The Saudi Central Bank (SAMA) released a press release where it confirmed that the Central Bank is continuing to experiment on Central Bank Digital Currencies (CBDC).  SAMA is currently working on a project that focuses on domestic or national wholesale CBDC use case in collaboration with local banks and FinTech's. Experts explained to LaraontheBlock that this is a CBDC for local wholesale bank settlements.  This project is part of SAMA's ongoing research and experimentation on CBDC. SAMA is seeking to research and explore the economic impact, market readiness, and  potential robust and fast applications of a CBDC based payment solution.  As per the news, SAMA seeks to review policy, legal and regulatory considerations before moving to the next phases of the CBDC journey to contribute to achieving the objectives of Saudi Vision 2030. H.E. Fahad Almubarak, Governor of SAMA stated "Local banks and payment companies will always be a cornerstone of this project and its ...

  A UAE restaurant is piloting Blockchain enabled halal food traceability with DNA verification with OneAgrix and its partner Blockchain OriginTrail, and Inexto. OneAgrix, Inexto, OriginTrail and their ecosystem partners are pioneering and comprehensive halal digitalization solution, tracing beef from the DNA to QR code. With just a smartphone, food consumers can now verify the origins of their food, trace it through the supply chain, verify the authenticity of the halal certificate, and confirm that the product is genuine. This end-to-end food traceability technology was showcased at a high-end restaurant in Dubai as a joint effort by OneAgrix, Inexto, OriginTrail, and their ecosystem partners for the launch of the traceability technology. Technology that enables buyers to trace the supply chain journey of the food is important to build consumer trust and ensure food safety by the retailers selling their products, also enabling fast product recall. OneAgrix and eight ecosys...

  UAE oil giant ADNOC ( Abu Dhabi Oil Company) is piloting a blockchain platform that will show how much CO2 was used to make products such as Murban crude ammonia, and aviation fuels. The pilot will be in cooperation with Siemens Energy AG.  Using smart sensor data gathered from across ADNOC’s operational chain, from oil to customer, CO2 utilization will be recorded onto a decentralized blockchain ledger. As per the press release, such transparency will allow independent regulators to certify the carbon intensity of products. It will also give customers greater confidence and clarity over the carbon footprint of their purchases. Abdulmunim Saif Al Kindy, Executive Director, People, Technology & Corporate Support Directorate at ADNOC, said: “People typically associate blockchain technology with crypto currencies, but the use of decentralized ledgers has significant implications for the energy industry. This pilot promises to shine a digital spotlight into our manufacturing...