Analysis of UAE and Saudi Arabia’s Government Cross-Border Payments Cryptocurrency

Analysis of UAE and Saudi Arabia’s Government Cross-Border Payments Cryptocurrency

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The United Arab Emirates and its neighbor Saudi Arabia launched a government-backed cryptocurrency to facilitate cross-border payments. The launch was part of a seven-point co-operation plan that was unveiled on Jan. 20th. Apart from cryptocurrency development, the rest of the plan includes a sort of customs union, which allows Saudi and Emirati small and medium-sized enterprises…

Facebook Acqui-Hires Team from Blockchain Platform Startup Chainspace

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Facebook acquired its first company in the blockchain space, smart contract protocol development and research firm Chainspace. The move was likely made to acquire the company’s team of experienced crypto developers. Chainspace is an 11-person company that was started by five well-credentialed co-founders, including two Cambridge PhDs, several researchers from the University College of London,…

Tether Clears Air with New Banking Partner and Balance Sheet

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In an apparent attempt to bring an end to USDT’s unrelenting solvency saga, Tether Limited has procured a new banking partner and laid bare its “portfolio” reserves in an account statement dated Oct. 31. We are pleased to be able to confirm that Tether has an account with Deltec Bank & Trust Limited https://t.co/LSn64soUsC .…

IBM Secures $740 Mln Deal to Upgrade Australian Gov’t Data Security with Blockchain

IBM Secures $740 Mln Deal to Upgrade Australian Gov’t Data Security with Blockchain

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Blockchain integration grows more prolific, as companies, educational institutes, and governments realize its solutions to various inefficiencies. IBM signed an A$1 billion (~$740 million) deal with the Australian government to upgrade data security systems using blockchain technology. Estimated $100 Mln In Savings Over Five Years International Business Machines Corp. (IBM) signed a five-year contract to…