Global Blockchain show in Dubai to welcome 300 speakers

Global Blockchain show in Dubai to welcome 300 speakers

VAP Group,  a leader in Web3 & Crypto Innovation, announced it will be hosting the biggest blockchain event in the heart of Dubai at Grand Hyatt Dubai from 16-17 April 2024, the Global Blockchain Show.

The Global Blockchain show will welcome more than 7000 attendees, 300 speakers, 120 sponsors, and 3000 firms who will unite from different regions of the world to network, learn, experience leadership sessions, and showcase their projects and products with a common goal of promoting blockchain and web3 industry.

Among the attendees and speakers, the Global Blockchain Show Dubai will have C-level executives, managers, consultants, corporates, investors, and even governments who will stand to gain valuable insights from this blockchain event and participate in networking opportunities to build collaborations and partnerships.

VAP Group has been leading the AI and Blockchain consulting domain for more than a decade now and is committed to promoting blockchain innovation among young entrepreneurs and crypto enthusiasts. The organization has strategically chosen Dubai for the GlobalBlockchainShow2024 as the city boasts a futuristic and innovative atmosphere with government support for the decentralized economy and a global blockchain hub that provides access to professionals and experts in this field.

Attendees will have the opportunity to hear from an esteemed lineup of industry leaders. Lennix Lai, the Chief Commercial Officer of OKX, brings over 15 years of crypto and financial expertise, leading OKX’s evolution into a DeFi and NFT powerhouse. Additionally, speakers like Alex Fazel of SwissBorg, David Palmer from Vodafone, will offer their insights on the transformative potential of blockchain across various sectors.

Vishal Parmar, the CEO of VAP Group, said, “At the Global Blockchain Show in Dubai, we’re shaping the future of Blockchain and Web3. Beyond gathering diverse insights, we’re uniting to drive industry transformation and shape tomorrow’s possibilities.”

There will be engaging networking opportunities and panel discussions on Blockchain advancements and production cases.

Among other Blockchain events, the Global Blockchain Show wins the race with its unique networking opportunities. While most events keep this session for the end of the show, the Global Blockchain Show will have networking sessions throughout the event starting from day one.

Global Blockchain Show Dubai is all set to be a powerhouse to craft engaging digital experiences and captivate global audiences where young entrepreneurs and investors can become trendsetters in their journey through the billion-dollar blockchain and crypto industry, which has recently become popular on exponential levels.

The event will also hold an exclusive after-party on the hottest beachfront of White Beach, Dubai, which features ultra-luxurious cabanas, restaurants, and infinity pools. Even during the after-party, attendees can build collaborations and partnerships with blockchain professionals and organizations to catapult development, drive growth, and create employment opportunities.

Secure your place today and become part of a global movement shaping the future of blockchain innovation. To book tickets: https://www.globalblockchainshow.com/tickets/

UAE virtual asset regulator to regulate tokenization, TradeFi and DeFi in 2024

UAE virtual asset regulator to regulate tokenization, TradeFi and DeFi in 2024

Dubai’s virtual asset regulator (VARA) has not only entered the social media scene but has announced its plans for 2024 which will include enhancements to its regulatory infrastructure with introduction of real world use cases for tokenized fractionalized market participation using Blockchain as well as TradeFi, DeFi regulations while it has phased out its MVP licensing program.

As per Mathew White, CEO of Dubai’s VARA, “The industry can expect to see enhancements to the regulatory infrastructure for trading, devising innovative market structures for seamless transactions, and activating real-world use cases for secure, tokenized and fractionalized market participation using trustless blockchain networks.”

Dubai’s virtual asset regulator also discussed its achievements in 2023. VARA, announced that in 2023 it awarded 19 regulated VASP licenses, of which 11 are already operational. In addition 72 initial approvals have been issued to new entrants and have commenced licensing process.

The regulator also stated that it had issued 133 application acknowledgement notices which is a reflection of its proactive and responsive approach.

A total of 116 Proprietary Trading NOCs have been issued, with an additional 37 assessed and ready to be issued while 94 non-VA activity confirmation notices were also issued.

