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- Alawad Fund is the first royal crypto fund to invest in MetaBitcoin.
- Alawad Fund headed by Sheikh Alawad(Chairman) and Jojo Jiang(CEO).
From the beginning of 2021, The United States of Emirates (UAE) Dubai is becoming a new crypto capital globally. UAE has invited many globally established crypto Firms to build their workplace in Dubai.
Dubai’s royal family has shown their keen interest in the Blockchain technology sector and has formed their first crypto fund named “Alawad Fund.” which was launched on March 1st quarter of 2022 in March in Dubai.
Dubai is establishing itself and becoming the new capital of cryptocurrency around the globe.
“Alawad Fund” and its official, while talking to media, mentioned they are preparing a roadmap for massive investment in the company to promote cryptocurrencies and their use cases in Dubai. The company is headed by Sheikh Alawad(Chairman) and Jojo Jiang(CEO).
“Alawad Fund” first slot of payment will be nearly $300 million, which will be declared soon.
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CEO of “Alawad fund” Jojo Jiang mentioned that “Bitcoin (BTC) is difficult to mine, there are many restrictions such as electricity bills and mining farms, and there are currently only 2 million mining volumes left. It has a high barrier to entry.”
Further continuing her statement, Jojo Jiang said, “It is challenging to rise more than several dozen times within a short period from now, but on the other hand, Meta bitcoin (MBTC) can be mined easily by anyone, and Elon Musk said that Bitcoin causes environmental problems. It is also free from the issue of being able to do it.
The process of MetaBitcoin Mining was introduced in May, and around 30k miners are actively working in the space. According to the reports, miners with a hash rate of 500k to 2 million were allowed to purchase three units.
In recent times UAE has been moving forward in providing better infrastructure in the crypto world, and many pre-established companies are preparing a detailed plan to build their new setup in Dubai. Moreover, the government of the UAE is also helping the companies with better laws and policies.
Conclusion
The United States of Emirates(UAE) is an upcoming global leader in new crypto capital and establishing the crypto market in Dubai. More than ten companies have already inspected the sites for their workplaces. The establishment initiative will generate better job opportunities in the country and ultimately help in the growth of the country’s economy and infrastructure.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
