Dubai Gov’t to Launch KYC Blockchain Consortium in Q1 2020

One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with six major banks. Dubbed “KYC Blockchain Consortium,” the new blockchain-powered regulatory platform is designed to accelerate processes like exchange of digital customer data and documents while ensuring security. The project also intends to bring a unified platform of KYC efforts among existing and future ecosystem members like qualified financial institutions and licensing…

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Why FOSS Development Is Crucial for Bitcoin’s Mainstream Acceptance

Crypto likes to see itself as disruptive, just as Apple disrupted mobile phones (and the camera), Tesla disrupted automotive (and also sustainable energy), Twitter/Facebook/WhatsApp disrupted media and communications (and also digital community building). At OKCoin, we embrace this industry because we also believe that bitcoin and subsequent cryptocurrencies represent a paradigm shift in both our financial system and social fabric. While it’s unclear what this shift will look like, or if it will ever be static, there will always be a need for a technical and financial infrastructure that allows…

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