With 30% of their inventory damaged, owners of Preloved Books now face the daunting task of rebuilding from scratch
The partnership is the first step in creating a blockchain-powered future for the judiciary which will have far-reaching benefits, including streamlining the judicial process, removing document duplications and driving greater efficiencies across the entire legal ecosystem.
Future research will combine expertise and resources to investigate handling disputes arising out of private and public blockchains, with regulation and contractual terms encoded within the smart contract. Currently, blockchain-based smart contract transactions are irrevocable and there is no technical means to unwind a transaction. The joint taskforce will model smart contracts across the blockchain that incorporate logic and allow for various forms of exceptions and conditions for seamless and more efficient dispute resolution.
Amna Al Owais, chief executive and registrar, DIFC Courts, said: "This taskforce is in line with our guiding principle to deliver courts as a service, powered by technology and extended through cooperation agreements and alliances. By harnessing blockchain technology, Dubai will be firmly positioned at the forefront of legaltech and judicial innovation, setting the standards for countries and judiciaries to follow."
Dr Aisha Bint Butti bin Bishr, director-general of the Smart Dubai Office (SDO), said: "The emirate has become a global trailblazer in embracing advanced technologies. One of the most notable of these innovations is blockchain.
"An invention of this calibre and potential requires an equally disruptive set of rules and an empowered institution to uphold them. This is where our partnership with DIFC Courts comes in, allowing us to work together and create the world's first disruptive court."
- business@khaleejtimes.com
With 30% of their inventory damaged, owners of Preloved Books now face the daunting task of rebuilding from scratch
Five-time champions hold their nerve to claim victory by nine runs in the final over at Chandigarh
Natasha Abbas is a British civil engineer who co-founded North 51, a project management consultancy in Dubai
People who are assessing your qualifications can quickly tell the difference between an authentic life narrative and a third-party account
Arab-Canadian public speaking coach and author of The Million Dollar Speaker Maher Elusini on how to make your speech command value for time and money
The legendary Greek-Russian conductor Teodor Currentzis, who is all set to perform at the Dubai Opera next week, on music transcending cultural and language barriers
Not every kid is meant to go to university or college. So, it makes sense to teach them entrepreneurial skills early
There are also increasing accounts, on social media and online forums, of tourists and residents across the city having to pay inflated prices for taxis