The Hashgraph Association (THA), the non-for-profit accelerating adoption of the Hedera network globally, will be participating at Gitex 2023 between October 16th and 20th at the Dubai World Trade Center in Dubai UAE, as well as the Future Blockchain Summit being held between October 15th-18th at Dubai Harbour, announcing the launch of its stablecoin studio amidst VARA’s ( virtual asset regulatory authority) latest regulations regarding stablecoins.
The Hashgraph Association will be present at Gitex 2023, inking a groundbreaking partnership with Du Telecom this summer at Envision 2023. The partnership harnesses the potential of the Hedera network to offer secure, traceable, and scalable solutions on the platform.
Hedera’s distributed ledger technology (DLT) ensures a trusted and reliable foundation for the newly developed solutions. Target sectors include manufacturing, healthcare, education, smart cities, and agriculture, catering to a wide range of industries seeking secure and efficient applications.
The Hashgraph Association will also be participating alongside AgNext, one of 12 projects offered grants by THA in 2022. The Hashgraph Association’s grant funding enables projects to scale globally. AgNext has innovated and developed a full-stack integrated algorithm, software, and hardware platform that address quality assessment issues across the agri-value chain, enabling businesses to analyze food supply chains on the spot in just 30 seconds.
THA had also previously worked with DIFC (Dubai International Financial Centre) Courts, on Tejouri. The first phase of Tejouri was launched at Gitex 2022. Tejouri is a global digital vault that enables the upload and secure storing of documents ranging from insurance contracts, title deeds, wills, and financial certificates to images and multimedia files. Tejouri can be utilized by all individuals globally and is built on Hedera’s DLT, establishing a decentralized trust application.
Alongside Gitex 2023, Jeffrey Tchui, Head of Advisory, at The Hashgraph Association, will be speaking on Hedera’s ecosystem and its stablecoin accelerator, Stablecoin Studio, at Bharat Blockchain Yatra (BBY) sessions under IDS at the Future Blockchain Summit. BBY sessions are powered by Hedera and supported by AICTE. BBY has arrived in UAE after an awe-inspiring journey that spanned 25 series of events, spreading its wings across 18 states in India as part of a tech tour on Web3 and blockchain, narrating India’s Web3 story.
IDS has been a pioneer in the enterprise blockchain space, providing cutting-edge blockchain solutions to governments and corporations worldwide across nine industry verticals.
With over 17 years of technology and consulting experience, Jeff has a wealth of experience in blockchain and DLT at leading global organizations, Hitachi, Infosys, Cognizant, and even TOKO, an asset tokenized exchange and custodian that recently received a license in Dubai, UAE from VARA (Dubai Virtual Asset Regulatory Authority).
TOKO solves the inefficiencies of today’s capital markets, leveraging DLT technologies of Hedera Consensus Service and the Hyperledger Fabric plug-in. TOKO is a digital asset creation engine created by DLA Piper, a Hedera Governing Council member that couples the compliance and regulatory rigor of a global law firm with the innovative technology solutions of tomorrow. TOKO has also been a grant candidate for THA.
Kamal Youssefi, President of The Hashgraph Association, on the participation of THA at Gitex 2023, stated, “We are here at Gitex and in the UAE because we believe that the MENA region and UAE, in particular, is the new Web3 and crypto powerhouse of the world. We are happy to be launching our upcoming grant fund in Abu Dhabi at ADGM and we are ready to discuss the DLT solutions we can offer SMEs, governments, and enterprises in the region.”
He adds, “One of the biggest discussions we believe to be relevant to the region is the new stablecoin regulations recently released by VARA. This is especially important given the launch of Stablecoin Studio on the Hedera network. Stablecoin Studio is an open-source stablecoin issuance and management toolkit that makes it easy for Web3 stablecoin platforms, institutional issuers, enterprises, and payment providers to build stablecoin. Stablecoin Studio provides organizations worldwide with an all-in-one toolkit that enables stablecoin issuers to quickly configure, issue, and manage bespoke stablecoins on the Hedera network.”
Dubai’s Virtual asset reglatory authority recently announced what it calls Fiat referenced virtual asset ( FRVA) regulations better know to most as virtual assets pegged to a stable value, or stablecoins.
