The Abu Dhabi Global Market has signed a memorandum of understanding with “Hacken,” a globally leading company in security auditing for blockchain technology, to establish a cutting-edge global standard for assessing security in this sector.
Under the memorandum of understanding, the registration authority in the Abu Dhabi Global Market will collaborate with Hacken to develop security standards and monitoring solutions along the chain regarding the framework of distributed ledger technology for institutions in the Abu Dhabi Global Market, making both the registration authority and Hacken pioneers in enhancing the comprehensive blockchain technology security system.
This collaboration not only showcases the role of the Abu Dhabi Global Market in developing regulatory frameworks, but also reaffirms Hacken’s commitment to enhancing decentralized technology security worldwide.
As per the memorandum of understanding, the collaboration includes the development of security and compliance standards, establishing advanced arrangements for monitoring distributed ledger technology for institutions, and enhancing monitoring solutions with artificial intelligence.
Hamad Suhail Al Mazrouei, the Chief Executive Officer of the registration authority in the Abu Dhabi Global Market, stated their commitment to setting global standards in regulatory compliance using blockchain and artificial intelligence technologies. Their partnership with Hacken reflects innovation spirit and their dedication to excellence. They offer an organizational model that enhances transparency, security, and trust in the digital environment through integrating artificial intelligence-based technologies. They consider the memorandum of understanding as a driving force for innovation in monitoring technologies and take pride in leading this significant development in the sector.
Dima Boudourine, the Co-Founder and CEO of Hacken, emphasized the importance of this collaboration and expressed gratitude for the opportunity to support the Abu Dhabi Global Market in this innovative project. She highlighted their expertise in working with public sectors, such as the auditing operations they conducted for the European blockchain services infrastructure and their collaboration with government entities, providing a strong foundation for this partnership. She expressed their readiness to establish a new global standard for blockchain security and compliance through joint efforts.