How do Blockchain developers make money in UAE?

Oluwafemi Smith
0
1.1K Views
Nov 29, 2021

Who would have ever considered that an invention as Blockchain technology would ever be considered a thing today, 20 years ago?

Giving all credits to Satoshi Nakamoto, who created the first blockchain in 2008, from which the technology has evolved and found its way into a wide range of applications other than cryptocurrencies.

Progress was not a slow process after all, as in 2009 had the inventor, Satoshi Nakamoto published the first whitepaper on the technology.

It's not surprising that 1 bitcoin as of October 2009 was less than 1cent and now considered over USD 35,000.00 in value.

In today’s article, we will review how Blockchain developers earn money in the UAE.

What about Blockchain development?

Because blockchain is such a revolutionary technology, it has spawned a new field of development known as blockchain development. As a result, developers and tech enthusiasts have a plethora of job opportunities from this technology.

Who are Blockchain developers?

Blockchain developers are developers who work on developing and optimizing blockchain protocols; they major in designing the architecture of blockchain systems, and the creation of smart contracts and web apps using Blockchain technology.

Similar to Blockchain development, The Watchtower - Web Design Agency Dubai has a professional team of Web design and Web development experts to cater to all your requests.

What are the types of Blockchain developers?

1. Core Blockchain developer

The architecture of a blockchain system, how its protocols should be designed, the design of the consensus protocol, high-level decisions, and development related to blockchain technology are all the responsibilities of core blockchain developers.

2. Blockchain software developer

Blockchain software developers are just major in building decentralized applications that run on blockchain technology using the architecture and protocols that were developed by Core Blockchain developers.

How do Blockchain developers make money in the UAE?

If it isn't an NGO [Non-Governmental Organization], then it should profit one, right? Therefore, it is not out of place to consider the gains of being a Blockchain developer.

The most important factor in determining one's earning power as a Blockchain Developer is experience level. It is not absurd to say that the higher the remuneration, the more years of experience you ought to have.

In the United Arab Emirates [UAE], a Blockchain Developer can earn around 16,900 AED per month. Although the Salaries could range between 7,960 AED to 26,800 AED.

If placed on a monthly salary, this automatically includes housing, transportation, and other benefits. Salaries for Blockchain Developers vary greatly depending on experience, skills, gender, and location.

Is Blockchain available in the UAE?

The government of the UAE has always been savvy about technology and innovation; therefore, it is no surprise that technology as the Blockchain is available in the UAE, enjoying warm reception in daily transactions.

A good example of this milestone is the Emirates Blockchain Strategy 2021 and the Dubai Blockchain Strategy was launched to aid this effort.

With an aim to transform 50% of government transactions onto the blockchain platform, Dubai's Blockchain Strategy will make Dubai the happiest city on the planet making it one of the few cities to be powered by Blockchain technology.

Quite typical of the government of the UAE, they carefully laid down strategic pillars to guide the strategy; these pillars are government efficiency, industry creation, and global leadership.

Are blockchain developers in demand?

Blockchain developers and engineers are currently the most in-demand roles, given the wave of technology and the UAE's status as a technological frontier. The pay in the Blockchain industry is significantly higher than in related fields and job titles.

Is crypto mining legal in UAE?

Many have inquired if it is illegal to mine crypto in the UAE, well, Cryptocurrency mining may not be regulated in the UAE or any of its free zones.

Mining is also not covered by any existing legislation. Mining of crypto assets is not regulated as a regulated activity under the ADGM [Abu Dhabi Global Market] virtual asset framework likewise.

What is the future of Blockchain development in the UAE?

Since no man knows tomorrow, predicting the future of any technology is no different, and therefore difficult. If blockchain continues on its current trajectory, it will have an impact on a wide range of industries, including retail, mining, healthcare, education, agriculture, and the entertainment industry.

If this pace continues, financial services stand a better chance to benefit, particularly with decentralized finance, which employs blockchains to handle complex financial use cases.

For more information on Blockchain, Blockchain technology, Cryptocurrency, Digital Marketing, and SEO, you can always trust The Watchtower, the best and award-winning Web Development Company in Dubai.