MEDGULF UAE introduces blockchain and AI solutions

MEDGULF UAE introduces blockchain and AI solutions

MEDGULF UAE has recently promoted a campaign on its social media platforms noting that AI and blockchain technologies are transforming the insurance sector by enhancing transparency, efficiency, and consumer protection.

For those who are interested as per their post, they can contact MEDGULF UAE for support.

MEDGULF Saudi in 2024 partnered with iO Health, which develops AI and digital solutions. As per the announcement at the time, iO Health will collaborate with MEDGULF to bring forward transformative, AI-driven innovations that will reshape patient care, optimize insurance services, and enhance overall healthcare experiences.

Together, the two organizations aim to create a next-generation health insurance model, tailored to meet the dynamic needs of today’s healthcare landscape in Saudi Arabia and beyond. By leveraging AI and advanced data analytics, this partnership is designed to empower healthcare providers and insurers to offer timely, effective care, significantly improving the quality of healthcare delivery.

By harnessing iO Health’s expertise in AI and digitization, MEDGULF will be able to deliver personalized, data-driven health insurance solutions, allowing for greater precision in healthcare recommendations and patient engagement. With these capabilities, iO Health and MEDGULF aim to address key healthcare challenges, facilitating preventive care and managing patient risk more proactively.

In addition within the UAE, The DFSA ( Dubai Financial Services Authority) the regulatory arm of Dubai’s International Financial center announced that it would be updating its crypto assets regulatory framework with new amendments that would cover crypto assets, crypto custody DeFi, stablecoins, crypto investment funds money laundering and terrorist financing, as well as blockchain and crypto in insurance.

One of the most interesting topics mentioned by DFSA was utilization of Blockchain and crypto in insurance.

The DFSA noted in their consultation paper that given that crypto tokens are being discussed in the context of insurance including the utilization of DLT (Distributed Ledger Technology), for insurance, as well as crypto tokens for denominating policies, receiving premiums and paying out claims, even underwriting risks in crypto market, has prompted DFSA to seek feedback.

In parallel BCG  published an article on how insurance firms are utilizing metaverse and blockchain in their operations, and how this trend will grow.

According to BCG some firms use blockchain records to process claims and detect fraud, while others deploy the technology to offer customized insurance products. It is noteworthy that UAE’s Ministry of Health has utilized blockchain technology for some time now.

BCG believes there are six strategic opportunities for the insurance industry after BCG evaluated leading insurance companies on 43 relevant dimensions and found that insurance companies were not only willing but it was feasible for them to do so.

Today with this announcement by MEDGULF UAE, it seems insurance companies in the UAE have started to implement Blockchain in their offerings.

Greengage completes debt instrument transaction on the Coinbase Diamond tokenization platform

Greengage completes debt instrument transaction on the Coinbase Diamond tokenization platform

Greengage & Co. Limited, a digital finance firm, has completed the first external debt instrument transaction on the Coinbase Diamond tokenization platform, operating under the regulatory oversight of the Abu Dhabi Global Market (ADGM).


The transaction represents a key development for Project Diamond, which seeks to integrate blockchain technology with asset management. Project Diamond leverages smart contracts to improve transparency and efficiency in financial systems.

“The successful completion of this transaction is a testament to Coinbase’s mission of creating an open financial system,” Marcel Kasumovich, Deputy CIO at Coinbase Asset Management, commented.

“This collaboration with Greengage under the purview of ADGM allows us to innovate responsibly, ensuring that technological advancements align with regulatory compliance and investor protection.”

According to Greengage’s press release, the deal was executed under ADGM’s regulatory framework, which balances innovation with strict standards. ADGM supports financial technologies aimed at sustainable and inclusive solutions.

“Our collaboration with Coinbase on this transaction exemplifies Greengage’s commitment to driving sustainability in the digital finance sector,” said Sean Kiernan, CEO at Greengage & Co.

“By combining innovative blockchain solutions with a clear focus on SME lending, we are proud to contribute to a more transparent and efficient financial ecosystem.”

DRIFE decentralized ride hailing platform partners with Coinlist to test new Share2Earn campaign

DRIFE decentralized ride hailing platform partners with Coinlist to test new Share2Earn campaign

DRIFE, Web3 DePin (Decentralized Physical Infrastructure Provider) built on Sui Blockchain, operating a decentralized ride-hailing application in India and UAE, has collaborated with CoinList, the premiere token launch platform, to launch its incentivized testnet for DRIFE Share2Earn location data campaign on DRIFE app.


