certify
Home arrow Article arrow Article Detail

UAE regulator embraces blockchain to accelerate commercial judgments

Profile Image

Joyashree Dey Follow

INDIA

Nov, 19 2022

Nov, 19 2022

likes | comments 0

Article Image

A judicial authority established by the United Arab Emirates (UAE) Federal Decree has taken on blockchain technology to save time and costs connected with the implementation of commercial decisions.

ADGM Courts, the powerholder that supports the financial regulator Abu Dhabi Global Markets (ADGM), has executed blockchain technology to assist with saving a huge time for the parties in the legal process. Commercial judgments imply surveying different financial risks and managing commercial issues in business.
Digitization through blockchain technology will permit parties and courts to immediately access commercial decisions — a move pointed toward facilitating judicial processes for global exchange and commerce.

Making sense of the new development, Linda Fitz-Alan, the registrar and CEO of ADGM Courts, featured that the company’s primary focus is to change judicial services with the help of technology. “Our focus has now turned to enforcement to respond to the pressing needs of the international business community and to drive practical change for the justice sector,” Fitz-Alan stated. Fitz-Alan also noted that presenting blockchain for commercial courts supports the company’s reputation as a leader in digitizing justice.

ADGM Courts is an autonomous power liable for settling civil and commercial disputes. The association upholds ADGM, the monetary regulator working in the capital city of Abu Dhabi.

In the meantime, a new crypto and blockchain association that expects to develop blockchain and crypto ecosystems in Asia, the Middle East, and North Africa was launched in the ADGM economic free zone. Dubbed the Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA), the non-profit company will assist with working with regulatory solutions, set out additional commercial opportunities, and put resources into education.
On October 5, a Chainalysis report featured how North Africa (MENA) & Middle East region is one of the quickest developing crypto markets internationally. The report shows that in a year, from July 2021 to June 2022, clients in the MENA locale got $566 billion worth of cryptocurrencies, a development of 48% compared to 2021.
fintech-abu-dhabi-festival-witnesses-the-introduction-of-adgm-courts-first-of-its-kind-blockchain-technology-301678884.html 


likes | comments 0

Profile Image

Joyashree Dey

CBW - External Analyst

INDIA

Comments
Data Centre Construction - World First artificial intelligence AI-Tech Utility Token
banner
Article
Aave Acquires Social Metaverse Developer Sonar to Expand Lens Protocol

Aave, a leading open-source, decentralized finance protocol is expanding into Web3 consumer products. The company recently announced their purchase of Sonar, a social gaming application that...;

Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.