Global Blockchain Announces Dubai-Based Subsidiary to Develop Distributed Ledger Technology Services and Solutions Within the DMCC Free Trade Zone

Global Blockchain Technologies (CSE:BLOC) has announced that its subsidiary in Dubai, Blockchain Technologies DMCC, has been licensed to develop software, including distributed ledger technology services and solutions, within the DMCC Free Trade Zone.

As quoted in the press release:

The DMCC Free Trade Zone is home to over 15,000 multi-national corporations and has over 60,000 employees from 170 countries worldwide.

BTD is now in a position to offer blockchain based infrastructure, middleware and other ancillary services to the DMCC Free Zone and customers throughout the Middle East region, who can now partner with BTD to take advantage of the United Arab Emirates’s strategy to accelerate the development of blockchain technology.

BLOC will strategically identify opportunities to introduce blockchain technologies to enhance existing business functions and marketplaces in the region.

Specific areas of interest include: optimizing trade finance and supply chain solutions for commodities transactions, diamond trading and provenance authentication, distributing renewable energy resources and developing a spot market for gold bullion trading.

Theo van der Linde, the Company’s CFO stated, “We have made our relationships in this region a priority focus given the Company’s view that blockchain solutions are particularly relevant and sought after in this area.  With the granting of this license, our presence in Dubai will expand as we drive solutions toward this new base of customers.”

DMCC was named ‘Global Free Zone of the Year’ in 2017 by The Financial Times fDi Magazine, for the third year running and serves as a global marketplace for commodities to drive trade flows through Dubai and the region. As a DMCC licensed company, BTD operates in a secure regulated trading environment and offers a service to global investors to the highest standards of international compliance.

Click here to read the full press release.