Users who participate will earn tokens by sharing their location data on the DRIFE App as they commute. The dynamic reward system tracks participants’ contributions based on the Commute & Galxe leaderboard standings.


DRIFE and CoinList will work together to test the new Share2Earn campaign before it is rolled out to the general public. The collaboration reflects the company’s involvement with its community as it develops innovative products and features, and is designed to attract a broader range of participants and test DRIFE’s network capabilities. Users can earn rewards through the Share2Earn program while contributing to the development and testing of the platform.


The collaboration also showcases the importance of decentralization, community engagement, and data sharing in the ride-hailing sector. It also highlights DRIFE’s commitment to transparency, user empowerment, and innovative monetization of data using blockchain technology.


Participating in the DRIFE CoinList incentivized Testnet program will help enhance location-based services and improve service quality with community feedback and testing. This is especially significant, given that DRIFE is not just designed to enhance the ride hailing experience, but also to monetize vehicle data, which will unlock new services, experiences, and economic opportunities for users.


Firdosh Sheikh, Founder and CEO of DRIFE states, “We are thrilled to team up with CoinList for this incentivized testnet program. This collaboration not only validates our vision for a decentralized ride-hailing ecosystem, but also empowers our community to play an active role in shaping the future of transportation.”

Reward tokens are on the SUI chain and will be available for claim post TGE, with a weekly linear unlock over a 3-month period.
Participation in this campaign is open to individuals from across the globe, with the exception of residents or citizens from the following countries: United Arab Emirates (UAE), Pakistan, Russia, China, Israel, the United States (US), and Palestine. This restriction is in place due to regulatory and compliance requirements. Individuals from all other eligible countries are welcome to participate, subject to meeting the campaign’s terms and conditions.

UAE travelers on EasyMyTrip can purchase carbon credits with blockchain BNZ Green platform

UAE travelers on EasyMyTrip can purchase carbon credits with blockchain BNZ Green platform

UAE based EaseMyTrip.ae, an online travel tech platform has partnered with BNZ Green, a sustainable technology solutions provider, to foster eco-friendly travel choices for the UAE travelers using its blockchain platform. This collaboration marks a significant milestone in EaseMyTrip’s commitment to promoting eco-friendly green travel and reducing the environmental impact of the tourism industry.

EaseMyTrip will integrate BNZ Green’s cutting-edge APIs into its booking platform. All of this will be provided through a seamless sync of a blockchain-based carbon offset program, enabling travelers to purchase carbon credits directly through the platform and receive verifiable certificates stored on a secure blockchain. The users will also have real-time access to carbon emission calculations which will make them aware of their flight’s carbon footprint. In the broader sense, this initiative would create responsible travelers that are committed to doing their bit for the environment.

BNZ Green Technologies is an innovator in climate-tech, dedicated to helping organizations achieve sustainability goals with advanced, tech-driven solutions. Their proprietary platform, BNZ X, leverages blockchain to manage and trade climate commodities, including carbon credits, International Renewable Energy Certificates (IRECs), and Extended Producer Responsibility credits (EPRs), driving impactful change toward a net-zero future. BNZ Green remains at the forefront of climate-tech, committed to redefining sustainability solutions for a greener tomorrow.

Commenting on this initiative, Mr. Rikant Pittie, Co-Founder of EaseMyTrip, stated, “At EaseMyTrip, we recognize our responsibility to promote sustainable travel options. Our partnership with BNZ Green aligns perfectly with our vision to offer innovative solutions that benefit both our customers and the environment. By providing transparent carbon footprint data and easy offset options, we’re empowering our users to make eco-conscious decisions without compromising on their travel experiences.”

Dr. Neha Jain, Co-Founder of BNZ Green, added, “We’re excited to collaborate with EaseMyTrip on this forward-thinking project. By integrating our APIs into their popular platform, we’re bringing sustainable travel options to millions of users. This partnership demonstrates how technology can be leveraged to create meaningful change in the fight against climate change.”

The integration of BNZ Green’s technology into the EaseMyTrip platform is expected to significantly enhance EaseMyTrip’s position as a leader in sustainable travel solutions and cater to the growing demand for eco-friendly travel options among environmentally conscious consumers.

As the travel industry continues to evolve, EaseMyTrip remains committed to innovating and providing solutions that not only meet the needs of modern travellers but also contribute to a more sustainable future for global tourism.

