DeFi Technologies board member: Cryptocurrency will become the second largest industry in the UAE within five years

“The UAE has a great reputation for leadership, legislation, and community building,” Ergen said in an interview. He also predicted: “The UAE’s main business is oil sales. I think the blockchain industry will become the second largest business in the UAE in the next five years. It will start to be an integral part of the UAE’s double-digit economic growth.” Ergen added that the UAE has a clear cryptocurrency regulatory framework, a community of key cryptocurrency industry executives, a debt-free economy that allows the government to invest surplus in technology, a low crime rate, a favorable tax policy, and forward-looking leadership.