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Tag Archives: Dubai

Dubai Police Warns Against Crypto Scams, Predicts Electronic Money Will Replace Cash

Dubai Police currently investigating a Dh 300 million ($81.7 million) international fraud case have issued a warning about the potential role of digital assets in terms of facilitating crime in the UAE. Speaking at a forum on Sunday September 16, Major-General Khalil Ibrahim Al Mansouri, assistant-commander of criminal investigation department (CID) at the Dubai Police warned that a lack of awareness ...

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Dubai Partners With Global Blockchain to Explore Blockchain Technology For Trade Finance

The city of Dubai is globally renowned for its residents’ luxurious lifestyle. The ultramodern architecture, mega shopping malls, and lively nightlife are just a few of the things that make it stand out. Even the cops in Dubai live in luxury, with their fleet of squad cars consisting of Bentleys, McLarens, and Lamborghinis. However, the city is also taking a ...

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Dubai Looks to Disrupt its Entire Legal System with ‘Court of the Blockchain’

The Dubai court system tasked to oversee all civil and commercial disputes involving financial transactions both domestically and internationally is turning to blockchain technology to “create the world’s first disruptive court”. The Dubai International Financial Center (DIFC) Courts has announced its plan “to create the world’s first Court of the Blockchain” in a partnership with the government’s Smart Dubai initiative ...

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Smart Dubai and DIFC Courts Partner to Explore Blockchain-Powered Judiciary

The Dubai International Financial Centre (DIFC) Courts and Smart Dubai have announced their partnership to develop a “Court of the Blockchain,” for streamlining the legal system, local news outlet Arabian Business reports today, July 30. DIFC and Smart Dubai will reportedly explore how the technology could aid verification of court judgements for cross-border enforcement as part of a wider push ...

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Dubai Unveils Blockchain-Based Digital Silk Road Project – The Merkle

Dubai has quickly become a hub for blockchain innovation over the past few months. With the backing of the local government, there are a lot of opportunities waiting to be explored. One of the newest projects is known as Digital Silk Road, which is not connected to the dark web marketplace with which most cryptocurrency users are acquainted. The Digital Silk Road in a Nutshell It ...

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Dubai Bitcoin Exchange Halts Fiat Withdrawals Due to Bank ‘Issue’

Join our community of 10 000 traders on Hacked.com for just $39 per month. Dubai-based exchange BitOasis has suspended UAE Dirham/BTC trading, citing issues with the bank servicing the exchange itself. A communication was sent to BitOasis users yesterday that starting Tuesday, no more dirham can be withdrawn from the exchange, leaving users with today only to move their balance ...

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Opening Shop? Dubai Government Launches Blockchain Business Registry

Join our community of 10 000 traders on Hacked.com for just $39 per month. Dubai’s government is turning to blockchain technology to pave the way for foreign investments and businesses to come into the city-state Emirate. In an announcement on Tuesday, the city’s Department of Economic Development (DED) has unveiled a joint blockchain endeavor alongside the Dubai Silicon Oasis Authority, ...

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Dubai Bitcoin Robbery | Gang that Stole $1.9m Found and Arrested

Dubai Bitcoin Robbery: Thanks to Artificial Intelligence Technologies and smart patrolling, Dubai police have been able to capture ten members of a gang who robbed more than $1.9 million through a fake over-the-counter purchase offer. The victims were two brothers seeking to swap their FIAT money into crypto, through a multi-million dollar purchase of Bitcoins with cash. The amount was ...

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Dubai Launches Blockchain Business Registry To Ease Market Entry

Dubai has partnered with IBM to launch a Blockchain registry that will help businesses operate under its jurisdiction. The latest step in the city’s 2020 Blockchain Strategy was announced in an official press release May 1. The Dubai Blockchain Business Registry Project will also see involvement from Smart Dubai and Dubai Silicon Oasis Authority (DSOA), while the government input comes ...

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Dubai Police Arrest Suspects Behind $1.9 Million Bitcoin Heist

Join our community of 10 000 traders on Hacked.com for just $39 per month. Dubai police have apprehended a gang of ten individuals alleged to have stolen Dh7 million (approx. $1.9 million) from two victims in an armed theft involving the purchase of bitcoin. The victims, incidentally two brothers, sought to buy bitcoin worth AED 7 million in a peer-to-peer ...

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