US Commerce Department Backs Blockchain Trade Mission to UAE

Representatives from the blockchain industry are in the United Arab Emirates this week on a trade mission backed by the U.S. Department of Commerce.

AccessTimeIconOct 3, 2017 at 1:00 p.m. UTC
Updated Sep 13, 2021 at 6:59 a.m. UTC

Representatives from the blockchain industry are in the United Arab Emirates (UAE) this week on a trade mission backed by the U.S. Department of Commerce.

Organised by the Washington, D.C.-based trade group, the Chamber of Digital Commerce, the trip includes executives from a number of firms – including Bloq, Cisco, CMT Digital, Cognizant, Gem, Hogan Lovells and Netki – the organization said today. The effort will include meetings with public- and private-sector officials, taking place from October 1–5.

The mission signals the growing profile of the technology in the region, with Dubai among the emirates having taken what is perhaps the most proactive stance to date. Dubai's leadership has charted a progressive course on public-sector applications in the past two years, investing in startups and looking to companies like IBM as it pursues use cases in areas like identity, among others.

Barbara Leaf, the U.S. ambassador to the UAE, said in a statement:

"Leading U.S. financial technology providers are here to share the latest in blockchain technology developments with UAE banks, investment firms, and government agencies to ensure the integrity of financial transactions. U.S. financial technology firms are uniquely poised to assist Dubai's vision of becoming one of the world's first governments to use this technology."

According to the chamber, the trade mission will advance the role of U.S. companies in Dubai's ongoing blockchain efforts, including its city-wide governance initiatives.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has ownership stakes in Bloq, Gem and Netki. 

Dubai image via Shutterstock

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