Matthew White, CEO of VARA, commented: “As we open 2024, VARA is poised to accelerate its comprehensive focus on bolstering the infrastructure, broadening the spread and deepening the resilience of our VA ecosystem. Our commitment remains ensuring a secure and innovative environment for service providers and consumers alike. To this end, the industry can expect to see enhancements to the regulatory infrastructure for trading, devising innovative market structures for seamless transactions, and activating real-world use cases for secure, tokenized and fractionalized market participation using trustless blockchain networks.

He adds, “This endeavor involves close collaboration with market participants, particularly the mix of TradFi and native crypto with regulatory peers, underpinned by best practice protocols including those prescribed by FATF. Our goalpost remains unchanged; we started this journey 22 months ago and in this short space of time have built a strong foundation that we are in a position to accelerate from. 2024 will be the year to further Dubai’s position as the global leader in the new economy underpinned by a regulated VA ecosystem, contributing substantially to the GDP.”

When it comes to decentralized Finance, White in the press release, states, “As the lines between traditional finance and decentralized finance blur, VARA recognizes the importance of progressive technology and the need to fast-track maturity in investor and consumer protection, along with managing cross-border risks. We continue to foster awareness, education, and a collective recognition of our evolving digital landscape, leveraging marketing as a vehicle to enhance the impact of our policy-making and regulatory efforts.”

In addition the virtual asset regulator also notes that its Minimum Viable Product [MVP] Licensing program is being phased out as it has served the purpose for which it was initiated in a period where the full market regulations had not been formally launched.

All this will be done in alignment with international regulatory standards, especially FATF. VARA will collaborate with traditional finance regulators, such as the Central Bank of UAE (CBUAE) and the Emirates Securities and Commodities Authority (SCA), syncing efforts for FATF-compliant security in cross-border asset flows.

DIFC prepares digital asset inheritance plans for family offices and HNWIs

DIFC prepares digital asset inheritance plans for family offices and HNWIs

In an interesting move towards including digital assets into the wealth management value chain, DIFC Innovation Hub, global Swiss wealth management Julius Baer and Euroclear a financial infrastructure market firm, have come together to explore how family offices and HNWI ( High Net Worth Individuals) can best use technology to expand their digital asset portfolios as well as apply multi generation inheritance.

As per a press release, DIFC’s Innovation Hub experts will work closely with Julius Baer’s global innovation team and Euroclear’s innovation Centre of excellence for a three-month sprint that will result in a white paper detailing a future-oriented solution for succession planning relating tokenization applied to multi-generational inheritance. The analysis and subsequent findings will serve as a blueprint for other geographies looking to turn similar challenges into opportunities. 

It is estimated that AED 3.67trn (USD 1trn) in assets will be transferred to the next generation in the Middle East over the coming decade. However, only 24 per cent of High-Net-Worth Individuals have a full estate plan in place. Fast adoption of various digital asset classes by individuals and businesses also poses potential complexities to a seamless execution of estate plans currently in place. The DIFC Innovation Hub, Julius Baer and Euroclear collaboration will help bring tangible solutions to this global challenge.

Mohammad Alblooshi, Chief Executive Officer, DIFC Innovation Hub, commented, “The region is witnessing a trend of generational wealth being deployed across a variety of digital asset classes to diversify and future-proof their portfolios. By bringing together global leading entities across wealth management, financial services providers, tech disruptors and regulators, this newly launched innovation project will help transform one of the largest, underserved markets in the region and open doors to a more inclusive and tech enabled future for family businesses and the wealth management industry.”

Alireza Valizadeh, CEO, Julius Baer (Middle East) Ltd, added, “Generational wealth transfer is gaining momentum in the UAE, and we, as Julius Baer, are in a unique position to advise our clients having had our origins as a family business. On the occasion of Julius Baer’s 20-year anniversary in Dubai, I am hoping that this innovation project will showcase how we can work together to stay relevant to our future clients and provide a vision highlighting the evolution of the private banking industry especially with the onset of digital assets.”

Philippe Laurensy, Head of Group Strategy, Product Management and Innovation at Euroclear, noted, “As a trusted financial market infrastructure we have a strong commitment to collaborate with the market providing innovative solutions to our clients. We are extremely pleased to be working with DIFC Innovation Hub and Julius Baer on what we see as a transformative journey to address market gaps and create efficiencies by harnessing the power of tokenization. By validating and unlocking the benefits of smart contracts we have the potential to redefine the narrative of wealth management, creating solutions that could span generations.”

