Dubai is preparing to add a new landmark to its skyline, a 17-story building known as the Crypto Tower.
The project, spearheaded by the Dubai Multi Commodities Centre (DMCC) and REIT Development, is set to be completed by early 2027.
In an announcement on January 15, Brenda Stratton, Communications Director at REIT Development, noted that all project expenses will be recorded on the blockchain to ensure full transparency.
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She stated, "We're creating a physical tower that serves as a central hub for the crypto community. Every expense is on-chain, setting a new standard for transparency in the industry".
With over 150,000 square feet of leasable space, the Crypto Tower will dedicate nine floors to offices for crypto companies and startups. Three additional floors will serve as incubators for blockchain projects and venture capital firms, while one floor will focus on artificial intelligence (AI) innovation.
Blockchain technology will play a central role in the tower’s operations. Tenant interactions, shared services, and transactions will be managed through on-chain processes.
Additionally, a 10,000-square-foot indoor event hall and a 3,500-square-foot outdoor area will accommodate blockchain and crypto-related gatherings. The top three levels will house a private crypto club, a space for networking and collaboration within the blockchain community.
The Crypto Tower will feature various facilities to attract tenants and visitors. These include a non-fungible token (NFT) art gallery, a luxury car showroom, a gold bullion shop, and a secure 5,000-square-foot vault for storing valuables such as gold, cash, and cold wallets.
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