fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Non Banking Currencies

Central Banks of UAE Partner for a Blockchain Project

The Global Economics by The Global Economics
January 30, 2020
in Currencies, Central, Technology, Trending
Reading Time: 1 min read
0
Bitcoin mining device in a close-up shot.

Bitcoin mining device in a close-up shot.

91
SHARES
506
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

Saudi Arabia and the United Arab Emirates, the central banks of two large Arabian countries, collaborated to start a blockchain-based project. The banks claim that this new blockchain initiative is set to help the countries to make financial settlements between them using the blockchain technology. Also, according to both the banks, the central remittance systems of the two countries may be successful and well developed, but their international remittance systems may have some need to be upgraded to achieve better results. However, a trial phase was set to determine whether this new tool can or cannot be used to reduce the costs of international remittance. Thus, they planned to introduce a new digital currency “ABER”.

Aber is limited to financial settlements using blockchain technology and only a few state companies are set to be using it at first. Initially, it was in the framework of “Proof-of-concept”, which can be concluded by thorough understanding and analyzing the dimensions of modern technologies and their feasibility through practical application and their impact on the enhancement and minimizing the payment costs and the assessment of technical risks and how to deal with them. Overall, Aber has to pass all the tests and the criteria of the government in order to become a full-fledged initiative.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

A girl using a smartphone
Digital

China’s 2022 Smartphone Sales Plunge to the Lowest Level in a Decade

by Khushboo Pandey
January 30, 2023
Landmark event in the aviation industry: ZeroAviva's Dornier 228
Energy

Break-Through In The Aviation Industry As ZeroAviva Flies The World’s Largest Hydrogen Aircraft

by Shreejita Roy
January 20, 2023
Davos Bitcoin
Technology

Davos 2023: Muted Crypto Crowd, Cautious Optimism For Metaverse Mark World Economic Forum

by Marifur Rahman
January 20, 2023
Morocco targets 100% renewable energy by 2050. P.C: Reuters
Energy

Morocco Targets 100% Renewables By 2050

by Anuj Singh
January 19, 2023
US Federal Reserve Plays the Slow and Steady Game to Win over Inflation
Central

US Federal Reserve Plays the Slow and Steady Game to Win over Inflation

by Jagriti Saha
December 15, 2022
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Swappable Batteries of Electric Scooter

Can Swappable Batteries For EVs Work? Singapore’s Mo Batteries Is Hopeful

February 6, 2023
Meta shares increase the most since 2013 and earns $40 billion in share buybacks

Meta shares increase the most since 2013 and earns $40 billion in share buybacks

February 3, 2023
Subway

Sandwich Chain, Subway’s Business Becomes Tastier As Sales Climb

February 3, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version