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Report: Number of STOs Surged By 130% In Q1 2019
Ico   |   04.04.19  |  

... undeniable leader in terms of number of STOs. But these STOs were collectively only able to raise $2 mln which represents less than 2% of the total funds raised indicating that investors are still circumspect about the space. Secondly, STOs launched from the UAE managed to raise a whopping $67 mln in funds even though the number of STOs were significantly less when compared to the US. It makes the average person wonder why there’s a disparity in thought process between different geographies. Security token ...

AMD And ConsenSys To Collaborate On New Blockchain Project
Innovations   |   09.01.19  |  

The third party is Halo Holdings, Abu-Dhabi-based investment management firm. The project is called W3BCLOUD AMD, the manufacturer of computer chips and ConsenSys startup decided to create a tripartite partnership in order to create a new project based on blockchaint. The third party is Halo Holdings, Abu-Dhabi-based investment management firm. The joint partnership's goal is to leverage the use of blockchain technology for administration and commercial purposes in Abu Dhabi. The project is called...

UAE: The National Oil Company Wants To Secure Supplies Against Possible Iran’s Attack
Innovations   |   11.12.18  |  

... both in their daily activities and in the case of force majeure circumstances? It is easy to imagine the extent of the problem and the tasks set. 98% of cargoes in the world are transported by the ocean. At the same time, 85% of the oil produced in the UAE is also taken aboard on tankers, which move into different directions around the world. Numerically, the volumes look even more impressive: only through the Strait of Hormuz, connecting the Persian Gulf with the Indian Ocean, 18.5 million barrels ...

Saudi Arabia Banned Crypto Trading, Leaving a Chance Only For Their State-Backed One
Saudi-arabia   |   27.11.18  |  

... SAMA. The cryptocurrency is due to be launched in 2019 according to the plan — by now, the name of the token and the details of the project are unknown. SAMA’s head Mohsen AL ZAHRANI pointed out that they are collaborating on the project with the UAE. Mubarak Rashed ALl-MANSOURI , the governor of UAE’s central bank, said that the Kingdom decided to launch its own digital currency because it wanted to adopt the latest financial technologies. The governor says there are still a lot of challenges ...

Perspective Prospectus: UAE Finds Solution For ICO Liability
Guest-posts   |   25.10.18  |  

... Early September 2018, the Securities and Commodities Authority (SCA) of the United Arab Emirates by its Chairman Sultan bin Saeed AL MANSOURI, announced it had approved a plan to regulate ICOs and recognize the issued tokens as securities. Although UAE has the most diversified economy in the GCC, it's economy remains extremely reliant on oil. Petroleum and natural gas continue to play a central role: in 2011, oil exports accounted for 77% of the UAE's state budget. Indeed, the Emirates strive for ...

$500 Million — The Price of The Islamic Economy Global Expansion
Cryptocurrencies-analysis   |   23.08.18  |  

The share of Islamic finance grows by 20% per year. Creation of the crypto exchange corresponding to the Sharia law – is the most logical step on the way to the global expansion Can the economy be influenced by global paradigms? Examples of the influence of religion on entrepreneurship are in the centuries: Protestant business ethics, the Buddhist cult of labor, and the Jewish entrepreneurial spirit. The digital age was not an exception. Despite the fact that Islam is the youngest religion, it...

Countries where the cryptocurrencies are banned: busted for Bitcoin
Regulation   |   25.04.18  |  

Very few of the leading states remain indifferent to the phenomenon of cryptocurrency. In this review you can learn about countries where Bitcoin is considered to be crossed over to the dark side While some countries fight over bills loyal to cryptocommunity, the others give up on cryptocurrencies. In this article, Bitnewstoday will tell you about the states where you shouldn’t demonstrate your Bitcoin wallet. Bitcoin as a threat to the economy The main reason for prohibitions is very simple. Transfers...

UAE and Saudi Arabia to create transnational digital currency
Regulation   |   15.12.17  |  

... What is already clear is that it’s going to be a blockchain-based digital currency, but it’s a universal standard. No specifications about the project team either except that two governmental bodies are working together — the Central Bank of the UAE and the Saudi Arabian Monetary Authority. Leader of the Central Bank of the United Arab Emirates, Mubarak Rashed Al-Mansouri, also confirmed to the press that the project is still at its initial stages and there are currently more talks than actions....