Dubai Government Announces KYC Blockchain Consortium Platform

07月
29
2020-7-29 03:49
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According to U.today, on July 28, the KYC blockchain integration platform developed by the government of Dubai was launched. This is a blockchain-based regulation initiated by the Dubai Ministry of Economic Development and Emirates NBD. The KYC blockchain consortium platform makes it easy for SMEs across the country to open a bank with Emirates NBD. Blockchain will streamline the process of onboarding new customers by making it easier to exchange KYC credentials. According to Omar Bhaab, director of the UAE National Bank's authorization department, more than 120 companies have used the platform to immediately access UAE National Bank banking services.

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