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Dubai Adopts Its First Cryptocurrency Legislation

Dubai Police will start using state-of-the-art artificial intelligence technology to analyze the blockchain ledgers.

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Like all technology, cryptocurrency can be used for both legitimate and nefarious purposes.

To establish Dubai as a cryptocurrency leader with a positive influence on the entire market, the United Arab Emirates (UAE) Sheikh Mohammed bin Rashid Al Maktoum has recently announced the adoption of the first legislation in the UAE to regulate cryptocurrency assets.

To oversee the execution of the new law and serve as a regulator of crypto activities, the Virtual Asset Regulatory Authority (VARA) has been set up in Dubai. One of VARA’s main responsibilities is the monitoring of virtual asset transactions to prevent price manipulations and other financial crimes. That’s no easy task to accomplish because popular cryptocurrencies like Bitcoin are pseudonymous, allowing asset holders to keep their real identities hidden.

Fortunately for VARA, Dubai Police’s cybercrime unit has been developing and using cutting-edge technology to make sense of virtual asset transactions.

“Technology is changing the world, and law enforcement is a part of that change. In order to combat crime, we are constantly researching new technologies” said Brigadier Dr. Saleh Al Hamrani, Dubai Police’s Deputy Director-General of Excellence and Entrepreneurship.

More specifically, Dubai Police is using state-of-the-art artificial intelligence (AI) technology to analyze the blockchain ledgers, which are essentially growing lists of records that are linked together as blocks using cryptography.

Also Read: 5 Gaming Cryptos That Will Explode In 2023

“We are going to work on the next generation of AI technology to help predict how and what are the risks we are going to face so that we are ready both internally and externally” Brig. Dr. Saleh added. “We are working and implementing AI not only for crime but also for traffic, security at the airport, and marine security”.

In the near future, the regulator of DIFC Dubai Financial Services Authority (DFSA) is also supposed to publish its own cryptocurrency regulation, and we will definitely keep you informed about it.

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Visit Iconic Mosques Worldwide With MetaMosque VR

For those with disabilities or economic challenges, visiting the Great Mosque of Mecca is now a real possibility.

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visit iconic mosques worldwide with metamosque vr

For Muslims worldwide, visiting mosques is of crucial religious and cultural importance. Unfortunately, not everyone shares easy access to a local place of worship, and many Muslims certainly can’t afford a pilgrimage to Al Haram, the Great Mosque of Mecca — even just once in their lifetime. Now, a new virtual reality project is attempting to break down those barriers.

MetaMosque is a virtual app that enables users to experience mosques around the world. Through the platform, Muslims can take part in a spiritual journey to experience the wonder of some of the world’s most significant mosques, fostering a sense of belonging and connection to these vital religious spaces, regardless of circumstances.

Samera Abed, CEO and founder of MetaMosque, devised the project for her 90-year-old mother, who now struggles to attend a mosque by herself.

“So just like how I taught her to use an iPhone, I am teaching her to be part of a community,” Abed explained. “She can go to her childhood mosque whenever she wants”.

Also Read: Yango App Now Alerts Muslim Drivers To Prayer Times

Available on Meta Quest, the MetaMosques immersive experience offers an engaging virtual exploration of prayer halls and a close look at the fine architectural details of some of the world’s most iconic Islamic buildings. After a virtual visit, users are encouraged to share their experiences in online discussions that aim to grow the accompanying MetaMosque community.

“I also know that this will be a great gift for many Muslims in the world who have disabilities or are facing economic challenges,” Abed adds.

MetaMosque currently offers access to ten mosques and a Majlis. The app is available on multiple platforms, including iOS, Android, PC, and Meta Quest, with inbuilt AI that can answer questions on Islamic knowledge and the history of these mosques, along with personalized reminders for upcoming religious events.

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