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Abu Dhabi Chamber of Commerce to launch blockchain working group

Abu Dhabi Chamber of Commerce to launch blockchain working group

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) plans to launch seven new working groups aimed to develop the private sector, promoting leadership and boosting Abu Dhabi’s business ecosystem that include AI, Blockchain and digital assets, as well as digital gaming and others.

As per the press release, these working groups focus on enhancing the private sector’s capacity, reflecting their aspirations, and channelling their voice to relevant stakeholders across key economic sectors.

The working groups explores seven key fields including precious metals and jewellery, chemicals production, Artificial Intelligence (AI), interactive and digital gaming, banking and financial services, blockchain and digital assets, as well as media, entertainment and gaming.

The Abu Dhabi Chamber of Commerce previously identified over 126 opportunities for the private sector to develop, through their engagement with the current working groups that span across various sectors. These working groups often host group meetings and workshops to discuss topics related to each sector and enhance their contribution to socio-economic development.

His Excellency Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI ,Managing Director, said, “Through the new seven working groups, the Abu Dhabi Chamber aims to contribute to the Emirate’s economic aspirations by fostering a dynamic and diverse business ecosystem, solidifying Abu Dhabi’s position as the leading hub for business and investment.”

Al Dhaheri emphasized the Chamber’s commitment to coordinating with all stakeholders to provide a platform that fosters cooperation, knowledge exchange, and opportunities for business growth in Abu Dhabi.

To further strengthen the role of startups in the national economy, the Chamber is also establishing a dedicated team that brings together representatives from startups, innovation centres, business incubators and accelerators, venture capitalists, Research and Development (R&D) centres, and the public sector to address their challenges.

Jordanian government approves Blockchain strategy for 2025

Jordanian government approves Blockchain strategy for 2025

The Jordanian Council of Ministers has approved the blockchain strategy for 2025 to improve governmental services, security, and competency. As per the announcement, introducing blockchain is aimed to improve transparency and integrity. Blockchain will be used to ensure privacy of citizens’ data including financial, educational. health and others.

The Blockchains strategy will improve the digitization efforts simplifying administrative functions while saving time and cost for governmental services.

As per the Jordanian government it will also enhance innovation in various economic sectors such as entrepreneurial and startup sector.

The strategy is aligned to the Jordanian economic vision to innovate especially in the telecom and IT sector.

The Jordanian Ministry of Digital Economy and Entrepeneurship was a key player in the creation of the strategy. The Ministry had sent out a consultation paper and received over 100 comments from 22 entities taking into consideration comments that would be influential in the policy.

In May 2023, the Jordanian government represented by Jordanian Ministry of Digital Economy and Entrepreneurship ( MODEE)) commissioned the United Nations Economic and Social Commission for Western Asia (UNESCWA) Economic and Social Commission for Western Asia to draft a national blockchain policy for Jordan. Fast forward one year, and MODEE has officially launched a national blockchain network, called MODEE DLT ( Distributed Ledger Technology) to enhance e-government services.

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

Estonia and UAE to enhance healthcare sector in UAE with Blockchain security solutions

The Estonian Ministry of Social Affairs has partnered with the UAE to develop innovative solutions in the digital health sector using blockchain technology.

As per the press release, the partnership aims to address future challenges and create added value in the UAE’s healthcare system, leveraging Estonia’s leadership in digital health to improve the quality and efficiency of medical services in the UAE. It is designed to help the UAE adopt advanced digital systems, including e-prescriptions, artificial intelligence, and blockchain technology, to improve services and ensure the security and confidentiality of health data.

Janika Merilo, Head of the Digital Health and Care Department at the Estonian Ministry of Social Affairs, expressed her enthusiasm for the collaboration, saying, “We are pleased to announce this strategic partnership with the UAE, which represents a global model for digital transformation. We are committed to sharing our expertise in digital health to support the UAE’s efforts in developing a sustainable healthcare system for the future.”

