DIFC and Mashreq Bank launch Blockchain KYC platform to support faster business registration in the UAE. Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st. This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via…
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Blockchain is becoming a hot topic, but is it being effectively implemented around the world? Blockchain usage is exploding around the world. But despite the technology’s many vocal advocates, the spread of technology is never even. Adoption is limited by a number of factors, including infrastructure development, local resources and regulation. As happens with the…
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The Department of Economic Development of Dubai has established a KYC blockchain consortium with six major banks. One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with…
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The UAE’S health ministry’s new blockchain platform aims to improve the efficiency of smart health services in the country. The UAE’s Ministry of Health and Prevention (MoHAP) together with the Ministry of Presidential Affairs, Dubai Healthcare City and other relevant authorities has launched a blockchain-based health data storage platform. According to The Emirates News Agency…
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The deployment of blockchain technology can save the United Arab Emirates more than $3 billion, new research shows. The deployment of blockchain technology can save the United Arab Emirates (UAE) more than $3 billion, according to new findings. The findings were revealed in a white paper entitled “Inclusive Deployment of Blockchain: Case Studies and Learning…
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Singapore-based crypto exchange Huobi partnered with a real estate firm in the UAE to offer secure crypto payment options for its real estate investors. Major cryptocurrency exchange Huobi has partnered with a real estate firm in the United Arab Emirates (UAE) to allow real estate investors to pay in cryptocurrencies. The Singapore-based crypto exchange has…
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Saudi Crown Prince Mohammed bin Salman arrived in the United Arab Emirates for an official visit yesterday to discuss joint policy measures, including a digital currency plan. Saudi Crown Prince Mohammed bin Salman arrived in the United Arab Emirates (UAE) for an official visit yesterday to discuss joint policy measures, including a digital currency plan. …
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A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes. A Dubai-based Canadian expat has been arrested for peddling an allegedly fraudulent “Sharia-compliant” cryptocurrency and a host of other get-rich-quick schemes. As Gulf News reported on Oct. 30, Aziz “Com” Mirza had cultivated for…
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Can the U.K. draw inspiration from the UAE and China to regulate cryptos instead of banning them? FCA decides. Since the days of the British Empire, the United Kingdom has been one of the world’s largest and most influential economic powerhouses. Even though its financial control over the world has substantially decreased, the country is…
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As crypto regulation is accepted in UAE blockchain projects could stand to benefit. The Securities and Commodities Authority (SCA) in the United Arab Emirates has drafted a resolution on regulating crypto assets, providing greater clarity for crypto-related projects in the Middle East nation. With the focus usually on China, Japan or the United States, the…
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