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Dubai licenses DLT software development for DMCC Free Trade Zone

Monday 3 September 2018 09:53 CET | News

Dubai Multi Commodities Centre has licensed Global Blockchain Technologies to develop blockchain services for trade finance.

According to a press release CoinReport received from IRTH Communications, BLOC’s investor relations firm, Blockchain Technologies Corp is now in a position to deliver DLT-based infrastructure, middleware and other supporting services to the free trade zone and Middle Eastern clients, who can now team up with BTD to take advantage of the United Arab Emirates’ strategy to accelerate DLT’s development.

In the region, BLOC will help enhance current business functions and marketplaces by identifying opportunities to introduce and then implement DLT. Particular areas of interest include creating a spot market for gold bullion trading, optimising trade finance and supply chain solutions for commodity transactions, distributing renewable energy resources and diamond trading and provenance authentication.


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Keywords: Dubai, Dubai government, Dubai Multi Commodities Centre, Global Blockchain, BLOC, blockchain, Blockchain Technologies DMCC, BTD, distributed ledger technology, DLT, DMCC Free Trade Zone, DMCC Free Trade Zone authority
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