BGEO Foundation announced that the organisation has signed a collaboration agreement with Ali Japani 786 Gold & Trading L.L.C, a leading gold trading company in Dubai, to develop a blockchain-based payment system. The collaboration is focused on building an innovative payment system that uses blockchain technology to enhance the transparency and security of gold transactions and maximise transaction efficiency.
The BGEO Foundation will promote the digitisation of physical asset transactions such as gold and oil through the blockchain-based payment solution developed under the agreement, which will provide a more secure and faster transaction environment. This agreement is an important first step in demonstrating the role that blockchain-enabled payment systems can play in the gold trading market in Dubai, as well as across the Middle East, Africa, Japan and Asia.
Hanen Benabdeladhim, founder of BGEO Foundation, said: “This collaboration is an important milestone in the future of gold trading. Through blockchain technology, we will provide traders with a more trusted trading environment and increase transparency in the gold trading market.”
She added that the agreement is an important step towards improving the efficiency of global trade and helping more traders trade in a secure environment.
Ali Japani 786 has a long history of gold trading in Dubai, and through this agreement, the company plans to revolutionize its existing trading system by introducing a blockchain digital payment system. The agreement highlights the positive impact that blockchain technology can have on gold trading and is expected to contribute to increasing transaction efficiency through technological innovation in Dubai and the global market.
The collaboration between BGEO Foundation and Ali Japani 786 is an important step in revolutionising the future of gold trading, creating a more secure and transparent trading environment.