The DIFC Innovation Hub has been attracting as well more and more Blockchain, digital assets, Web3 companies from around the globe and locally.

SC Ventures to invest in digital assets, SMEs, the online economy from its office in Abu Dhabi

SC Ventures to invest in digital assets, SMEs, the online economy from its office in Abu Dhabi

Standard Chartered’s  venture capital firm, SC Ventures, opens office in ADGM (Abu Dhabi Global Market) Abu Dhabi UAE, after setting up a digital asset joint venture with Japanese SBI Holdings in the UAE.

SC Ventures office will engage the fintech and startup ecosystem in Abu Dhabi and the region; identify venture-building capabilities and partnerships with UAE’s venture capital community; invest in promising growth opportunities, collaborate with local universities and explore new technologies and business trends. The ADGM office will follow SC Ventures’ four high-conviction themes that include Online Economy & Lifestyle, Digital Assets, SMEs & World Trade and Sustainability and inclusion.

SC Ventures aims to tap into the region’s vibrant technology and business innovation ecosystem, venture building capabilities and access to local talent. Gautam Jain, member of SC Ventures, is slated to lead the new Abu Dhabi office.

Gautum Jain stated, “UAE’s global tech ecosystem experienced a 134% growth in Ecosystem Value — the sixth fastest globally and the biggest in the Middle East and North African region. SC Ventures sees strong opportunities in the regions’ potential to help rewire the DNA in banking through its top-notch talent and capabilities in venture building and investment mandate — specifically in the areas of fintech, digital assets and data.”

He added, “In Q3 2023, ADGM’s assets under management (AUM) increased 52% from Q3 2022. This remarkable growth has solidified ADGM’s reputation as a trusted financial hub. SC Ventures looks forward to tapping into this community of innovation as we continue to rewire the DNA in banking to best serve clients and meet society’s needs.”

“We are pleased to see additional international financial institutions choosing ADGM and Abu Dhabi as their home for business development and regional growth. We welcome SC Ventures’ strategic decision, and we look forward to witnessing its positive contributions to the financial ecosystem as well as working with broader eco-system including Hub 71, the venture capital community in ADGM and beyond, as it continues to thrive and expand its business operations and services offerings,” said Arvind Ramamurthy, Chief of Market Development at ADGM.

“ ADGM is a hotbed of innovation as the UAE is methodically building the ecosystem, aiming to develop more than 8,000 SMEs and startups by 2030 and with the goal of creating 20 startups valued at more than US$1 billion by 2031 as part of its Entrepreneurial Nation initiative. We are excited to join and will contribute to the best of our abilities, as we continue to build our portfolio of ventures to rewire the DNA of banking and financial services in the region,” said Alex Manson, CEO, SC Ventures. 

Blockchain consulting firm enters MENA with ivolve technologies in UAE

Blockchain consulting firm enters MENA with ivolve technologies in UAE

Nisum is a global digital consulting firm based in Silicon Valley which leverages over 20 years of industry expertise in digital strategy and engineering, data-driven insights and analytics, blockchain solutions, customer-centric experiences, business agility, and software development, has entered the Middle East market through a partnership with iVolve.

This strategic partnership between Nisum and iVolve unites a strong duo of global technology firms offering their clients access to a wide array of industry-leading services, including private and public cloud consulting, Kubernetes and OpenShift consulting, DevOps and application modernization, cyber security services, and more.

iVolve Technologies is a UAE cloud consulting company specializing in a wide range of cutting-edge cloud-native technologies. With a focus on Application Modernization, Automation, Kubernetes, Red Hat OpenShift, DevOps, GitOps, DR, Migrations, and Public Cloud solutions.

“iVolve’s established regional footprint and offices in the UAE and KSA align seamlessly with Nisum’s goals, fostering collaboration and innovation tailored to local needs. iVolve’s advanced cloud capabilities enhance Nisum’s technological landscape, providing a competitive edge. In return, Nisum contributes specialized expertise, particularly in application development. The partnership creates a robust value proposition for both entities,” said Salman Kassim Mohammady, Pakistan Country Head at Nisum.

