Increasing the Number of People Using Blockchain and Web3 Around the World

A Memorandum of Understanding (MoU) was signed between the DMCC and the Busan Metropolitan City at a recent ceremony that took place in both Busan and Seoul. As part of the cooperation, the two organizations will work together to connect the blockchain communities in Dubai and Busan by exchanging information and participating in additional joint initiatives between the two cities.

It is important to point out that the Dubai Multi Commodities Center (DMCC) is Dubai's flagship free zone, and its primary responsibility is to monitor the growth of businesses and businesses that trade commodities. DMCC also took part in Blockchain Week Busan, which is recognized as one of the most important blockchain events in Asia.

In addition to this, it met with a number of policymakers to discuss many other facets of the trade, and it was a participant in the Korea-International Roundtable for Crypto Exchanges.

Ahmed bin Sulayem, the Executive Chairman of DMCC, delivered the welcome address at Blockchain Week Busan. In it, he stressed the importance that blockchain and Web3 technology will play in changing all facets of the economy.

"There is a new shift in operations from all industries, including banking, healthcare, business operations, gambling, and supply management," Sulayem elaborated on what he had previously said.

In addition to this, the executive of the DMCC stated:

The Emirate of Dubai is a major actor on the international stage in the blockchain and Web3 ecosystems. As a result, there is a considerable potential for the two nations to collaborate closely in order to progress the expanding sector.

The most recent agreement between Dubai and South Korea has the goal of bolstering the international Web3 and blockchain industries. This will be accomplished by utilizing the DMCC's Crypto Centre as a resource. Moreover, the memorandum of understanding that DMCC has reached with Busan Metropolitan City would further strengthen its position as the premier free zone in the globe. In addition to this, it will redouble its efforts to establish a distributed ledger ecosystem that is interconnected.

In the meantime, the DMCC Crypto Centre houses the largest concentration of blockchain and Web3 companies of any other location in the Gulf area. The Dubai Multi Commodities Center (DMCC) is the organization that can make Dubai's dream of becoming a digital economy a reality. It has more than 450 members who are involved in a diverse range of economic sectors.

Like Dubai, Like Busan

According to Park Heong-Joon, the mayor of Busan Metropolitan City, Busan has the potential to become a regional blockchain hub in Asia. This information was provided by the mayor. According to Park, Busan's tremendous advancement in its ability to compete with other cities can be attributed to its investments in Web3 and blockchain technologies.

The Mayor also mentioned that with the relationship with DMCC, Busan would be able to establish a robust cryptocurrency area and duplicate the results that have been seen at the Dubai Crypto Center. "We are thrilled to join forces with DMCC, and we look forward to working with them in the future," added Park. "We are looking forward to working with them in the future."

The efforts of the Dubai government have resulted in the city's blockchain industry becoming one of the most rapidly expanding in the world. Dubai is home to a number of international enterprises and investors. The fact that it has policies that are friendly toward digital assets also helps Dubai's status as a worldwide hub for cryptocurrency.