Dubai Welcomes Global Businesses With First Blockchain KYC Platform ⠀ Dubai Inte…

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🔗Dubai Welcomes Global Businesses With First Blockchain KYC Platform🔗

☑️Dubai International Financial Centre (DIFC) and Mashreq bank announced the launch of their new blockchain data-sharing platform on March 1st.

👉🏼This platform will allow licensed businesses and corporations to open digital bank accounts instantly by verifying their identities via an internal blockchain.

Mashreq accomplishes this by removing the existing paper-based KYC procedure and replacing it with a blockchain-centric digital one. DIFC prepares each new KYC record as part of a company’s corporate license application. With the customer’s consent, this information is then shared electronically with Mashreq via the blockchain. The result is a simplification of the process companies currently go through when opening a new bank account. This will make it easier and faster for new companies to do business in the UAE.

According to their statement, DIFC-incubated fintech firm Norbloc provided the blockchain platform (Fides), Gowling WLG drafted the legal agreements, and Deloitte supported Mashreq with governance and program management.

☑️DIFC’s framework change makes the Fintech business even more appealing to the rest of the world

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  • It’s amazing trading with someone with great skills and knowledge about the market I enjoy full profits and easy withdrawals with no complains @forex_ilona

  • Investing online with Mrs. @fx_sinova have been a change of story for me, Mrs @fx_sinova, she’s a trusted and reliable person, her platform real pays

  • Good work deserves recommendations.. Marian Wilson is indeed a helper and a God sent to My life and also to the public, I just started up investing/Trading with @marianwilson62 and I started earning a lot more than expected. I made $10,500 with just $1,000 within a week. I strongly recommend @marianwilson62 to everyone who wants to start Investing and earning to contact @marianwilson62

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