CandleFocus US Crypto Policy Under Trump Unlikely to Slow UAE Momentum, Says DRIFE Co-Founder
2024-12-01
Author: Content Editor
The co-founder of blockchain-based ride-hailing platform DRIFE believes that the United Arab Emirates' (UAE) momentum in the crypto industry will not be significantly affected by a new Donald Trump administration. Despite the potential for a more favorable crypto environment under Trump, Firdosh Sheikh argues that the UAE has already built a strong foundation that is not solely reliant on geopolitical changes. The region's emphasis on supporting entrepreneurs through initiatives like visas for startup founders has created competitive advantages and enabled startups to operate legally in environments conducive to innovation. Firdosh cites DRIFE's engagement with regulators and alignment with the UAE's goals of creating a fairer economy as reasons for its success in the region. While some fear that the UAE and other countries may suffer under a Trump administration, Firdosh disputes this notion, highlighting the UAE's positioning as a hub for venture capital and private equity focused on emerging markets as key to its success. She believes that the UAE's unique benefits, including its strategic location and investor-friendly environment, will continue to make it a top choice for entrepreneurs in the blockchain sector. Rather than viewing Trump's return as a concern, Firdosh encourages the region to foster collaborations and promote cross-border crypto and blockchain initiatives. Entrepreneurs in the Middle East are advised to build relationships within the ecosystem and create solutions that align with the region's forward-thinking approach to technology and innovation.
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