Merilo emphasized that Estonia’s experience in digital transformation has shown how technologies like e-prescriptions and blockchain can revolutionize healthcare delivery.

Since adopting a comprehensive digital health system in 2008, Estonia has become a world leader in this field, managing over 40 million electronic health records. The system facilitates more than 2.3 million monthly interactions between doctors and patients, with 99% of prescriptions issued electronically. This digital approach has saved Estonia an estimated 2% of its annual GDP by reducing paperwork and enhancing efficiency.

Estonia’s use of blockchain technology to protect health data from cyber threats aligns with the UAE’s emphasis on improving cybersecurity in healthcare systems. This collaboration aims to build a safer and more sustainable health system in the UAE.

Estonia and UAE will work together to enhance security through blockchain will foster trust in the healthcare system, and ongoing innovations will contribute to building a sustainable, advanced healthcare model for the UAE.

UAE and USA retail investors to increase investments in crypto in 2025

UAE and USA retail investors to increase investments in crypto in 2025

In an eToro survey, published December 24th, on UAE retail investors, it found that UAE retain investors plan to increase their cryptocurrency investments by 2025. In fact 37% of retail investors plan to do so, while 40% plan to increase their investments in stocks, bonds and commodities, while 38% plan to invest in real estate.

This survey covered 1,000 retail investors in the UAE, 54% of whom listed financial goals as their main New Year’s resolutions for 2025, including investing in stocks, cryptocurrencies, and real estate.

The survey also showed that 51% of respondents plan to increase their savings or investment amounts, and 41% plan to develop more comprehensive budgeting and spending tracking strategies. Meanwhile, 32% want to increase their income through side jobs, and 28% are considering changing jobs to earn higher salaries.

66 percent of retail investors in USA will increase allocation in crypto in 2025

Bret Kenwell of eToro discussed a survey that was conducted on 1,000 retail investors in the United States. 61% of respondents affirmed that the bull market will persist.

In addition, confidence in AI stocks is also high, with 16% anticipating that they will continue their substantial increase into 2025, while 42% anticipate more incremental increases in their share prices.

Analyst Bret Kenwell said, “Tech often serves as a leadership group for US stocks, and with mega-cap and AI-related stocks garnering strong momentum as Q4 draws to a close, retail investors are looking for that to continue in 2025. Given how well markets have performed and how well these companies are doing, it’s no surprise that investors are optimistic.”

The re-election of Donald Trump, a pro-crypto president, has inspired substantial adjustments in retail investors’ portfolios. 55% of investors have adjusted their strategies. Of those that are planning on adjustments, 66% are increasing their allocation to crypto, a more popular option than US stocks 50%.

Bret Kenwell explained that Crypto has done really well. He further pointed out that Bitcoin has doubled its price for two consecutive years.

Lebanese VERO Labs partners with Avalanche blockchain for fan based market

Lebanese VERO Labs partners with Avalanche blockchain for fan based market

Lebanese founded, VERO Labs, a social technology company operating the ad-free social network VERO™, will launch a custom L1 blockchain on Avalanche to unlock the multi-trillion-dollar fan-based asset market, offering creators and superfans new ways to connect, engage, and invest in each other’s success.

VERO’s L1 blockchain will power its Community Finance (CoFi) model and allow creators, sports franchises, and IP owners to raise capital directly from their fans. This on-chain model will enable fans to invest in and benefit from the success of creators, sports teams, music artists, and media franchises. The recent Avalanche9000 testnet upgrade will improve transaction speed, security, and scalability for VERO users.

“Our investment in VERO marks a key milestone for on-chain community-driven finance,” said John Nahas, Chief Business Officer at Ava Labs. “VERO’s platform allows creators to directly connect with their fans and build lasting value. We see great potential for this model to empower superfans in new ways while expanding and connecting communities. VERO is at the forefront of making this vision a reality.”

VERO Labs works with licensed intellectual property (IP) owners across sports, film, TV, music, and more to facilitate community participation. Creators can offer token-gated experiences, exclusive content, and limited-edition digital assets. With banking, broker-dealer, and ATS licenses, VERO Labs enables the trading of securities, crypto, and novel digital assets, providing an ecosystem where creators can tokenize their assets and fans can invest in their success.

