Watch: Saqr Ereiqat on how the UAE leads in AI, blockchain and digital assets
In an exclusive interview at AIBC, Saqr Ereiqat, Secretary General of the Dubai Digital Asset Association (D2A2), offered compelling insights into the UAEs strategic leadership in artificial intelligence, blockchain, and the metaverse. Speaking to Lily at the event, Ereiqat unpacked the nations progressive digital journey, underscoring a top-down innovation strategy that has firmly positioned the UAE, and particularly Abu Dhabi and Dubai, as epicentres of digital transformation.
Government-led innovation from the outset
Unlike the incremental adoption patterns seen globally, the UAEs approach to emerging technology has been deliberate and centralised. In Dubai, innovation is at the heart of government services, said Ereiqat, noting that this is contrary to global norms where the government often trails the private sector. He highlighted that His Highness Sheikh Mohammed bin Rashid Al Maktoum initiated Innovation Month over a decade ago, embedding innovation into the DNA of governance.
This early commitment is evidenced by a timeline of landmark initiatives: a Bitcoin strategy drafted as early as 2015, a published blockchain strategy by 2017, a metaverse strategy in 2021, and AI white papers emerging by 2022. The UAE’s ambition, however, stretches beyond regional aspirations. Abu Dhabi has put its sights on being the AI capital of the world and has started to invest billions and billions of dollars into that mission, Ereiqat affirmed.
Infrastructure: the foundation of digital growth
A major thrust of the UAE’s digital ecosystem is its triad of talent, capital, and infrastructure. As Ereiqat articulated, Dubai is the perfect amalgamation of three elements: its talent, its capital, its infrastructure.
The capital flows are robust, driven by Abu Dhabis positioning as the capital of capital. Through regulatory bodies like the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), the nation has become a magnet for structured investment funds. Complementing this financial clout is a future-ready infrastructure, which includes both digital backbones, such as data centres from Amazon, IBM, SAP, and Oracle, and forward-looking regulatory regimes.
Dubais Virtual Assets Regulatory Authority (VARA) and ADGMs pioneering framework for exchanges since 2018 underscore a regulatory maturity that is rare in the space. We are the largest blockchain ecosystem in the world, Ereiqat stated confidently, adding that this ecosystem thrives in an environment defined by safety and security… in many places, money cant buy.
A global case study for proactive leadership
One of the standout elements of the UAEs strategy is its openness and consultative approach. Dubais always built openly, Ereiqat noted. Rather than operating in stealth, the government fosters transparency and collaboration across departments and with the private sector. An anecdote from the early days of mobile governance captures this ethos well: His Highness put all of the government leaders in the room and said, We want to be the first mobile government in the world, and a year from now were back here celebrating everyone thats done it, and the departure of anyone that hasnt.
This cultural and political urgency has allowed the UAE to outpace traditional financial hubs like London. They could have been the first but really, London has lost the race to places like the UAE, Ereiqat asserted, suggesting that the UAE has not only become a hub but also a global exporter of digital policy thought leadership.
Real-world crypto adoption and the future of financial inclusion
Ereiqat highlighted that crypto is far beyond hypothetical use in the region. From high-value real estate transactions to legal rulings supporting salary disbursement in crypto, the infrastructure is already in motion. He referred to Project Aber, an international central bank digital currency (CBDC) initiative between the UAE and Saudi Arabia, as a case in point.
Perhaps most compelling is how digital assets could transform remittances for the countrys majority expatriate workforce. We go and charge them 20C23% at a time with crypto, this can be done in cents and seconds, he explained, pointing to blockchains role in democratising financial access for blue-collar workers.
Blockchain beyond crypto: productivity over hype
The conversation also pivoted to the broader application of blockchain technology across industries. The UAEs deployment of blockchain in public health, such as tracking ventilators during the COVID-19 crisis, and the ongoing exploration of food security solutions mark a significant evolution. Were now in this plateau of productivity, Ereiqat remarked, referring to the Gartner hype cycle. Weve just hit the sweet spot.
Setting a global benchmark
The UAEs foresight, underpinned by policy coherence, public-private synergy, and regulatory sophistication, positions it as a global blueprint for technological evolution. Ereiqats interview reaffirmed that the country is not merely embracing the future; it is defining it.
As digital frontiers continue to shift, stakeholders globally would do well to study the UAE model, not only for its technical infrastructure but for its governance style, which integrates ambition, accountability, and a genuine commitment to future readiness.
Join the conversation and join us at the next SiGMA Eurasia Summit. Get your tickets today!
