ADGM Courts aims to use blockchain technology to save time and money used to make commercial judgments.
Abu Dhabi Global Market Courts (ADGM Courts), an international financial center and free zone located on Al Maryah Island in the United Arab Emirates’ capital, is adopting blockchain technology for the global enforcement of commercial judgments.
According to a press release shared on November 15th, blockchain technology will help parties making commercial judgments to save time and money.
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The unchangeable judgments will be available on ADGM’s website, application programming interface (API), or the blockchain.
The press release highlighted that with the newest technology, interested parties will no longer have to wait “for a certified copy of the judgment to start the process in the enforcing jurisdiction.” Moreover, ADGM Courts believe that innovation will be a major “development for international trade and commerce.”
When talking about blockchain integration, ADGM Courts Registrar and CEO Linda Fitz-Alan highlighted that the Abu Dhabi Global Market Courts always wanted to reconstruct judicial services using blockchain technology, adding:
Our focus has now turned to enforcement to respond to the pressing needs of the international business community, and to drive sustainable change for the justice sector. This trailblazing introduction of blockchain technology for commercial courts underscores ADGM and ADGM Courts’ reputation as leaders in the digitisation of justice.
In other news, Abu Dhabi has recently launched The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA), which aims to develop an accessible, compliant, and transparent crypto-blockchain ecosystem. Moreover, MEAACBA aims to provide innovative approaches, education, and coordination to blockchain and crypto companies across the Middle East, North Africa, and Asia.
by Gile K. – Crypto Analyst, BitDegree
SOURCE: COIN JOURNAL
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