UAE AI joins hands with Chainalysis and ADCB to explore blockchain technology in office banking

The UAE’s Ministry of Artificial Intelligence, Digital Economy and Remote Work Applications Office has partnered with blockchain analytics firm Chainalysis. Set up a Virtual Training Program As part of the National Program for Coders Initiative for Directors and Employees of Abu Dhabi Commercial Bank (ADCB) at Coder Headquarters.

UAE teams up with Chainalysis to train government agencies on blockchain

According to Saqr Binghalib, Executive Director of the AI ​​Office, the adoption of advanced technology is a top priority in the UAE government’s goal of developing a knowledge-based economy.

The training programs are in line with the objectives of the National Program for Coders to equip the government and private sector with digital tools and improve the educational environment for talented individuals.

Khalid Al Naeimi, Project Manager at the UAE’s Artificial Intelligence, Digital Economy and Remote Work Applications Office, opened the event with a workshop. They discussed the UAE’s National Strategy for Artificial Intelligence, one of several plans United Arab Emirates Centenary 2071,

Naeemi further discussed the UAE’s digital economy strategy. They aim to connect participants with the UAE’s aspirations in the digital sector and its journey to success in making the region a global leader in technology.

Blockchain analytics firm Chainalysis has created a series called “The Future of Banking” to provide an overview of blockchain and NFTs, as well as the future of blockchain in banking and how to improve their technologies in work models and use in building banking solutions. Hosted the workshop. Through the workshop, ADCB employees get exposure to AI and blockchain technology, strengthen their skill sets and open up new investment opportunities to advance the banking industry.

The program addressed the benefits of increasing security with decentralized technology for processing financial transactions and regulating digital assets.

UAE’s blockchain push

In July, the UAE Ministry of Artificial Intelligence, Digital Economy and Remote Work Applications Office signed on An initial agreement with blockchain data platform Chainalysis to provide virtual training programs for government entities across the country.

At the time, Omar Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Office, said:

“Blockchain technology is key to creating innovative solutions to future challenges, contributing to government work and developing new technologies that enhance the UAE’s leading position globally.”

The Dubai Virtual Assets Regulatory Authority (VARA) moved to Metaverse in May. Vara founded it metaverse Headquarters, it is the first government regulatory body to establish a presence in the virtual ecosystem.

Dubai’s ruler Sheikh Mohammed bin Rashid established VARA to fulfill his vision of turning the emirate into a global blockchain and metaverse hub. Since its inception, VARA has been managing the crypto-asset space in Dubai and developing a regulatory framework to address investment-related issues.

On the other hand, Abu Dhabi Global Markets (ADGM) plans to collaborate with stakeholders and regulators to develop operational guidelines to oversee the emerging technology.

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