– Having been discovered and purchased in early 2010, it was initially difficult to persuade peers in the Middle East about the benefits of this potential technology. It was even hard to find a way to buy a Peugeot at that time, in an area where people mostly dealt with traditional banks and almost strictly with cash transactions. As any discussion ended with those who worked in the financial industry with categorical accusations that the biocal work of sex trafficking on the internet is dark, the belokchin is just a malicious software that has resonance in this period no more. Today, I am cynical because the Balokchin system in the Middle East has become something completely different. As the same people who work in the financial sector who have been making fun of this technology, they are now leading them as a future of financing. For example, Dubai has sought to become the world's first city of Bluxin, gaining considerable momentum in mid-2017, as with anything else in for Dubai, this city in the United Arab Emirates will do so in the most flashy way possible.
Ambitions of banking technology
A few hours ago, the Dubai Financial Services Authority and the Hong Kong Securities and Futures Commission strengthened an agreement on technical cooperation between the two authorities, with the aim of paving the way for emerging markets in the Middle East, North Africa and East Asia region. Mr. Ian Johnston, chief executive officer of Dubai Financial Services Authority (D), said in a press release that providing a system that "enhances innovation at the DIFC is a strategic priority". This agreement with SFC in Hong Kong is the latest step in establishing the fundamentals of banking technology in Dubai, after the recent opening of the Fintech Hive at the Dubai banking technology gathering. This banking technology accelerator has been established with a view to linking technology innovators and emerging firms to a network of regional financial leaders and international, such as the Islamic Bank of Abu Dhabi, HSBC and Visa, as well as the Islamic financial development organizations.
Last activity
Cointelegraph has reported over the years many emerging Middle Eastern companies with encryption, first-rate support for currencies and exchange platforms, but just recently interest in the Balokchin was shown by the government and private sector in Dubai to explode this sudden activity that we are witnessing now. In fact, not a day goes by without finding news about the Balokchin in the newspapers in Dubai, with a special focus on developments in the smart Balokchin strategy in Dubai. There are also several planned conferences in Dubai to occur before the end of 2017, as well as some of them about to launch.
Major Projects
This wave of digital innovation comes as part of the government's plan to become the first Belokchin-based government by 2020. Some of the recent Balokchin ambitions in Dubai by 2020 include the following:
1. Reduce the cost of processing documents in billions of dollars by disposing of the manual processing of accommodation, passport documents and visas through the signing of a partnership with Consensys.
2. To improve government operations and Islamic banking through the transfer of international government papers to the Balkans through a new local emerging company called Arabianchain.
Many other models from the Balokchin are being published by the Dubai government and the IBM giant Technical company, using Hyperledger technology to build this technology. Therefore, we can say that Dubai no longer looks at the Balokchin as a fad, and is likely to be the first in the world to deploy state-of-the-government Balokchin technology services at full capacity.
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