Dubai Debuts Blockchain-Based KYC Platform
The United Arab Emirates is debuting a blockchain-based Know Your Customer, or KYC, platform. Dubai’s Department of Economic Development and state-run bank Emirates NBD are rolling out their so-called UAE KYC Blockchain Platform.
This blockchain platform is designed to unlock digital customer onboarding, instant bank account functions, and verified KYC data sharing between licensing authorities and financial institutions.
The UAE has shown a great interest towards the blockchain and crypto industries during the past years.
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