NEWS
Ministry of Finance launches Mohammed
Bin Rashid Innovation Fund Accelerator
provide them with the necessary tools to
grow both on a national and international
level. The accelerator also aims to attract
leading innovators from around the world
by helping them establish their businesses
within the country and providing them with
all the benefit offered by government as well
as private sector entities.
T
he Mohammed bin Rashid Innovation
Fund Accelerator has been launched in
the UAE.
The Ministry of Finance announced the
launch of the accelerator as a public–
private partnership to support local and
international innovators in a pioneering
move aimed at enhancing the growth
potential of innovative businesses, including
those operating in the IT sector, that will
shape the future of the country’s economy.
The fund aims to identify and support the
best innovators in the UAE. It will do so by
supporting innovative local businesses and
HH Sheikh Hamdan bin Rashid said: “The
UAE has been at the forefront of this year’s
Global Innovation Index (GII) in the Arab
World and this spurs us on to continue
to support innovation as a key driver of
the economy that, under an inspirational
leadership, looks towards a stable and
ambitious future. The initiative aims to
explore the future, keep abreast of the
latest developments and support innovative
talents that seek to establish companies
that contribute to the betterment of the
UAE by achieving the objectives of the UAE
Vision 2071.”
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Locus Chain to launch a digital asset
exchange platform in Dubai
S
ingapore-headquartered Locus Chain
Foundation, the developers of a next-
generation Blockchain protocol, has
announced it will launch an innovative
digital asset exchange platform, Locus DAX
in Dubai, during the first quarter of 2019.
Locus DAX will allow users to buy, sell and
trade digital currencies including major
cryptocurrencies such as Bitcoin, Ethereum
and Locus Token (Locus Chain’s own digital
currency). The exchange will also provide
interoperability with financial accounts,
allowing users to purchase cryptocurrencies
with fiat currencies such as USD and AED.
Her Highness Sheikha Moaza Obaid Suhail Al
Maktoum, Co-founder of Locus DAX and Senior
Adviser to Locus Chain, said: “Strategically
located between Africa, Asia and Europe,
Dubai sits at the international crossroads of
business and investment and is fast becoming
the region’s digital exchange hub.
www.intelligentcio.com
“We expect to attract investors from around
the region as well as internationally, as
innovations in Blockchain continue to
capture keen interest from governments and
private businesses. When you also factor in
the liquidity of the GCC, we are confident
that Locus DAX is uniquely positioned to
serve this growing space, to quickly become
a globally ranked exchange.”
Dubai has embarked on an ambitious plan
to be the first city in the world to pioneer an
e-government system running entirely on
Blockchain by 2020.
INTELLIGENTCIO
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