Global News and Digital Insights
for the Consumer Goods Industry

Metaverse DeFi and Al Arab: UAE is revolutionising the future of financial system

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ConsumerGeniuses

One thing is certain: DeFi (Decentralized Finance) and the Metaverse are two of the most promising and revolutionary industries in the tech world. Abu Dhabi is creating Al Arab, the first cryptocurrency supported by AI and completely based on the Metaverse, which will be the only money allowed for acquiring virtual lands in the Abu Dhabi Metaverse, the world’s first 100% digital metropolis. Versace, Gucci, Dolce & Gabbana, Balmain, Louis Vuitton, and Prada have also staked their claims. DeFi is a financial revolution that aims to make the financial system more equitable, safe, and accessible to all. It is developed on blockchain technology and provides a more transparent and decentralised alternative to existing financial systems by removing the need for middlemen such as banks and financial organisations.

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