The judicial authorities of the United Arab Emirates have launched a new record keeping system that will digitally certify judgments and make them available for enforcement anywhere in the world.
ADGM Courts, the developer of the accounting system, said that the use of blockchain technology will lead to significant time and cost savings for litigants in the enforcement of commercial dispute decisions. The ADGM Courts initiative relies on immutable technology to provide high confidence in the authenticity of judgments.
Decisions of arbitration courts will become available to the parties, courts and organizations that enforce them already at the time of issuance. The parties will not have to wait for a certified copy of the judgment in order to initiate proceedings in the executing jurisdiction.
ADGM Courts CEO Linda Fitz-Alan announced that this is “a groundbreaking solution to radically transform the provision of court services with the most advanced technologies.”
According to the executive, companies, especially those focused on international trade and commerce, “overwhelmingly” welcome the upgrade of the system. Because they will benefit many times over from the immediate execution of decisions on commercial disputes.
Earlier, the UAE government announced its readiness to create the most favorable conditions for the incorporation of technology companies and provide a ten-year residence permit allowing expatriates to live in the country.
Source: Bits
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