Announcement of the new business license obtained in UAE and restructuring the project towards success.
Due to the ongoing sequence of events and the performance of the EXIP token, we have decided it’s best to pause the contract and relook at the project’s structure.
One of the main reasons behind this revaluation is due to the fact that we have a new venture capitalist Investor, who is willing to come on board if we agree to restructure the project to attract new users to the platform. As you all know, changing how the whole internet works is not easy, and we as a team are determined to see it through.
In addition to this, we have also set up our company in Dubai and obtained a business license to run our operations in the UAE. Cryptocurrency has recently been legalized in Dubai, and the region is positive in terms of supporting strong cryptocurrency projects such as EXIP.
The region has blockchain strategies put in place aimed at making UAE blockchain-friendly. The Emirates Blockchain Strategy 2021 focuses on utilizing blockchain technology to transform 50% of government transactions into a blockchain platform. There is also the Dubai Blockchain Strategy which targets to make Dubai the first city to be fully powered by blockchain.
It is also important to note that, major businesses are given the option to use cryptocurrencies as one of their payment options. The leading UAE airline Emirates has recently announced that not only do they have plans to accept bitcoin as a payment option, but they are also launching NFT collectibles. Another big milestone is that DAMAC, a leading real estate developer in the region has started accepting bitcoin as payment for properties.
In the past year, the country has given more than 30 crypto exchanges licenses to run in their country and passed new crypto laws for smooth sailing. Significant cryptocurrency exchanges such as Binance, FTX, and Kraken have been granted virtual operating licenses in the country and will set up headquarters inside within the year.
We believe this is the best way forward for EXIP, with many exciting new features planned for the project’s relaunch. The timeline for each relaunch phase will be announced in the coming weeks. The DRS and Web Hosting will not be affected by this and will continue to function as normal. A big thank you to everyone who supported us throughout, and we guarantee to make this project successful.