UAE AI Office with Chainalysis & ADCB explores blockchain tech in banking

By Arya M Nair, Official Reporter
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The UAE Ministry of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Office in collaboration with Chainalysis, the leading company in providing blockchain data and analysis to governments, banks, and businesses worldwide, has organized a training program for Abu Dhabi Commercial Bank’s (ADCB) employees and directors at the Coders HQ, as part of the National Program for Coders initiatives.

Mr. Saqr Binghalib, Executive Director of the AI Office, said that adopting advanced technology is a top priority in the UAE Government aiming to build a sustainable economy based on knowledge and innovation. These programs align with the National Program for Coders goals, to empower the government and private sector with digital tools and enhance the talents’ educational environment.

Mr. Binghalib added that the program aimed to build the capacities of the elite specialists in design solutions to ensure cyber security in various blockchain fields and enhance the readiness of talents to manage technology challenges with the best techniques.

The program started with a workshop presented by Mr. Khalid Al Naeemi, Project Manager in the Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Office, who discussed the UAE National Strategy for Artificial Intelligence, one of the various strategies leading to the UAE centennial 2071, and the UAE Digital Economy Strategy aiming to involve them with the UAE’s visions in the digital field and the journey of success to make the UAE a leading country in AI and technology.

Chainalysis presented a workshop titled, “Future of Banking”, aiming to introduce a brief about blockchain and NFT, the future of blockchain in banking, and ways to enhance its techniques in the work models and utilization in creating banking solutions. The workshop provides ADCB’s employees AI and blockchain experience by this program which supports their capabilities and creates investment opportunities to develop the banking sector.

The program discussed the benefits of enhancing security with decentralized technology to process financial transactions and regulate virtual assets. Participants went on a tour of Dubai Future Labs and The Museum of the Future at the end of the program.

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