Abu Dhabi Global Market Courts introduces first-of-its-kind blockchain technology in Abu Dhabi
The blockchain solution will result in substantial time and cost savings for parties in the enforcement of commercial judgements.
Abu Dhabi Global Market (ADGM) Courts announced the first-ever blockchain technology for the global enforcement of commercial judgement at the Fintech Abu Dhabi Festival on the occasion of Abu Dhabi Finance Week, as reported by Zawya.
The blockchain solution will result in substantial time and cost savings for parties in the enforcement of their commercial judgements. Secure, immutable judgements will be immediately available to parties and enforcing courts, via ADGM’s website, an API, or directly on the blockchain for member courts. Parties will no longer need to wait for a certified copy of the judgement to start the process in the enforcing jurisdiction.
Commenting on this development, Linda Fitz-Alan, Registrar and CEO of ADGM Courts, said, “Our vision has always been to massively transform the delivery of judicial services through technology. Our focus has now turned to enforcement to respond to the pressing needs of the international business community and to drive sustainable change for the justice sector. This trailblazing introduction of blockchain technology for commercial courts underscores ADGM and ADGM Courts’ reputation as leaders in the digitisation of justice."
Abu Dhabi Global Market is the international financial centre of UAE's capital city. Launched in October 2015, it governs the entire Al Maryah Island, which is designated as the financial free zone of Abu Dhabi.
Edited by Swetha Kannan