“Building on Avalanche strengthens our ability to give creators new tools to connect with their fans and unlock powerful new revenue streams,” said Ayman Hariri, CEO of VERO Labs. “By integrating VERO’s platform with Avalanche’s advanced blockchain technology, we’re empowering creators to build more resilient, fan-driven ecosystems.”

As per the press release, the collaboration will expand opportunities for creators to earn through fan-driven models, allowing more creators to engage with their communities in financially rewarding ways. Fans will be able to become stakeholders in the success of creators, teams, and franchises across various industries, from digital media to sports and entertainment.

The Hashgraph Group to launch $100 million Web3 ventures fund

The Hashgraph Group to launch $100 million Web3 ventures fund

The Hashgraph Group (THG), the Swiss-based international business, technology, and investment firm that operates exclusively within the Hedera ecosystem, has secured a fund management license through its subsidiary Hashgraph Ventures Manager Ltd in ADGM – the fastest growing financial center in the MENA region.

Licensed and regulated as a venture capital (VC) fund manager by the ADGM Financial Services Regulatory Authority (FSRA), Hashgraph Ventures Manager is planning to launch a $100 million global venture fund (Hashgraph Venture Fund-I) out of ADGM. The strategic Web3 venture fund will focus on generating attractive long-term returns by investing in proven early-stage and well-established companies utilizing deep technologies to build and commercialize enterprise-grade solutions and products for the Web3 economy.


Stefan Deiss, Co-Founder & CEO of The Hashgraph Group, said: “We have received a lot of interest in our Web3 ventures fund from existing co-investors and ecosystem partners, including government institutions, sovereign wealth funds, venture capital funds, family offices, and other qualified investors. We pay particular attention in the selection of strategic co-investor partners to build a diversified portfolio of assets across target industry sectors. We are focused on generating attractive returns through investment in the convergence of deep technologies intersecting on the Hedera distributed ledger technology (DLT) network, while empowering cross-pollination and the co-creation of long-term enterprise value within a diversified global portfolio of Web3 companies.”


The Hashgraph Association (THA) is seeding the Hashgraph Venture Fund-I (HVF-I) as an anchor investor with USD 20 million, representing 20% of the total fund size. The fund anticipates making strategic investments in Web3 and DeepTech companies that are developing innovative solutions in AI, IoT, Blockchain/DLT, Robotics, and Quantum Computing. The qualified projects also benefit from THG’s well-established Venture Studio Program (VSP), which actively shapes and enables portfolio companies through its expertise in engineering, productization, and commercialization.


Kamal Youssefi, President of The Hashgraph Association, stated: “We believe in co-funding innovative entrepreneurs and enterprises that are building the next generation of Web3 solutions on Hedera that enable financial inclusion with a positive socioeconomic impact. We look forward to this unique opportunity to gain exposure to leading-edge Web3 companies through investment in Hashgraph Ventures Fund and generating long-term capital growth for the Hedera ecosystem.”


The investment strategy of the Hashgraph Venture Fund is focused on generating attractive long-term returns with a positive environmental, social, and governance (ESG) impact, while building a strong portfolio of assets that drive economic value in the Web3 space. The fund will only invest in companies that pass a rigorous technical due diligence with demonstrable evidence of tangible commercial traction.


Andrew Forson, Head of Ventures & Investments at The Hashgraph Group, added: “We assess investment opportunities on the basis of key commercial and technological criteria to make well-informed investment decisions, while leveraging our extensive experience and expertise in deep technologies to secure alpha for our investors as we nurture and scale impactful companies across multiple sectors and geographies, driving sustainable innovation that make lives better.”


