Tue 15-11-2022 18:50 PM
ABU DHABI, fifteenth November, 2022 (WAM) — Abu Dhabi Finance Week witnessed throughout its Fintech Abu Dhabi Competition the announcement by Abu Dhabi International Market (ADGM) Courts of the first-ever introduction of blockchain expertise for the worldwide enforcement of business judgments.
The blockchain answer will end in substantial time and price financial savings for events within the enforcement of their business judgments. Safe, immutable judgments shall be instantly out there to events and imposing courts, through ADGM’s web site, an API or straight on the blockchain for member courts. Events will now not want to attend for an authorized copy of the judgment to start out the method within the imposing jurisdiction. It is a main growth for worldwide commerce and commerce.
Commenting on this transformational growth, Linda Fitz-Alan, Registrar and CEO of ADGM Courts, mentioned, “Our imaginative and prescient has at all times been to massively remodel the supply of judicial providers via expertise. Our focus has now turned to enforcement to reply to the urgent wants of the worldwide enterprise neighborhood, and to drive sustainable change for the justice sector. This trailblazing introduction of blockchain expertise for business courts underscores ADGM and ADGM Courts’ status as leaders within the digitisation of justice.”
Lina Ibrahim/ Khoder Nashar