Browsing: Dubai Department of Economy and Tourism

Etihad Credit Insurance (ECI), the UAE Federal export credit company, joined the KYC Blockchain Platform, marking a first for the insurance sector. Led by the Dubai Department of Economy and Tourism (DET), the initiative aims to improve ease of doing business, company KYC compliance, and customer data quality and enable the KYC network’s future growth by leveraging it as a reliable customer data ecosystem.

The UAE – along with the Middle East – is ready to become the testing ground for a range of groundbreaking consumer applications of blockchain technology, expanding beyond cryptocurrency exchanges and price speculation. This initiative kicks off with the tokenisation of tickets by Dubai-based Blocklive, in collaboration with MICRO MUTEK.AE, to introduce the UAE’s first fully blockchain-based music festival.