DMCC and Bybit announce 5 blockchain startup winners for Web3 hackathon

DMCC and Bybit announce 5 blockchain startup winners for Web3 hackathon

DMCC, the Dubai Multi Commodities Center and the global crypto exchange Bybit, concluded their second edition of the Middle East’s largest Web3 hackathon focused on pioneering the latest innovations in Web3 with five winning blockchain startups.

With an increased prize pool of USD 160,000, the event saw 15 of the world’s most innovative Web3 startups compete to develop creative technical solutions to a range of challenges at the cutting edge of the sector including tokenisation, AI, Web3 infrastructure, zero-knowledge protocols, digital identity and DePIN (decentralised physical infrastructure networks).

The 15 projects were carefully curated to promote real-world industry solutions, encouraging tangible, practical applications that create meaningful impact. Judges evaluated each project based on creativity, technical implementation, practicality, business potential and impact, focusing on how effectively each project addressed genuine challenges.

The five startup winners included, KelpMe, Trepa, Mavryk Network, Hive and Poppin.

  1. KelpMe – KELP (Key-Loss Protection) is a blockchain-based solution designed to address the loss of private keys and misdirected transactions, which can lead to permanent asset loss. It offers a fully reactive recovery mechanism, allowing users to reclaim assets even after key loss, without needing preemptive backup measures. (USA, UAE, Greece)
  2. Trepa – Trepa is a Telegram-based app that lets users predict majority opinions on any topic through easy prediction pools. Stake tokens, align with the consensus, and earn rewards. Powered by TON blockchain for secure, transparent, and low-cost participation. (South Korea, Singapore)
  3. Mavryk Network – Mavryk Network is the Layer 1 blockchain designed to revolutionize asset ownership and nurture the RWA community building the tokenization of assets for tomorrow. By leveraging RWA tokenization, DeFi applications, and robust infrastructure, Mavryk aims to transform how individuals interact with and leverage tokenized assets. (Dubai, Gibraltar, Singapore, Paris, Kiev, Tel Aviv)
  4. Hive – Hive is building a solution that is leading the compute sharing economy with every home’s GPU. By empowering individuals to share their computing resources, Hive can democratize access to technology. This shift challenges the dominance of big tech and puts the power back into the hands of everyday people. (Abu Dhabi, Belgium)
  5. Poppin – Poppin is a browser extension that turns any webpage into a social hub, allowing users to connect and interact with others on the same webpage through comments, real-time chats, and voice streams. (Turkey)

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, stated, ““By pioneering new solutions in tokenization, AI, and zero-knowledge protocols, the DMCC-Bybit hackathon continues to show why Dubai remains at the forefront of Web3 innovation. With an expanded competition of 15 global start-ups and an increased prize pool of USD 160,000, we are attracting the world’s best talent to Dubai to encourage practical applications and create meaningful impact. This is another great example of the innovation being carried out from within DMCC Crypto Centre, with the support of Bybit and our other dedicated ecosystem partners, as we showcase Dubai’s vast Web3 potential for the benefit of the entire industry.”

Ben Zhou, Co-founder and CEO of Bybit added, “It is safe to say there is such an abundance of Web3 talent here in Dubai. The fierce competition displayed a clear ethos of innovation, so we are proud to work with DMCC to advance Web3 globally. We look forward to seeing all of today’s competitors make their mark on the world of Web3.”

In addition to co-organiser Bybit, the hackathon was held in partnership with DWF Labs, Meezan Ventures, Injective, 1inch, CVVC, Blockchain for Good Alliance and Hacken, each providing key contributions to the programme. Cointelegraph sponsored the event as the media partner, with Superteam UAE, Web3 TV, College DAO, Hackquest, BeWater, Bloc Soc IITD and KEY Difference joining as community partners. 

In November 2023, three Web3 startups were chosen including Pravica, Evai and TimesSwap.

Future Fund Oman supports Blockchain startup Nashid

Future Fund Oman supports Blockchain startup Nashid

Future Fund Oman (FFO), an investment initiative under Oman Investment Authority (OIA), announced its first batch of approved investment projects which included a Blockchain startup, Nashid, a digital identity platform.

With a combined value exceeding US$ 2 billion, these projects include US$ 1.6 billion committed by foreign investors and US$ 571 million contributed by FFO. The investments are expected to create more than 1,600 direct employment opportunities, marking a significant step forward in Oman’s economic diversification and development strategy.

