Tag: DIFC

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Court of the Blockchain Announced
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Dubai International Financial Centre launches region’s first FinTech accelerator

Court of the Blockchain Announced

By Jonathan Lawrence

The Dubai International Financial Centre (DIFCCourts have partnered with Smart Dubai to create what they say is the world’s first “Court of the Blockchain”. According to an announcement on 30 July, they will initially explore how to aid verification of court judgments for cross-border enforcement. They say they plan to create a blockchain-based court designed to streamline the judicial process, remove document duplications, and drive efficiencies. Future research announced will investigate handling disputes arising out of private and public blockchains and out of regulation and contractual terms encoded within smart contracts.

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Dubai International Financial Centre launches region’s first FinTech accelerator

By Jonathan Lawrence

Dubai International Financial Centre (DIFC), the federal financial free zone situated in Dubai, United Arab Emirates, announced on 10 January 2017 the launch of the region’s first FinTech accelerator.

The FinTech Hive at DIFC accelerator aims to create a platform that will provide selected companies the opportunity to test and modify their FinTech advances. It will identify leading technology entrepreneurs and companies through a competitive process and offer them the opportunity to collaborate with executives from DIFC and regional and international financial institutions. Accenture has been chosen to set up and operate the accelerator

About 150–200 companies are expected to take part in the FinTech Hive over a five-year period, and no specific funding amount has been provided. The FinTech Hive is also interested in growing companies that have a product currently deployed outside of financial services but that are interested in entering this sector.

For the FinTech Hive at DIFC website, please click here.

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