“At iVolve Technologies, we’re thrilled to announce our strategic partnership with Nisum. This collaboration propels us to provide clients with cutting-edge technology to deliver business applications, amplified software development services, and the unmatched expertise of Nisum’s seasoned architect team. We eagerly anticipate the growth of our partnership and the collective impact on our clients,” said Mr. Amin Ali Amin, COO & MD of iVolve Technologies.

This strategic partnership marks a new era for Nisum and iVolve as they join forces to contribute to the growth and technological advancement of the Saudi Arabian and Middle Eastern markets.

HAQQ Blockchain and GoMeat to authenticate Halal meat

HAQQ Blockchain and GoMeat to authenticate Halal meat

The Haqq Islamic Blockchain platform has entered into another partnership. This time it is with U.S. based GoMeat, a blockchain delivery application.

According to the latest data, the global blockchain-based agriculture and food supply chain industry is currently valued at around $150 million, and it’s projected to grow at a CAGR of 48.1% by 2025, reaching nearly $948 million. This partnership between GoMeat and HAQQ aims to onboard more local stores into this growing market using blockchain’ s advanced capabilities.

Although the US halal food and meat market is rapidly growing, it’s still significantly fragmented. There’s a real challenge for consumers living in non-Muslim communities to find halal food options regularly, and their options are often very limited. At the same time, local halal stores face scalability issues – they often cannot attract consumers outside their local communities. This partnership will try to solve these specific challenges and create a convenient way to access halal options. 

As a part of the collaboration, the GoMeat app will implement new features and functionalities possible thanks to the advanced solutions of the HAQQ network. The application’s UI will go through a complete overhaul, introducing more interactive, intuitive, and user-friendly elements. The ultimate goal of the revamped GoMeat app will be to streamline the entire halal purchasing process, from selecting the product to making the final payment.

The app will also integrate the HAQQ’s Web3 wallet, providing wider crypto payment options to the consumers. Previously, only GoMeat’s native token $GOMT was available for payments – now, they can use HAQQ’s native token, Islamic Coin ($ISLM), which is listed on several crypto exchanges, including KuCoin.

Through HAQQ’s blockchain framework, the GoMeat app will launch a new halal meat and food authentication system. Consumers will be able to verify and trace the halal certification process of the suppliers. This verification is critical for the Muslim community – halal authenticity is one of the core aspects of their purchase decision.

The app will also have several new AI-driven features. The HAQQ network recently integrated SingularityNET, an industry-leading decentralized AI platform. This integration sets up ethical and regulatory compliance in transactions, and these capabilities will now be extended to the GoMeat app.

Blockchain, and AI startups gravitate to DIFC AI Web3 hub

Blockchain, and AI startups gravitate to DIFC AI Web3 hub

Slowly but surely, the DIFC (Dubai International Financial Center) innovation hub has been welcoming Web3, Blockchain, AI entities and investor companies into their ecosystem. The DIFC Innovation Hub aims to have 500 entities by 2028.

So far they have welcomed in a dozen or more startups and investor partners. Most recently AI and Blockchain Company Mentat Technologies joined the AI &Web3 Campus. In November Mentat announced that it will develop an open source SAP connector and Enablement API to the Algorand blockchain.

Another company that has recently joined is Kodin Soft, which develops high tech software solution. The company is working on several projects including TELESCOPELIVE which empowers astrophotography and remote imaging allowing space enthusiasts to experience the night sky like never before.

Even Avail, a Blockchain project spun off of Polygon in 2023 aiming to handle data storage and verification for blockchains, which launched the data attestation bridge test net to secure data off-chain has joined. The bridge connected to Ethereum, and can be used by both zero-knowledge and optimistic rollups that use Ethereum as a base layer.

Avail aims to be a solution for layer 2s and 3s to publish data off-chain, to reduce the high transaction fees that often come from posting data on the main Ethereum blockchain.

Other companies joining include HoloFair, a metaverse platform. HoloFair facilitates seamless integration of gamification, e-commerce, and interactive elements, ensuring an immersive and data-rich metaverse experience.

