Dubai Creates First Blockchain-Based KYC Platform for Businesses
In modern times banks all over the World are boundaryless for global competition. Made banking sphere more and more globalized.
Blockchains quality insists banks to use the platform for better banking services and good experience with easy way Keeping privacy and security are like “values”.
1st March is the day on which DIFC and Marshreg bank declare the launch of the “digital banking” electronic blockchain platform a global ledger in cryptocurrency.
“digital innovation ” — DIFC and Marshreg bank digital banking to licensed corporation and Business. The big potential of digital ledger provides different financial services To search, identify, verify personal Data.
Now Marshreg is using a digital platform of blockchain to maintain personal records. Using the electronic systems for banking there is no need for paper-based KYC any more.
New implementation for banking to Keep records, data, and information secure and safe with blockchain Centric digital one. Companies each record is a corporation license application.
KYC on Blockchain
A newly launched process of KYC is Informed to clients for their convincing. User-friendly and easy process to maintain KYC records by blockchain provides easy personal banking, money market trading
Exchange for faster business in U.A.E you have to open new accounts for digital banking. DIFC gives a blockchain base, Gowling would draft legal agreement and devotee supported Marshreg with governance and management program.
The independent bank of Dubai offering 100% ownership to Companies for business on own caliber —- no help of any local partner. The DIFC makes possible a new launching and changes it’s Own credit an independent bank.
“a digitized ledger ” —– once the transaction has been recorded and verified can not be changed.” mutual Partner” — blockchain and data security. Eu regulations and OECD guidelines for banking services, personal security and privacy of information are the most valuable Criteria.
Ahmed Abdelaal CEO of Marshreg Added that:
“The program aligns with the UAE Blockchain Strategy 2021, earmarking the beginning of a journey towards a broader vision of forming a Consortium of Banks, Government Bodies as well as other Licensing Authorities, for seamless sharing of customer KYC data, thus leading to increased transparency, added security, and a better customer experience..”
“Trust ” the key part of banking Services. Cryptocurrency and standers of Blockchain insisted u.a.e. to welcome them in Dubai for development in many sectors.
These include 2 main projects “digital silk road” and “bank trust network” for digitized trade and document exchange. A step forward to “digital revolution ”
