Blockchain technology application in the UAE banking industry
Joint Authors
Labbadi, Hajar
Khalil, Abd al-Raziq
Source
Issue
Vol. 8, Issue 1 (30 Jun. 2022), pp.280-294, 15 p.
Publisher
Publication Date
2022-06-30
Country of Publication
Algeria
No. of Pages
15
Main Subjects
Economics & Business Administration
Topics
Abstract EN
This study aimed to shed light on blockchain technology and its application in the banking sector, focusing on the opportunities it provides for the development of the banking industry.
The UAE government launched the “UAE Blockchain Strategy 2021” in April 2018, seeking to become the first government in the world to operate this technology.
The study found that the adoption of blockchain in the UAE banking system helped to uncover an estimated 3.
75 million fraudulent transactions in the UAE annually, representing 435 million USD in potential losses and it expected that KYC blockchain platform will support the asset quality of UAE banks primarily by reducing operational risk.
It was also recommended to activate and expand the use of Blockchain technology to achieve sustainability in the UAE banking industry.
American Psychological Association (APA)
Labbadi, Hajar& Khalil, Abd al-Raziq. 2022. Blockchain technology application in the UAE banking industry. Revue Economie et Finance،Vol. 8, no. 1, pp.280-294.
https://search.emarefa.net/detail/BIM-1326565
Modern Language Association (MLA)
Labbadi, Hajar& Khalil, Abd al-Raziq. Blockchain technology application in the UAE banking industry. Revue Economie et Finance Vol. 8, no. 1 (2022), pp.280-294.
https://search.emarefa.net/detail/BIM-1326565
American Medical Association (AMA)
Labbadi, Hajar& Khalil, Abd al-Raziq. Blockchain technology application in the UAE banking industry. Revue Economie et Finance. 2022. Vol. 8, no. 1, pp.280-294.
https://search.emarefa.net/detail/BIM-1326565
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 292-294
Record ID
BIM-1326565
