The collaboration is centered on developing an innovative payment system that leverages blockchain technology to boost the transparency and security of gold transactions, while also optimizing transaction efficiency.
BGEO Foundation has announced that it has entered into a collaboration agreement with Ali Japani 786 Gold & Trading L.L.C, a prominent gold trading company in Dubai, to create a blockchain-based payment system. This partnership aims to construct an innovative payment system that utilizes blockchain technology to enhance the transparency and security of gold transactions, as well as to maximize transaction efficiency. The BGEO Foundation will champion the digitization of physical asset transactions, such as gold and oil, through the blockchain-based payment solution developed under this agreement, offering a more secure and rapid transaction environment. This agreement marks a significant initial step in showcasing the potential of blockchain-enabled payment systems in the gold trading market in Dubai, as well as across the Middle East, Africa, Japan, and Asia.
Hanen Benabdeladhim, the executive director of BGEO Foundation, stated: “This collaboration is a pivotal milestone in the evolution of gold trading. By harnessing blockchain technology, we will furnish traders with a more trustworthy trading environment and augment transparency in the gold trading market.” She further emphasized that the agreement is a crucial stride towards enhancing the efficiency of global trade and aiding more traders in conducting business in a secure environment.
Ali Japani 786 boasts a long-standing history in gold trading in Dubai, and through this agreement, the company intends to revolutionize its existing trading system by integrating a blockchain digital payment system. The agreement underscores the positive influence that blockchain technology can exert on gold trading and is anticipated to contribute to elevating transaction efficiency through technological innovation in Dubai and the global market.
The collaboration between BGEO Foundation and Ali Japani 786 represents a significant step towards revolutionizing the future of gold trading, fostering a more secure and transparent trading environment.
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