THG operates globally with a diverse network of co-investment venture studios, which include the “DeepTech Venture Studio” signed with the Ministry of Investment of Saudi Arabia (MISA) earlier this year, the ‘Digital Assets Venture Studio’ in strategic partnership with the Qatar Finance City (QFC), the ‘Web3 Venture Studio’ with IIT Madras in India, and the ‘DeepTech Venture Studio’ in strategic partnership with INNOVX in Morocco, alongside various other co-investment partners.

Blockchain cybersecurity entity partners with Abu Dhabi Blockchain center

Blockchain cybersecurity entity partners with Abu Dhabi Blockchain center

The Abu Dhabi Blockchain Center (ADBC) and Verichains, an entity in finance and blockchain cybersecurity, have partnered to support blockchain developers, businesses, and institutions throughout every stage of their journey, from early development to operational maturity. This partnership reflects a shared vision to provide a secure foundation to promote and develop blockchain technologies in the region, unlocking its potential for economic growth and technological leadership.


“Blockchain innovation can only thrive when it’s built on a foundation of trust and security,” said Abdullah Dhaheri, CEO of The Blockchain Center Abu Dhabi. “This partnership with Verichains brings unparalleled expertise to the region, ensuring that blockchain companies have access to the technical support needed to develop and grow their project. Announcing this initiative at Bitcoin MENA 2024 underscores our commitment to fostering a secure and vibrant blockchain ecosystem for the MENA region.”

Through its comprehensive security services, Verichains will enable developers to tackle key challenges at every stage of the development cycle:

Early Design and Architecture Review: Assisting teams in designing secure and scalable blockchain systems from the ground up, helping projects avoid costly codebase rework.

Audits and Pre-Deployment Assessments: Identifying vulnerabilities in the protocol and smart contracts before projects go live, providing technical assurance for developers, users and investors alike.

Post-Deployment Services: Offering regular penetration testing, threat modeling, and security assessments to keep live projects resilient to emerging risks.

Incident Response Services: Providing rapid response and mitigation services for projects facing security threats, minimizing downtime and protecting assets.

“We are thrilled to bring our world-class security expertise to foster a secure and trusted blockchain ecosystem in the region, fully supporting ADBC’s vision of driving innovation and positioning Abu Dhabi as a global leader in blockchain technology and decentralized ecosystems”, said Thanh Nguyen, Founder of Verichains.

The Abu Dhabi Blockchain Center has signed several partnerships over the past few months. One of them was with Aethir to push forward AI, blockchain and gaming startups.

UAE among the top 10 global Blockchain countries with 340 patents

UAE among the top 10 global Blockchain countries with 340 patents

In a recent study by ApeX exchange the UAE came in among the top 10 globally ranked countries for blockchain and crypto technology. The UAE had a score of 73.2 with 340 blockchain patents. UAE also has 414 blockchain-related jobs, providing opportunities in a budding ecosystem.

Singapore took the lead, with the highest composite score of 85.4, with over 2,400 jobs related to blockchain technologies. Additionally, it has one of the largest concentrations of crypto exchanges globally, with 81 platforms.

Hong Kong ranks second in blockchain and cryptocurrency technology with a composite score of 82.7. Its financial infrastructure integrates blockchain seamlessly, supported by more than 1,100 jobs in blockchain technologies and a strong presence of crypto exchanges.

Estonia ranks third with a composite score of 81.5. It has the smallest population among the countries studied but still achieves impressive results with 95 blockchain patents, 149 blockchain-related jobs, and 52 crypto exchanges.

Switzerland secures fourth place in blockchain and cryptocurrency technology, with a score of 80.2. The country’s leadership in decentralized finance is backed by 440 blockchain-related jobs and 32 crypto exchanges.

The United States is fifth, scoring 79.8, and leading the way in blockchain and cryptocurrency technology, achieving the highest numbers across all key metrics. With 32,000 blockchain patents and more than 17,000 jobs related to blockchain available. The country hosts 166 crypto exchanges, providing platforms for trading and utilizing cryptocurrencies.