Future Fund Oman launches first wave of investment projects worth over US$ 2 billion. The approved projects span ten key sectors, including technology, manufacturing, tourism, renewable energy, and electric vehicles. In addition, small and medium enterprises (SMEs) and startups will play a prominent role, with investments targeting food, health, financial technology, e-commerce, and more. This comprehensive approach reflects FFO’s commitment to fostering innovation and growth across a broad spectrum of industries, ensuring that both large-scale ventures and emerging businesses contribute to Oman’s economic progress.

Mulham Al Jarf, Deputy President for Investments at Oman Investment Authority, stated that these projects underscore the Fund’s dedication to fulfilling its strategic objectives. These include stimulating local economic growth, fostering collaboration with the private sector, attracting foreign investments, and creating opportunities for Omani businesses and job seekers. He emphasized that these projects represent just the beginning of FFO’s efforts since its establishment in January 2024.

Among the approved projects are transformative initiatives that position Oman as a leader in innovative industries. Notable projects include the United Solar Polysilicon Plant in the SOHAR Port and Freezone, which will be one of the largest polysilicon production facilities in the world and the first of its kind in the Middle East. This facility will produce 100,000 tonnes of polysilicon annually, a critical component for renewable energy industries such as solar panel manufacturing.

Other major partnerships include the IDG Oman Fund, developed in collaboration with China’s IDG Capital, which will focus on ICT, renewable energy, and electric vehicles. Additionally, FFO has also partnered with EW Partners to establish the EWP Oman Fund, which targets key sectors such as ICT, energy, tourism, and agriculture.

Future Fund Oman is also supporting a range of SMEs and startups in partnership with fund managers like Tanmia, ITHCA, Omantel, and Cyfr Capital. These include IO Kitchen, an innovative cloud kitchen featuring over 30 virtual brands; Bima, an online insurance brokerage service; and Qpay, the first licensed Omani entity offering a “buy now, pay later” service. Other groundbreaking projects include BcLear Aligner, an AI-powered solution for dental braces; Nashid, a blockchain-based digital identity platform; and Antom, a digital financial platform that enhances the capabilities of Oman’s fintech ecosystem.

FFO was established in collaboration with the Ministry of Finance with a capital of $5.2 billion, allocated over five years from 2024 to 2028. The Fund strategically excludes investments in oil, gas, and real estate, focusing on growth-oriented sectors aligned with Oman’s Vision 2040.

Interested investors are invited to submit proposals through the dedicated platform, https://futurefund.om/futurefund/

The FSRA’s risk management guidance includes decentralized infrastructures

The FSRA’s risk management guidance includes decentralized infrastructures

The Financial Services Regulatory Authority (FSRA) of ADGM has published its Information Technology (IT) Risk Management Guidance (Guidance), providing a comprehensive and holistic framework for managing technology risks in ADGM’s financial sector which references to decentralized infrastructures which are used by virtual asset exchanges.

The FSRA Guidance reflects extensive industry engagement, following the publication of the FSRA’s Discussion Paper on IT Risk Management and an industry briefing held in February 2024. During this engagement, the FSRA received positive feedback from stakeholders on the Guidance.

It comprises four key sections that identify best practices for IT risk management that entities regulated by the FSRA should consider adopting:

Establishing a Culture of Effective IT Risk Management – covers governance and controls for IT risk, including incident management, audits, and management of IT third party service providers.
Managing an IT Environment – addresses IT asset management, IT infrastructure, systems lifecycle, resilience, and cyber incident response.
Interacting Securely – focuses on system access controls, cryptographic key management, and secure online transactions.
Leveraging Business Embedded Technologies – explores emerging technologies including algorithm-driven solutions like generative artificial intelligence, and decentralized infrastructure solutions such as virtual asset platforms.


The Guidance is aligned with best practices outlined by international standard-setting bodies and financial regulators. The regulatory body of ADGM expects regulated entities will implement the best practices in a manner that is proportionate to their size, complexity, and business activities.

Emmanuel Givanakis, CEO of the ADGM FSRA said: “As technology continues to transform financial services, robust IT risk management becomes increasingly critical. This Guidance reinforces our supervisory focus on IT risk and cybersecurity while supporting innovation in digital finance. It provides practical direction for senior executives, compliance officers, and IT practitioners to strengthen their risk management frameworks. This initiative reflects our commitment to building a resilient and progressive international financial centre in Abu Dhabi.”

