Dubai’s biggest bank launches blockchain cheque project

Emirates NBD, Dubai’s biggest bank, has become the first to successfully go live at scale with “Cheque Chain”, a blockchain technology project that aims to cut cheque-related fraud.

Following a successful pilot last year overseen by Emirates NBD Future Lab, the bank said it is now rolling out its security-enhancing technology for the benefit of customers across the UAE.

The initiative, which integrates blockchain technology into issued cheques to strengthen their authenticity, will also significantly enhance security standards across the UAE banking sector, the bank said in a statement.

 

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