Economy



September 24, 2019,   5:18 PM

Dubai’s District 2020 Announces New Blockchain Campus

Samar Khouri

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Source: District 2020

Shanghai-based Atlas Capital Holding is the latest global tenant to join District 2020’s development project.

During an address at Cityscape Global, the new partnership was confirmed by Marjan Faraidooni, Chief Pavilions and Exhibitions Officer at Expo 2020 Dubai. Alongside Siemens and Accenture, the Chinese investment and incubation company is the latest to announce a permanent presence at the legacy project of Expo 2020 Dubai.

According to Faraidooni, the new partnership comes with a vision for a “holistic, innovation-focused environment” where collaboration and synergy maximization can be met towards common, mutual gains. Atlas Capital Holding is set to build a blockchain campus that spans more than 15,000 sqm at District 2020.

For businesses looking to adopt the latest advanced blockchain technologies, the upcoming blockchain campus will provide a collaborative space as well as access to global-standard expertise.  

“Committing to District 2020 is an exciting new chapter for Atlas Capital. Our vision is to support Dubai in its goal of developing into a long-term hub for innovation by creating a Blockchain Campus of the future – an industry hub dedicated to connecting blockchain researchers and entrepreneurs with investors,” said Rain Huan, Co-Founder and Managing Partner at Atlas Capital.

“District 2020 will provide the ideal location to build a community-driven blockchain and fintech ecosystem capable of attracting accelerators from all over the world. The campus will offer a Research & Development (R&D) space, as well as educational and funding facilities. These sophisticated facilities will support startups and established businesses, help launch research projects, and host blockchain industry events, conferences, and hackathons. There is even an opportunity for us to create a digital currency and official blockchain wallet as we innovate into the future,” said Huan.

Faraidooni added: “It is a priority of ours to curate and bring together the right partners and tenants necessary for our ecosystem to grow. This includes engaging with leading global enterprises, SMEs, and startups, as well as key enablers of a successful innovation district such as education providers and social and cultural institutions. Atlas Capital and our shared plans for the Blockchain Campus demonstrate just how high our ambitions are set in this regard.”

In April last year, the UAE government launched the Emirates Blockchain Strategy 2021, with an aim to capitalize on blockchain technology and move half of all government transactions onto a blockchain platform in two years’ time. By adopting this technology, the local government believes it will help in saving around $3 billion in documents and transactions processed routinely, 398 million printed documents, as well as 77 million annual working hours.

District 2020 will formally open its doors in October 2021 and will see 80% of the World Fair’s infrastructure repurposed. The development will also be home to 145,000 residents and employees.



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