Verofax Limited, an Asset Digitization and Traceability solutions provider, today announced closing a $1.5M pre-Series A round by international investors led by Benson Oak Ventures, with 500 Startups, Wami Capital and Vernalis Capital completing the group. Verofax utilizes patented technology incorporating Blockchain, Augmented Reality and Artificial Intelligence to provide ‘Traceability as a Service’, enabling brands to turn their offline products interactive,
Etisalat Digital’s blockchain arm UAE Trade Connect (UTC) has crossed the milestone of handling invoices worth AED10 billion within its first eight months of operation. This amount represents the value of invoices presented by member banks into the UTC system for fraud analysis and duplicate financing checks The consortium banks include Commercial Bank of Dubai, Commercial Bank International, EmiratesNBD, First Abu
Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors, Roads and Transport Authority (RTA), has opened RTA’s Hackathon at Expo 2020 Dubai. The hackathon discussed three key topics relating to economic growth, community happiness, and envisioning the future. 25 experts and specialists from pavilions of countries participating in Expo took part in the event along with a
