US Commerce Department Backs Blockchain Trade Mission to UAE

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Representativesfrom the blockchain market remain in the United Arab Emirates (UAE) today on a trade mission backed by the U.S. Department of Commerce.

Organisedby the Washington, D.C.-based trade group, the Chamber of Digital Commerce, the journey consists of executives from a variety of companies– consisting of Bloq, Cisco, CMT Digital, Cognizant, Gem, Hogan Lovells and Netki– the company stated today. The effort will consist of conferences with public- and private-sector authorities, happening from October 1– 5.

Themission signifies the growing profile of the innovation in the area, with Dubai amongst the emirates having actually taken exactly what is possibly the most proactive position to date. Dubai’s management has actually charted a progressive course on public-sector applications in the previous 2 years, investing in startups and looking to business like IBM as it pursues usage cases in locations like identity, to name a few.

BarbaraLeaf, the United States ambassador to the UAE, stated in a declaration:

“Leading U.S. financial technology providers are here to share the latest in blockchain technology developments with UAE banks, investment firms, and government agencies to ensure the integrity of financial transactions. U.S. financial technology firms are uniquely poised to assist Dubai’s vision of becoming one of the world’s first governments to use this technology.”

Accordingto the chamber, the trade mission will advance the function of U.S. business in Dubai’s continuous blockchain efforts, including its city-wide governance efforts.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has ownership stakes in Bloq, Gem andNetki

Dubaiimage by means of Shutterstock

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