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Dubai’s DIFC Courts to Use Hedera, Ethereum’s ERC20 for New Notary Service


Dubai’s DIFC Courts to Use Hedera, Ethereum’s ERC20 for New Notary Service

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  • The Dubai International Financial Centre (DIFC) Courts have launched new blockchain-backed legal services
  • Notary events will be logged and timestamped on the Hedera public blockchain to ensure authenticity
  • Notarized documents will be issued as verifiable credentials compliant with the Ethereum ERC20 standard

The Dubai International Financial Centre (DIFC) Courts have launched new legal services that integrate public blockchains, a major development for the real-world asset (RWA) sector. 

The new framework, launched under a new Dubai law, will use the Hedera network and Ethereum’s ERC20 standard to verify and secure official documents.

Breakdown of the New Blockchain-Powered Services

The new offerings are designed to expand access to justice and provide high-tech solutions for businesses and residents operating under the DIFC’s English common law framework.

What is the new Notary Service?

The “first-of-its-kind” Notary Service in the UAE for English-language documents will allow for the witnessing of oaths and the certification of documents through automated, virtual, or in-person sessions.

How will blockchain secure the documents?

All notari…

The post Dubai’s DIFC Courts to Use Hedera, Ethereum’s ERC20 for New Notary Service appeared first on Coin Edition.

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$ 1.81K

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