DBCC and CTL Sign Memorandum of Understanding

The Dubai Blockchain Centre (DBCC) and Chaintech Labs Ltd (CTL) have signed a Memorandum of Understanding (MoU). It aims to promote long-term research and development of blockchain technology for businesses and government agencies in the Gulf region.

The Memorandum of Understanding formalises mutual interaction and strengthens strategic partnerships. The companies will work on engaging global enterprises and government agencies in blockchain, developing standards for public and private blockchains, smart contracts, fungible and non-fungible tokens.

Dr Marwan Al Zarouni, CEO at DBCC, said:

Our objective is to support creators and innovators in the crypto and blockchain space. This is in line with Dubai's Metaverse Strategy which was announced recently. Our cooperation with CTL enables us to tap into their community and create more opportunities for projects within the metaverse and NFT space as well as create, support, and foster talent in Dubai, the UAE, and beyond.

The Dubai Blockchain Centre runs blockchain awareness sessions in Arabic and English and hosts various case studies.

Chaintech Labs Ltd is a blockchain research and development company, incorporated in the Dubai International Financial Center. It owns more than 10 global NFT projects, with a community of more than a million people and a total token market approaching $1 billion.