DeFi Technologies Director: Blockchain May Become the Second Largest Industry in the UAE

[Chain News] On August 17, it was reported that Chase Ergen, a board member of the listed digital asset investment company DeFi Technologies, stated that thanks to the regulatory policies and attractive business environment in the UAE, the Crypto Assets industry is expected to become its second-largest industry within the next five years. Ergen mentioned in an interview: "The UAE is renowned for its leadership, legislation, and community building." He also predicted: "The main business of the UAE is oil sales. I believe that in the next five years, the Blockchain industry will become the second-largest business in the UAE. This will begin to be a part of the UAE's economy achieving double-digit growth." Ergen added that the UAE has a clear encryption regulatory framework, a community composed of key executives from the Crypto Assets industry, a debt-free economy that allows the government to invest surpluses in technology, low crime rates, favorable tax policies, and forward-looking leadership.