Arab Federation of Capital Markets Partners With UAE to Launch Blockchain Inn...
United Arab Emirates (UAE)’s Ministry of Economy has joined hands with the Arab Federation of Capital Markets (AFCM) to kickstart a challenge that encourages fintechs to create a know-your-customer (KYC) verification system based on blockchain technology. Trustworthiness of Data on the Blockchain The AFCM has, in conjunction with the UAE’s Ministry of Economy, launched a market innovation challenge wherein participants are expected to create a functional know-your-customer (KYC) blockchain system. The challenge, according to AFCM, is open to “enterprise-ready”....
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Cypher Capital, a United Arab Emirates (UAE)-based venture capital (VC) firm, has announced the launch of a $100 million seed fund that will primarily avail funding to decentralized finance (defi), gamefi, and metaverse projects. Mentoring of Entrepreneurs A United Arab Emirates (UAE)-based venture capital firm, Cypher Capital, recently announced it has launched a $100 million seed fund whose objective is to finance blockchain and crypto projects with genuine value propositions. As explained in a report published by Unlock Media, the VC firm is planning to be involved in the mentoring of....
FIDE, the International Chess Federation, has become the first global sports federation to launch its own NFT marketplace. It announced a partnership with core developers of FreeTON, TON Labs, to launch ChessNFT.com – a new chess non-fungible token (NFT) ecosystem. Full marketplace functionality is scheduled for later this month, to coincide with the upcoming World Championship in Dubai. ChessNFT hopes to welcome a new demographic to the world of blockchain, attracting both players and fans of chess alike. Users will be able to bid on and purchase chess-related NFTs featuring....
Twenty-four well-known Bitcoin firms have expressed keen interest in Rootstock, a smart contract protocol that works on the Bitcoin blockchain. These companies will participate in the RSK Federation, which will introduce a developed hybrid security model for the project. RSK Federation Aims to Add Secure Smart Contract Functionality to Bitcoin Network.....
Despite the fact that Arab oil is running out, the entire region continues to develop rapidly. The United Arab Emirates (UAE) has created a new economic oasis in the middle of the desert, and now the state is ready to challenge Silicon Valley. The Arab crypto industry is growing faster than local skyscrapers. One of […]
Blockchain technology is set to disrupt existing financial business models within the next five to 10 years, according to a new report by global capital markets consulting firm GreySpark Partners. Entitled "The Blockchain: Capital Markets Use Cases", the report notes that distributed ledger technology (abbreviated as DLT) has the potential to reduce operational costs and counterparty and settlement risk, while also impacting payments and remittances, among other financial sectors. Other topics discussed in the report included digitised financial instruments; regulatory reporting; clearing....