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The Dubai Family Office has launched a $100 million blockchain investment fund.
The family office of UAE Prime Minister Sheikh Hamdan bin Ahmed Al Maktoum has created a $100 million Blockchain Investment Fund in an effort to fulfill the region's objective of putting 50% of government transactions on the blockchain by 2021.
- The fund's debut is being spearheaded by Sheikh Hamdan bin Ahmed Al Maktoum's private office, which will collaborate with the ECN Launchpad platform to invest in blockchain-based companies.
- Since 2016, the Dubai administration has said that it wishes to protect all official records on a blockchain and has started a number of pro blockchain projects.
- The office said it will work closely with business companies and regulatory bodies to find investment opportunities in the blockchain sector.
- “This is a key milestone, we hope that through our knowledge and capital, we can bring great talent and technology to the region through Dubai. ECN is an important platform that can multiply the impact of our reach,” said Ahmad Aljariri, CEO of the private office in a press release.
