How UAE ranked top 10 countries in cryptourrency adoption

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The survey conducted by the Telecommunications and Digital Government Regulatory Authority (TDRA) of the United Arab Emirates (UAE), showed that a considerable number of the United Arab Emirates citizens are holding cryptocurrencies. The poll discovered that over over 11% of the country's citizens have invested in cryptocurrencies. This hs placed the United Arab Emirates in the ninth possition globally as the country with largest population adopting cryptourrency In terms of cryptocurrency investment rate, the United Arab Emirates is now placed ninth globally. The Telecommunications and Digital Government Regulatory Authority (TDRA), the telecoms made it known that 11.4% of the country's total population is holding cryptocurrencies placing it on the top 10 countries in the world adopting cryptourrency.

The press release by a local news In the United Arab Emirates , the country may be on track to achieve its aim of becoming a global centre for digital assets, based on the results of the TDRA's 2022 Digital Lifestyle research. Additionally, some people may feel that the discoveries in the TDRA's Digital Lifestyle study support the UAE's choice to be one of the first nations to adopt and regulate cryptocurrencies. The country has been holding seminars and workshops ever since it showed interest in cryptourrency.

 

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One admirable thing about the United Arab Emirates is how they welcome innovation. Of recent, they used abandoned containers to construct one of the stadiums that will host the 2022 world cup. That's a unique way of solving the problem, one that most countries haven't even considered.

While cryptocurrency may have its issues that cause concern to government, like it's decentralization, effects on banks and traceability, it also has a lot of benefits. There are a lot of developments that use the Blockchain technology and eventually cryptocurrency, like permanent storage by Arweave, fast and cheap transfers of money on chains like Solana and Tron, and help with logistics and supply chain management.

These and many more are problems cryptocurrency adoption aims to solve, so why should a country that's as wise as the UAE deprive itself of future benefits and only struggle to catch up when the world has started enjoying the benefits in a few years ahead?