September 27, 2022

Healy Consultants Group Blog

Company registration, Offshore incorporation, Global corporate services

How Can Cryptocurrency and Blockchain Benefit Women in the UAE?

cryptocurrency in UAE

There’s never been a better time for women in Abu Dhabi, the United Arab Emirates (UAE), to get into crypto and NFTs. Last week, Abu Dhabi Investment Office (ADIO) and Access Abu Dhabi partnered with an NFT domain name provider and Web3 identity platform Unstoppable Domains to provide free crypto domains to women. The official announcement relates the step to encourage women to participate in the future of digital currency. 

It provides women with complete control and ownership of their data and content, instead of Web2 domains that are leased for fixed periods through third-party brokers. In simpler terms, this also means that women in Abu Dhabi can finally start building their portfolio of asset-backed digital collectables, which can become a source of income. 

The UAE has become an unlikely global blockchain leader. With their ambitious plans to support women and create a prosperous economy, Abu Dhabi has taken another step toward adopting blockchain technology to enhance the lives of its people. The UAE government has announced plans to provide free domains and cryptocurrency accounts for women who reside in the Emirate.

Here are the top benefits of cryptocurrency for women in the UAE

Cryptocurrency offers women in the UAE many significant benefits. Here is why now is the time to consider this powerful technology:

A safer and secure way to store money

Blockchain technology can benefit women by giving them more control over their finances. Blockchain setup allows for transactions between two parties without requiring any intermediary party (such as a bank). This means that funds cannot be taken away from you by someone else—they’re completely always controlled by you!

Cryptocurrency can help with economic growth for women

The UAE has a rapidly growing cryptocurrency market (currently valued at $1.88 billion). The number of women participating in this market is on the rise but still low compared to other countries. However, with the increasing popularity of blockchain technology and cryptocurrency, more women are expected to join this market.

Access to financial services that were not available earlier

Currently, only 5 per cent to 7 per cent of all cryptocurrency users are women, and only 12 per cent of people who work in blockchain are women. Cryptocurrency can help with economic growth for women in the UAE by giving them access to financial services that were not available to them previously. Overall, this is a welcoming development as it helps spread awareness about cryptocurrency, NFTs, and blockchain. 

Alternative for making donations to charities 

One of the most promising uses for cryptocurrency and blockchain is making donations easier for charities. This is important for women who may not have access to bank accounts or credit cards and those who may be concerned about online security issues. It’s also an excellent way for people who want to donate money online but don’t feel comfortable using traditional methods like PayPal or Venmo.

So, what’s the takeaway? 

While there has not been a doubt that the internet has helped empower women worldwide, it has also limited their ability to control certain aspects of their finances. However, blockchain technology can help increase economic power for women by giving them more independent financial control.

By giving away free domains and crypto to users, the UAE government allows them to experience the technology first-hand, allowing them to learn more and make more educated decisions. Hopefully, this will also lead to future developments with similar aims: improving awareness, education, and cryptocurrency adoption.

Women in Abu Dhabi can visit the Unstoppable Domains link to get their free domain. For more information on how to set up a crypto proprietary trading company in DMCC, check out the link below: https://blog.healyconsultants.com/setting-up-a-crypto-proprietary-trading-company-in-dmcc/