise of local companies in Oman and the UAE, alongside international partners.”

During the site visit, the visitors explored some of the key preparatory sites, including Wadi Al Jizi, where a 700-meter-long bridge towering 34 meters will be constructed. This ambitious project is envisioned as an architectural and engineering marvel in a complex geographical landscape.

Future phases will require more collaboration, with a continued focus on quality, safety, and environmental considerations in line with the international industry best practices.

The Hafeet Rail project represents the first-of-its-kind railway network linking two Gulf nations, marking a significant shift in regional goods transportation. This efficient and reliable transportation option will reduce dependence on slower and less sustainable road transport.

Hafeet Rail promises a 40% reduction in shipping costs and a 50% in transit times compared to traditional land transportation methods, as it will be connecting five major ports and several industrial and free zones in both countries.

This shift will reduce reliance on road transport by cars and trucks and promote more sustainable shipping practices. The establishment of the railway network will also create significant opportunities for SMEs in construction, engineering, and logistics support, acting as a catalyst for economic growth and innovation within the domestic economy.

By linking major ports, the Hafeet Rail project will enable local SMEs to import, export, and distribute their products more effectively, enhancing their market reach and global competitiveness.

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