#United Arab Emirates News

Central Banks of UAE and Saudi Arabia Say CBDCs are More Efficient and Can Preserve Privacy

November 30, 2020 by Dalmas Ngetich at Blockchain

The conclusion of Project Aber and subsequent review by the Central Banks of the Kingdom of Saudi Arabia (Saudi Arabian Monetary Authority) and the United Arab Emirates (CBUAE) shows that Distributed Ledger Technology (DLT) can improve remittance and satisfy privacy demands despite it being technically untenable, a joint report on Nov 28...

UAE Initiates Blockchain Strategy, Launches Distributed Database of Medical Professionals

UAE Health Industry Taps Blockchain for Tamper-Proof Data Storage

February 18, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

The United Arab Emirates (UAE) Ministry of Health and Prevention (MoHAP) has collaborated with several other government parastatals in the region to utilize distributed ledger technology (DLT) for data storage and the provision of smart healthcare solutions, reports The Science Times on February 17, 2020. The UAE Transforming Healthcare with...

UAE Authorities Organize Blockchain Competition

October 7, 2019 by Ogwu Osaemezu Emmanuel at Blockchain

Dubai’s Ministry of Community Development is organizing a blockchain competition (Blockathon) that will allow developers to build highly functional distributed ledger technology (DLT) solutions and win up to $8,000, according to a press release on October 6, 2019. Dubai Blockathon In an effort to spur blockchain professionals to develop solutions...

Abu Dhabi Government Invests in Cryptocurrency Exchange Platform, MidChains

August 12, 2019 by Ogwu Osaemezu Emmanuel at Business

MidChains, a licensed bitcoin trading platform based in the United Arab Emirates (UAE) has secured an unspecified amount of funding from Mubadala Investment Capital, Abu Dhabi’s sovereign wealth fund, according to a report by local news source Gulf News on August 11, 2019. Abu Dhabi Supports the Growth of its...

Abu Dhabi Crown Prince Infront of Red Skull Images

Crypto Scammers Defraud UAE Residents Using Fake Crown Prince Endorsement

July 3, 2019 by Ashwath Balakrishnan at Bitcoin

Adding to the number of false schemes and scams in the cryptocurrency space, a scheme reportedly run from Argentina and Ukraine has been outed for falsely claiming their investment product was endorsed by Crown Prince Sheikh Mohammed bin Zayed, guaranteeing to "make you rich in seven days", as reported by...

Saudi Arabia and the United Arab Emirates (UAE) to Launch Pilot Cryptocurrency for Cross-Border Payments

January 21, 2019 by Ogwu Osaemezu Emmanuel at Blockchain, Development, News, Tech

Saudi Arabia and the UAE have launched a cryptocurrency aimed at facilitating cross-border payments. The new digital asset was unveiled during the first meeting of the Saudi-Emirati Coordination Council held on January 19, 2019, in Abu Dhabi, according to a WAM report. National Crypto As stated in the WAM press...