Oriented on making people closer

The United Arab Emirates is once again confirming its status as a global leader in innovation by announcing the launch of the world’s first Machine Economy Free Zone (MEFZ). This ambitious initiative will be implemented in Abu Dhabi and Dubai by the blockchain platform Peaq and venture studio Pulsar Group.

MEFZ is not just a new business zone. It is a platform designed to reimagine the interaction between humans and technology. Its main goal is to facilitate the co-creation of value between humans and autonomous robots in an entirely new, decentralized environment.

Imagine a world where artificial intelligence, machines, and Web3 technologies (the next generation of the Internet based on decentralization) do not just coexist, but actively collaborate to generate economic benefits. This zone will be an ideal testing ground for the rapid implementation of cutting-edge solutions, attracting global investment and supporting innovation, especially in the field of decentralized applications for physical infrastructure (so-called DePIN projects that combine real devices with blockchain).

The project will develop in four key areas, each of which opens up new horizons:

• Autonomous Machine Regulation and Investment: The MEFZ will develop regulations that will enable the safe and efficient tokenization – or digital asset registration on the blockchain – and investment in robots and autonomous systems, making it easier and more accessible to own a part of a robot or to profit from its operation.

• Virtual and Physical Testbeds: Unique spaces will be created, both in the real world and in the virtual space, to test and scale machine-driven applications and develop smart city technologies.

• Investor Relations: The MEFZ will provide a direct bridge between the best decentralized applications and large institutional investors in the region, accelerating the flow of capital into breakthrough projects.

• Research Hub: The Zone will act as a hub for research and development, facilitating the growth of the entire machine economy ecosystem and establishing direct collaborations between innovators and companies interested in new technologies.

Among the first and most intriguing innovations will be the creation of a machine tokenization structure. This will significantly lower the barriers for people to co-own expensive robots, making investment in the machine economy accessible to a wider range of people. Moreover, the MEFZ will launch the world's first pilot project of Universal Basic Ownership (UBO). This is a revolutionary concept according to which the profits generated by machines will be distributed directly to people - a kind of "universal basic income" from the automated economy.

Peaq co-founder Till Wender emphasized that the machine economy is no longer a futuristic dream and is now becoming a tangible reality. He is convinced that the UAE, as one of the most innovative countries in the world, is ideally suited to implement this bold idea. Pulsar CEO Aliazi Al Khattal added that this project does not just define the future of the machine economy, but literally redefines it, merging the physical and digital worlds through a decentralized blockchain.

The UAE is once again demonstrating its strategic vision by creating an environment where future technologies can flourish, benefiting not only businesses but also ordinary citizens.

Source: Arabian Business

Photo: arabianbusiness.com