Even AI startup Zarqa, incubated by SingularityNET, and specializing in Neural Symbolic Large Language Models (#LLMs) has come on board.. Leveraging engineering expertise, Zarqa pioneers the next generation of LLMs with scaled neural-symbolic AI, reflecting technical innovation and steadfast leadership.

CyberNet AI also joined the Dubai AI & Web3 Campus. Cybernet pioneers virtual voice robot services through a seamless SaaS model, featuring AIDOS, an Artificial Intelligence Dialog Operating System. Offering versatile applications in debt collection, NPS surveys, and telemarketing, Cybernet’s solution boasts an impressive 82% collection efficiency while reducing operational costs by 1.5 times.

Then there are the incubators and investors that have joined the AI Web3 campus at DIFC Innovation Hub. Metafour Labs has come in dedicated to elevating early-stage tech ventures specializing in blockchain, and Web3. The company provides strategic advisory services for successful launches and scaling.

Ibtikar a business consultancy firm for Web3 joined. While DIFC Innovation Hub and AI Web3 campus partnered with Middle East Venture Partners (MEVP), MENA venture capital firm dedicated to supporting innovative tech companies in the Middle East.

In addition to those mentioned above many other entities have joined the Web3 AI Campus as DIFC issues commercial licenses at 90% subsidies.  DIFC aims towards having a vibrant ecosystem of DLT, AI, and Web3 entities.

According to DIFC, “The initiative aims to propel Dubai’s journey towards becoming a digital society, fostering collaboration, innovation, and global talent attraction.”

The AI and Web 3.0 Campus aspires to become the MENA region’s largest hub for AI and Web3 companies. With a goal of hosting over 500 high-tech companies by 2028, it envisions bringing in $300 million in funds and creating over 3,000 jobs within five years.

Mohammad Alblooshi, CEO of the DIFC Innovation Hub , states that these licenses will elevate Dubai’s position as a preferred destination for tech-focused companies, driving world-class talent and diversified investments to the region.

Maybe this is why South Korean game developer, Wemade, and UAE DIFC Innovation Hub partnered to build WEMIX Play web3 gaming community to support Dubai Program for Gaming 2033.

UAE Foreign trade Minister at Davos: blockchain makes trade more accessible

UAE Foreign trade Minister at Davos: blockchain makes trade more accessible

UAE Minister of State for foreign Trade Thani AlZeyoudi, highlighted at World Economic Forum at Davos 2024 how AI, data analytics and blockchain can make trade smarter, cleaner and more accessible.

In a tweet on X, he noted, “The UAE is leading the charge to digitize global trade. During the Davos session we discussed TradeTech’s trillion dollar promise. I highlighted how AI, data analytics & blockchain can make trade smarter, cleaner & more accessible and how our TradeTech initiative is inspiring action.”

In a tweet prior, Minister Al Thani noted, “Ahead of the WTO (World Trade Organization) MC13 meeting in Abu Dhabi, the UAE is seeking to harness global action to deliver a technologically enabled, accessible and inclusive global trading system. It was great to outline our thinking during DP World’s Strategic Dialogue on Trade at Davos.

He also talked about ISO-backed and digitally enabled, EcoMark which has been approved in UAE allowing MSMEs to showcase their green credentials, whether the sustainability of their products or value chains. He states,” It builds on our COP28 legacy and looks ahead to WTO’s MC13 in Abu Dhabi, where inclusive trade will be a key theme.

At Davos WEF in 2023, the UAE government signed an MOU with WEF (World Economic Forum) to support UAE’s new Blockchain and AI enabled Trade Tech initiative. The initiative was designed to accelerate the digitization of international supply chains, enhance customs procedures, and improve developing countries’ access to the global trading system and, as a result, spur a new era of trade growth.

From the UAE’s side, the MoU was jointly signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), and Prof. Klaus Schwab, WEF Founder and President.

The agreement supported the UAE’s efforts to deliver the initiative’s four key components: a global forum to gather trade, industry and technology leaders to share best-practice; an annual research report into the trade tech landscape, real-life applications and emerging trends; a regulatory sandbox to enable companies and startups to experiment with trade-tech innovations; and an incubator for promising startups in the trade tech space.

