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The biggest bank of Dubai – Emirates NBD, has gone live at scale with a blockchain-based project called “Cheque Chain” to substantially cut off check-related fraud.
Dubai has always been quite elated when it comes to embracing blockchain-based technology. We’ve seen it adopting innovative solutions based on it across a range of industries such as automobile and tourism.
Following this tendency, the emirate’s largest bank – Emirates NBD, announced the roll-out of Cheque Chain, a blockchain-based technology intended to strengthen the security standards across the banking sector in the UAE, for the benefits of its customers.
Dubai continues to embrace blockchain technology through the latest addition to its available exchanges, BitPado.
We recently reported on how Dubai was well on its way to becoming the smartest city in the world by planning to launch 20 blockchain-based services in this year alone.
Now, according to Arabian Business, the city will also unveil their latest development: BitPado. The Dubai-based exchange was founded by Omar Kassim, who made his mark on the ecommerce world with his online market, JadoPado. The business was subsequently sold, with BitPado becoming Kassim’s latest venture.