Kucoin sponsors Dubai sports council launch Open Padel Cup

Kucoin sponsors Dubai sports council launch Open Padel Cup

KuCoin, aglobal crypto exchange, has announced it will be Title sponsor for Dubai Sports Council’s Open Padel Cup for Government Institutions. Scheduled from December 13 to 15, the Open Padel Cup Championship invites all government institutions across the UAE to participate. To promote amateur participation, professional players registered with clubs or the UAE Padel Association are not eligible, ensuring over 300 Emirati amateurs can take part in this competition.

Padel has been gaining traction in Dubai as a fun and engaging way to promote a healthy lifestyle and enrich the local sports culture. The Dubai Sports Council has recently spearheaded the Padel Cup Tournament initiative, partnering with KuCoin for the event, which is organized by Royal Griffin Event and hosted at JUST PADEL facilities.

As the title sponsor, KuCoin has expressed strong confidence in the economic prospects of the Middle East, particularly the UAE and Dubai, especially regarding the immense potential of the cryptocurrency market. Over the past few years, KuCoin has established many partnerships in Dubai’s vibrant city and has been actively involved in various local activities. Last year, KuCoin sponsored the COP28 Global Climate Change and Green Blockchain Summit and hosted the “KuCoin Green Future Charity Gala Dinner,” supporting various charitable causes.

At the press conference, Harry Chan, the representative from KuCoin highlighted the synergy between sports and blockchain technology, noting that both fields emphasize collaboration and innovation. Padel is a sport that requires high levels of teamwork and strategic thinking, aligns with the decentralized cooperation and innovative spirit of blockchain technology. “We believe that through activities like the Open Padel Cup for Government Institutions, we can better communicate the core values of blockchain technology to the public and inspire more innovative ideas,” said the KuCoin representative, and “help bring in and connect global responsible companies and talents”. This event marks the latest in a series of collaborations by KuCoin in Dubai, underscoring its long-term commitment to the Dubai market.

Fawzia Faridoun, Director of the Community Sports Department at the Dubai Sports Council expressed pleasure in partnering with KuCoin to promote the city’s sports culture and healthy lifestyle, looking forward to deeper cooperation in the future.

Interestingly Kucoin has yet to have a regulated presence in the UAE, while others such as Binance, Crypto.com and other global crypto exchanges have.

American University of Sharjah Blockchain sustainable marketplace wins first place at ICESCO

American University of Sharjah Blockchain sustainable marketplace wins first place at ICESCO

A blockchain sustainable marketplace concept developed by students from American University of Sharjah (AUS) won first place at the Islamic World Educational, Scientific and Cultural Organization’s (ICESCO) Youth Climate Leaders Camp – Arab Chapter held at Sharjah Research Technology and Innovation Park recently. Called Thimmar, this innovative platform connects consumers with farming communities and offers AI-optimized grocery subscriptions to cut food waste and connect. It will debut in the ICESCO Pavilion in COP29 in Azerbaijan this month. 

Thimaar, which aligns with two key areas of the UAE Year of Sustainability 2024—responsible consumption and planting wisely—brings this year’s slogan, “Plan to Action,” to life. It also contributes to the United Nations Sustainable Development Goals: No Hunger, Good Health and Well-being, Sustainable Cities and Communities, Responsible Consumption and Production, Climate Action, and Partnerships for the Goals.

“Our motto is reach, relive and reward. Through the platform, AI-calculated portions will help our customers to minimize food waste. They will also virtually connect with the farmers who grow their food, experiencing organic farming from home while also supporting the organic agriculture industry through micro-financing,” said Izma Fatima, an AUS international studies student who presented the concept on behalf of her team. “Additionally, customers receive loyalty points and gifts with organic and food waste collection. Waste is repurposed to benefit local organic farming communities in Sharjah, in alignment with the UAE’s efforts to reduce waste by 50 percent by 2030.”

By embracing a circular economy model, Fatima noted that Thimaar achieves three key goals: “making organic and sustainably produced products accessible, promoting a culture of organic farming, and minimizing food waste.”

Emphasizing a bottom-up approach that fosters healthy consumer habits, rather than flooding the market with sustainable products that have low demand, the team—comprising seven female students from Oman, Qatar, Sudan and the UAE—focused on female homemakers in the region as their target.

“Women are responsible for making the primary household consumption decisions and are seeking healthy, sustainable options for their families. However, they often face barriers to organic farming, including opposing trends, limited availability and accessibility, and a lack of time and resources. The organic food market in the UAE is projected to reach $500 million by 2025, with female homemakers representing about 10 percent of that market. For Thimaar, this equates to a target market of approximately $50 million. By tapping into this market, the platform not only aligns with the UAE’s sustainability initiatives but also offers a scalable solution that meets the growing demand for healthy, sustainable food options,” said Fatima.