This is not the first time Al Thani talks about blockchain or crypto at DAVOS. During WEF in 2023, he spoke on how crypto will play a major role in UAE trade. He was speaking to Bloomberg.

Back in 2023 commenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward;” as he outlined that “the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”

Abu Dhabi based Blockchain Foundation merges with Klaytn to form new Blockchain

Abu Dhabi based Blockchain Foundation merges with Klaytn to form new Blockchain

Finschia, an Abu Dhabi based Blockchain Foundation has announced the merger with Klaytn Foundation, to form a new blockchain mainnet.

The two foundations have submitted their proposals to their respective governance members for open discussion, with voting scheduled from 26 January till 2 February. The governance proposal submitted by Klaytn Foundation can be viewed on the Klaytn Governance Forum.

The chain merge is designed to create a highly competitive mainnet ecosystem by integrating the capabilities of Klaytn and Finschia. The two foundations will form an integrated organization, sharing technologies, services, and business networks, working alongside Kakao, LINE, and other partners who have contributed to the development and ecosystem expansion of their respective mainnets.

As per Finschia blog,” By doing so, we plan to establish ourselves as Asia’s largest Web3 ecosystem, taking the lead to drive blockchain mass adoption in the region.”

Klaytn’s robust technical infrastructure and strong presence in South Korea, Singapore, and Vietnam, will be combined with Finschia’s comprehensive service network that is popular in Japan, Taiwan, Thailand, and Abu Dhabi.

Post-merge, Klaytn’s DeFi and gaming services and Finschia’s NFT, payment, and AI services will come together to create a massive ecosystem of 420+ DApps and services, 45+ governance partners, and 450+ Web3 resources, the largest Web3 network in Asia. The merged blockchain will also inherit integration with both Kakao and LINE messengers, creating a powerful ecosystem with over 250 million potential Asian user touchpoints.

Post-merge, the unified foundation will continue to pursue ecosystem expansion in the RWA tokenization, GameFi and DeFi verticals through collaborations with Japanese, South Korean, and Southeast Asian partners, while continuing to develop messenger-based Web3 services and the digital commerce platform. With access to every Kakaotalk and LINE user, the new public blockchain will also act as a springboard for Asia’s IT and entertainment enterprises.

“We are excited to be taking the first step toward unlocking the enormous synergy of merging the public blockchains started by Kakao and LINE, which are both leading IT companies in Asia,” said Klaytn Foundation and Finschia Foundation. “We will give our best to make this merge an opportunity to innovate and lead the Asian blockchain industry in both technology and adoption.”

Genesis Tech and BRI launch Blockchain data project in Qatar

Genesis Tech and BRI launch Blockchain data project in Qatar

Qatar based BRI ( Blockchain Research Institute) Middle East and Genesis Technologies have announced the deployment of a Blockchain data storage system to a client in the country.

As per the press release, BRI Middle East and Genesis Technologies will utilize blockchain for distributed database backup. The new system will improve data availability and reliability, reducing downtime and ensuring uninterrupted access to critical information.

The decentralized nature of the network also provides scalability, allowing organizations to seamlessly expand their storage capacity as their needs evolve.

Genesis Technologies developed the DDS system which is the foundation of the project. By utilizing blockchain technology, the solution provides an unmatched level of security and privacy for critical files.

“This project represents a major leap forward in data protection, offering our client unparalleled security, reliability, and peace of mind. By harnessing the power of blockchain, we have transformed the landscape of database backup, setting a new standard for the industry” said Aline Daoud, Managing Partner at BRI Middle East.

“Our mission with the DDS System is to revolutionize the way sensitive data is stored,” said Dr. Mazen El-Masri, CEO of Genesis Technologies. “In this digital age, security and availability are paramount. The DDS System leverages blockchain technology not just as a buzzword but as a concrete solution to real-world data storage challenges.”

On LinkedIn Mazen El Masri explained that this was the second project they deliver after their first one in KSA. He states, ” We are thrilled to announce the successful completion of Genesis Technologies second project! While our first project exceeded the expectations of a key ministry in Riyadh, this second project with a private Qatari Based company clearly highlights the value of blockchain technology in revolutionizing data storage while offering unparalleled security.”

Genesis Technologies was launched in Qatar back in September 2022.