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Virgin Hyperloop Concept Video Provides A Peek At The Future Of Transportation

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If the idea of traveling at speeds up to 670 mph while sitting inside a futuristic pod propelled by strong electromagnets through an airless tube sounds like a cool sci-fi concept to you, then you should watch the latest video published by Virgin Hyperloop.

The video shows how the Hyperloop concept, which was first proposed in 2013 by Elon Musk, might enable a faster, greener, and more cost-efficient mode of travel in a not-so-distant future — at least in the United Arab Emirates.

Unlike many existing train stations, the one from which the passengers in the video board their pods is clean, bright, and inviting. The pods themselves echo the same optimistic vision of the future, where traditional materials and high-end technology work in unison to create a more pleasant transportation experience.

Every passenger seat is equipped with wireless charging, and translucent LCD screens that double as dividers between individual rows of seats show the remaining travel time and current speed. Smaller info displays inform passengers about Wi-Fi and toilet availability, both of which are guaranteed to come in handy during longer trips.

When will first passengers be able to enjoy this exciting new mode of transportation? Sometime in 2030, most likely. Virgin Hyperloop, which receives financial backing from Dubai’s regime-backed DP World, must first receive its safety certification before it is allowed to operate in the United Arab Emirates.

So far, Virgin Hyperloop has successfully completed its first passenger test, during which the pod accelerated to around 100 mph. That’s a fairly impressive speed, but there’s no denying that the company has a long way to go before it hits 670 mph.

Also Read: Netflix Is Introducing Sleep Timer Functionality On Android

When it does, its Hyperloop system could be a game-changer for all people who commute long-distances on a regular basis. Jay Walder, CEO of Virgin Hyperloop, said that the company’s Hyperloop system must be affordable for people to use. As such, prices should be much closer to driving than flying thanks to the fact that multiple pods (each carrying up to 28 passengers) can travel inside the same tube mere milliseconds apart.

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Binance Receives Virtual Assets License To Operate In Dubai

As its user base nears 200 million, CEO Richard Teng believes crypto adoption will soar over the next half of the decade.

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binance receives virtual assets license to operate in dubai

Global crypto exchange Binance has been granted a full operational license in Dubai, in a move that’s expected to accelerate digital asset adoption and strengthen the UAE’s regulatory landscape.

The virtual asset service provider license (VASP) was granted by the Dubai Virtual Assets Regulatory Authority (VARA) and will allow Binance to extend its current range of services to retail investors, the company announced yesterday.

The move by Dubai authorities will be critical to Binance’s strategy of growing its user base globally. The crypto exchange expects to pass the 200 million user mark “quite shortly”, according to Richard Teng, the company’s CEO.

Once that milestone is achieved, Binance will have around twice as many users as rival platform Coinbase. Meanwhile, Crypto.com, another popular exchange with 80 million users, received a Dubai VASP license last week.

“We’re seeing much greater institutional adoption and institutional money coming into this space [along with] much greater regulatory clarity and a lot more jurisdictions approving [digital asset] products that bring in new investor classes,” Binance’s Richard Tang explained, adding: “As of now, we stand at about 5% crypto adoption globally, but that will become much faster moving forward”.

Also Read: Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

Dubai and the UAE are extremely supportive of technologies like digital assets, and have already launched initiatives to boost adoption. The UAE has ambitious plans to become a world leader in the crypto economy of the future, with Dubai in particular being noteworthy for passing a new law to regulate virtual assets to support investors and exchanges.

“Global crypto regulation is currently showing diverging signs. Some developed countries have long suffered from crypto-related frauds and illegal exchanges. On the other hand, emerging nations like the UAE and Singapore have enacted crypto laws at faced pace,” said Vijay Valecha, chief investment officer of Dubai-based Century Financial.

As the UAE gears up to become one of the fastest-growing crypto capitals worldwide, investors and talent are flocking to places like Dubai. During 2023, the Emirates as a whole realized $204 million in capital gains from cryptocurrency investments, according to blockchain data analysts Chainalysis.

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