Ethereum

Dubai Family Office Launches $100M Blockchain Investment Fund

The crown prince of the United Arab Emirates (UAE) Sheikh Hamdan bin Ahmed Al Maktoum family office has launched a $100 million Blockchain Investment Fund in a push to meet the region’s goal to put 50% of government transactions on the blockchain by the end of the year.

The private office of Sheikh Hamdan bin Ahmed Al Maktoum is behind the launch of the fund, which will work with ECN Launchpad platform investing in blockchain-based projects.Since 2016, the Dubai government has said that it wants all government documents secured on a blockchain, and it has launched a number of pro blockchain projects.The office said it will work closely with 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.

CORRECTION (Oct. 11, 18:20 UTC): Corrects the title of Sheikh Hamdan bin Ahmed Al Maktoum.

Read more: Dubai Free Zone Becomes First UAE Government Entity to Accept Bitcoin

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