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Dubai rolls out a blockchain-based payments platform. Under the leadership of the Crown Prince of Dubai, Avanza Solutions signed a memorandum of understanding with Smart Dubai Office on 11th April 2017 to implement a citywide blockchain based payments platform. Avanza’s proprietary blockchain ‘Cipher’ is the chosen platform selected by the smart city initiative. According to the official website of the platform, the development is adaptable to both public and permissioned blockchain networks with the implementation of smart contracts through the open-source HyperLedger and Ethereum platforms.
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