Dubai Chamber of Commerce and Dubai's largest bank sign a memorandum of understanding on blockchain trade solutions

According to Gulfnews, the Dubai Chamber of Commerce and Industry (DCCI) has signed a memorandum of understanding with UDA, the largest bank in Dubai. Under the memorandum, UAE Bank NBD will provide a trade finance solution for DCCI's digital Silk Road platform, which aims to apply blockchain technology to eliminate major vulnerabilities in the global trading system.