Proposed key partners for the platform would include organic farms and markets, sustainability-focused brands and local governments.

Developing Thimaar followed a thorough process of study that included field visits and discussions with ICESCO, Sheraa, Shajar and Manbat, who provided the student team with access to networks and contacts to leverage support for the initiative.

“We visited Manbat and Shajar, two projects in Sharjah, that explore cultivation practices to maximize organic production through sustainable methods in this region. Facilitating these ideas was a central focus of our project proposal. We also had the pleasure of learning from professors from leading universities across the UAE specializing in economics, sustainable engineering, environmental philosophy, and environmental, social and governance experts, about the popular trends and technologies that focus on the climate challenges unique to the region,” said Fatima.  

Having designed and presented the elevator pitch for the final project, Fatima highlighted how the multidisciplinary education she received at AUS contributed to her ability to approach the project from diverse perspectives.

DMCC Future of trade report calls for incorporating Blockchain and AI in Gold trade

DMCC Future of trade report calls for incorporating Blockchain and AI in Gold trade

UAE based DMCC,an international business district that drives the flow of global trade through Dubai, in its special edition of its Future of Trade thought leadership report called for the incorporation of AI and Blockchain in the trade of precious metals.

The report predicts the rise of an “Asian Century” for gold, with a particular focus on the development of a new gold economic corridor among BRICS nations, including the UAE, that can provide an alternative to traditional gold trade centers.

DMCC’s findings forecast the UAE becoming one of the most important hubs for the gold trade in coming years. This position was significantly bolstered by the UAE leapfrogging the United Kingdom in 2023 to become the second-largest gold trade hub worldwide, with over USD 129 billion in total trade – a rise of 36 per cent on the past year.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said, “In recent years, we have witnessed historic shifts in the precious metals market, driven by Western sanctions that have forced record buying of gold by central banks and a rethink by many countries when it comes to their reliance on the US dollar. We are seeing a new gold corridor form across Asia, with Dubai at its centre – exemplified by the UAE’s rise to become the world’s second-largest gold trading hub last year. Our latest Future of Trade report underscores Dubai’s pivotal role in this transformation, as we strengthen its position as the world’s leading precious metals hub, attract key industry players and support our members to unlock new growth opportunities.”

Feryal Ahmadi, Chief Operating Officer, DMCC, said: “Our latest Future of Trade report on precious metals is a vital resource for all stakeholders involved in the industry and sets the scene perfectly for the 12th edition of our Dubai Precious Metals Conference. As the report highlights, this is a time of opportunity and challenge, and as the gold industry navigates its place in a rapidly evolving landscape, we look forward to working with our members and partners as we continue to build the world’s premier ecosystem for the global precious metals trade from Dubai.”

The report, titled “Trade, Technology and Markets in Transition,” provides key insights into the current state of the global gold and silver markets. The report highlights that geopolitical challenges including sanctions against Russia have shaken the global financial economy, prompting countries worldwide to reconsider their reliance on the US dollar and the safety of their gold holdings. As a result, central banks worldwide have ramped up their gold purchasing activities and repatriated US-stored bullion to diversify away from the dollar, with some even using gold in lieu of the US dollar in trade transactions. This shift is driving gold prices to unprecedented levels, creating a ripple effect across the global economy.

The report explores the growing importance of technological innovation within the precious metals market. From AI-driven exploration and autonomous mining techniques to blockchain-based tracking systems and digital gold investment products, technology is playing a crucial role in reshaping how gold is sourced, traded and invested in.

The Future of Trade report outlines a number of important recommendations for governments and businesses to help drive the evolution of the industry and shape the next phase of its growth:

The report calls for investing in AI and technology. Miners should invest in AI and advanced technologies to reduce costs, improve production and enhance ESG standards. Leveraging technology can also help artisanal miners eliminate mercury use.

The report also adds that players should boost digital Innovation and Access for Emerging Markets. Investment companies and fintechs should develop digital products that enable small-scale and young investors in emerging markets to access gold trading, expanding market participation.

Finally the report called for establishing Global Standards for Digital and Blockchain Solutions. It noted that industry participants should collaborate to create global standards for digital gold products and blockchain systems to improve transparency, eliminate pricing inconsistencies and reduce reliance on derivative products.

To access the full special edition report by DMCC, please visit: https://www.futureoftrade.com/