Memorandum of Understanding signed by Dubai Blockchain Center and Chaintech Labs Ltd

Memorandum of Understanding signed by Dubai Blockchain Center and Chaintech Labs Ltd
Memorandum of Understanding signed by Dubai Blockchain Center and Chaintech Labs Ltd

Dubai, United Arab Emirates–(Newsfile Corp. – July 30, 2022) – Dubai Blockchain Center (DBCC) and Chaintech Labs Ltd (CTL) have announced a new collaboration agreement to promote long-term research and development of blockchain technology for businesses and public authorities in the GCC region.

The agreement, in the form of a Memorandum of Understanding (MoU), formalizes the mutual interaction and strengthens the existing relationship between the Dubai Blockchain Center and Chaintech Labs Ltd at a strategic and working level, focusing on the introduction of global enterprises and public authorities on the blockchain, development of standards for public and private blockchains, smart contracts, fungible and non-fungible tokens.

Dubai Blockchain Center and Chaintech Labs

The Dubai Blockchain Center aims to bring together blockchain thought leaders, developers, investors and educators. Organizes free blockchain 101 awareness sessions in Arabic and English, and hosts Use-Case-Focused events.

Chaintech Labs Ltd is a blockchain research and development house, incorporated in the Dubai International Financial Center, and founded by a group of blockchain researchers and game developers from Stockholm, San Francisco, New York and Dubai. Chaintech Labs Ltd is the owner of more than 10 global NFT projects, including over a million people under the community, and a total token market capitalization of close to $1 billion.

DBCC and CTL have a common goal of serving private and public interests. This MoU provides for the continued strengthening of future cooperation between DBCC and CTL to achieve common goals that will increase the general understanding of blockchain technologies and how they will benefit society as a whole.

Erik Lydecker, CEO of CTL, said:

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“We are honored and humbled by the trust and support we have received from the Dubai Blockchain Center, in leading all blockchain technology endeavors in the UAE and beyond. We are very happy to operate with a partner like DBCC, in the most progressive and bold country in the world, in terms of incorporating and implementing cutting-edge technologies, across all industries.”

Dr. Marwan Al Zarouni, CEO of DBC, said:

“Our goal is to support creators and innovators in the crypto and blockchain space. This is in line with Dubai’s recently announced Metaverse strategy. Our collaboration with CTL enables us to tap into their community and create more opportunities for projects within the metaverse and NFT space as well as creating, supporting and promoting talent in Dubai, UAE and beyond.”

Media Contact Details:

Name: Abdulla Mohamed Al Dhaheri
Email: [email protected]
Location: DIFC, Dubai, UAE

To view the source version of this press release, please visit

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