The president of the United Nation’s specialized agency for aviation has said that blockchain technology could offer tremendous benefits across aviation systems globally, industry news source AirTrafficManagement.net reported on April 4. The president, Dr. Olumuyiwa Benard Aliu, made his remarks to an international audience of government officials, aviation and tech experts during the inaugural Council for the International Civil Aviation Organization (ICAO) Blockchain Summit and Exhibition in Abu Dhabi. Dr. Aliu noted that with global air traffic volumes anticipated to double over the next 15 years, blockchain technologies have a major potential to reduce pressure on current resources, while sustaining …

The blockchain platform built by one of the United Arab Emirates’ (UAE) two telecoms operators has received an official endorsement from the government as part of the country’s blockchain integration, executives confirmed in a press release on April 3. Du, formerly known officially as Emirates Integrated Telecommunications Company, created its Blockchain-Platform-as-a-Service (BPaas) to offer cloud-based private blockchain hosting compatible with both Ethereum (ETH) and the Hyperledger Fabric. Now, the platform has received the seal of approval from Smart Dubai, the government organization in charge of transforming state-level services with the leveraging of disruptive technologies by 2021. “The Dubai blockchain agenda …

Increasing blockchain presence in aviation will form the focus of a dedicated conference in Abu Dhabi from April 2 to 4, official news portal Emirates News Agency confirmed in a press release on March 31. Promising attendance by 800 people from almost 100 countries, “Blockchain: Unlock the Potential” aims to bring the possibilities of the technology, as they extend to the aviation industry, to a global stage. The press release notes that the event is held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, crown prince of Abu Dhabi, and includes the country’s minister of economy …

The United Arab Emirates Banks Federation (UBF) and the Abu Dhabi Global Market (ADGM) hosted a joint forum on crypto assets and fintech, the UAE’s official news outlet Emirates News Agency reported on March 17. Per the report, the event was held in ADGM in collaboration with the UBF Compliance Committee and aimed to bring together industry specialists to discuss the challenges and opportunities facing fintech and crypto assets. At the start of the meeting, ADGM also shared its regulatory objectives and the main features of its crypto asset policy and surveillance tools. Moreover, the overall topics discussed at the …

Dubai-based real estate giant Emaar has announced plans to launch a token and is considering holding an initial coin offering (ICO) in Europe, English-language local media Arabian Business reports on March 11. Per the article, the token will be developed by Swiss blockchain startup Lykke, and will grant Emaar’s customers and stakeholders access to the referral and loyalty system across the entire company. Emaar is the largest real estate company in the United Arab Emirates (UAE), responsible for the Burj Khalifa, Dubai Fountain, Dubai Mall and Dubai Opera. According to its Wikipedia page, Emaar Properties boasts a revenue of $5.83 …

The United Arab Emirates’ (UAE) largest real estate development firm, Emaar Properties, has officially denied reports that it enabled crypto payments for property, Bloomberg reported on Feb. 20. Known for developing the world’s tallest building, Burj Khalifa — located in Dubai — the firm told Bloomberg that it currently accepts only fiat currencies, such as UAE Dirhams (AED) or United States dollars as payment for property purchases. The publication cited an Emaar Properties spokesperson as providing the confirmation. In the report, Bloomberg cited Australian crypto-focused website Micky as one of websites that initially reported that the real estate giant had …

A blockchain-enabled waste permit portal will be launched in Sharjah, the United Arab Emirates (UAE), the country’s official news agency, Emirates News Agency (WAM), reported on Feb. 17. The blockchain-based waste permit portal will be jointly developed by environmental, recycling and waste management company Bee’ah and the Hamriyah Free Zone Authority (HFZA) — the city of Sharjah’s free trade zone. According to WAM, the platform is the first in the city to employ blockchain technology to validate, process and store transactions. According to the report, the platform will cut costs for customers applying for permits within HFZA as well as …

South Korean cryptocurrency exchange Bithumb will open a new platform in the United Arab Emirates (UAE), local news outlet The Financial News reported Feb. 12. The UAE-based platform is reportedly to be developed in partnership with Abu Dhabi-based firm Nvelop and will function as a springboard for Bithumb to expand into other countries in the Middle East. Nvelop itself is a joint project from Abu Dhabi-based E11 Investment Fund and Taiwanese venture capital outfit Trill Ventures Group, Financial News reports. The joint venture was reportedly established to fund and develop blockchain initiatives in the Middle East and North Africa. “The …

Finablr, a global payment platform and foreign exchange operator based in the United Arab Emirates, has joined Ripple’s (XRP) RippleNet blockchain network, a press release reveals on Feb. 11. Finablr's network brands, UAE Exchange and payment platform Unimoni, will use the blockchain-based platform provided by Ripple to complete real-time transactions to Thailand. The firm also reported it has plans to expand the services to other countries in future. As per the press release, the first partner in the service major Thai bank, Siam Commercial Bank, letting UAE Exchange and Unimoni customers globally send money to Thailand. The bank has been …

The Ministry of Finance (MoF) of the United Arab Emirates (UAE) will discuss the development of blockchain and digital assets in the country’s economy at the 7th World Government Summit. The news was reported by business news outlet the Gulf Today on Feb. 7. The MoF will hold two closed sessions devoted to global financial trends, including the development of blockchain and digital currencies and building a feasible economic environment around the two technologies. The conference participants will also discuss the development of Small and Medium Enterprises (SMEs) and the governance of digital assets. The MoF will also hold an …

The article has been updated to reflect a mistake in the name of the Sheikh involved in the funding, who is Sheikh Saeed bin Ahmed Al Maktoum, not Sheikh Ahmed bin Al Maktoum. Dubai royal Sheikh Saeed bin Ahmed Al Maktoum is backing Lichtenstein-based cryptocurrency fund manager Invao, according to a report from Bloomberg on Feb 5. The fund management firm purportedly aims to secure more investors in the United Arab Emirates (UAE). The Sheikh’s private office, known simply as The Private Office, will reportedly help Invao to secure funding in the UAE. The Private Office also invests in cryptocurrencies …

Six commercial banks from Saudi Arabia and the United Arab Emirates (UAE) have joined a digital currency project, major Saudi Arabian financial news portal Argaam reports on Feb. 5 Referring to comments from the UAE central bank (UAECB), Agraam notes that the goal of the project is to use cryptocurrency for financing transactions between Saudi Arabia and the UAE. The news about developing a cryptocurrency by the two aforementioned countries came in December 2018, when UAECB and Saudi Arabian Monetary Authority (SAMA) had announced that the countries intended to use cryptocurrency for cross-border transactions. Today’s news underlines that six unnamed …