Canada ranks sixth in blockchain and cryptocurrency technology, with a score of 77.3. The country offers over 1,200 blockchain-related jobs, which shows the demand for skilled professionals in the sector. It also has 1,200 blockchain patents, while its 32 crypto exchanges provide ample platforms for cryptocurrency transactions.

Moroccan crypto regulation aligns with G20 recommendations

Moroccan crypto regulation aligns with G20 recommendations

Once again the Governor of Bank Al-Maghrib (BAM), Abdellatif Jouahri, has spoken about the crypto assets regulatory framework that the country will soon adopt noting that it will align with G20 recommendations. In a press conference this week, during the BAM’s council for 2024, he noted that the crypto framework will manage the use of crypto assets while encouraging innovation in the financial sector.

Last month the Governor also noted that the crypto framework was in the adoption phase. Morocco has been working on this crypto framework since 2022.

Jouahri said that the regulation aligns with the latest G20 recommendations. It also addresses the financial risks linked to crypto-assets.  

“We want to regulate the use of crypto-assets without hindering the innovation that may arise from this ecosystem,” Jouahri said.  

The governor explained that the framework was developed with technical assistance from the International Monetary Fund (IMF) and the World Bank. It seeks to balance two priorities; ensuring a secure and well-regulated environment and fostering innovation.  

The drafting process included broad consultations with national and international institutions, as well as economic stakeholders. “We engaged all relevant parties to create this framework. This approach ensures effective adoption and minimizes uncertainties,” Jouahri added.  

In September 2024, Chainalysis in its 2024 Geography of Cryptocurrency report covering the MENA region noted that MENA is the seventh largest crypto market globally in 2024 with the biggest two crypto countries being Turkey and Morocco. Turkey held 11th position while Morocco 27th where Turkey capture $137 billion and Morocco $12.7 billion.

Phoenix Group UAE crypto entity Founder steps down

Phoenix Group UAE crypto entity Founder steps down

Phoenix Group, a cryptocurrency, blockchain, and Web 3 company and the first UAE home-grown cryptocurrency firm to be listed on the Abu Dhabi Securities Exchange, announced that is former CEO and co-founder, Seyed Mohammad Alizadehfard (Bijan), has stepped down and been replaced by Munaf Ali, a co-founder as well who previously held the position of Group Managing Director.

As per the press release, Seyed Mohammad Alizadehfard (Bijan), will step down to focus on expanding and managing his investment fund, Cypher Capital but will continue to be involved with Phoenix Group as a major shareholder and as a trusted key advisor to Phoenix.

Munaf Ali who has been well versed in the crypto, digital asset and blockchain field, will focus his efforts on cultivating strong relationships with institutional players to capitalize on the opportunities that lie ahead in the evolving cryptocurrency and blockchain landscape. Phoenix is already working with leading investment banks and crypto advisers on possible dual listing opportunities in favourable international jurisdictions for 2025.

“I want to extend my deepest thanks to Bijan for being my co-founder and for his successful stewardship in guiding Phoenix Group from a private company to our listing on the ADX. We have worked together since we founded Phoenix and grown it into a listed billion-dollar company. Our strong relationship will continue, a CEO could not wish for a better advisor who will continue to bring opportunities to our door.”

“Taking on the role of CEO at Phoenix Group represents an incredible opportunity to lead this forward-thinking company during a time of unprecedented growth,” continued Munaf. “My extensive experience and background in banking and finance equips me to navigate the complexities of our industry as the worlds of traditional and digital assets move closer together, allowing us to position Phoenix Group for success. Looking ahead, we are exploring dual listing opportunities including on NASDAQ in 2025 as we continue to build our global presence.”

Seyed Mohammad Alizadehfard, the outgoing CEO and co-founder, will continue to play a vital role in the company as a valued advisor and shareholder. “While I transition from the CEO role, I am dedicated to supporting Munaf and the team as we embark on the next stage of Phoenix’s journey. My knowledge and expertise in cryptocurrency, combined with Munaf’s institutional background, will ensure that Phoenix Group remains at the forefront of our industry both here in UAE and on the global stage” he stated.