Business & Money | Thursday 7 June, 2018 3:34 am |

Beijing Tai Cloud Technology, the first blockchain company in China’s new OTC market (stock code: 430070), has announced the launch of its UAE operations aimed to leverage opportunities of trading in blockchain technology. 

 

Tai Cloud is a pioneer in the research and application development of the blockchain technology system in the People's Republic of China. The company established the Tai Cloud Dubai Branch and China Blockchain Application Research Centre (Dubai) in line with the blockchain technology programmes to empower Dubai’s Smart City drive. 

 

Tai Cloud partners with Dubai-headquartered Duwaya Investment Group to launch the operations in the UAE. 

 

Mr. Danny Deng, Chairman of China Blockchain Application Research Center and Chairman of Tai Cloud Group; Dr. Wang Wei, Founding President of the China M&A Association; Mr. Abdulhamid Duwaay, Chairman of Duwaya Investment Group; and Mr. Behram Faroogh, PwC Partner attended the launch ceremony. 

 

Commenting on the launch, Mr. Danny Deng said, “We are proud to launch Tai Cloud operations in Dubai. Dubai is among the world’s first cities to be driven by the blockchain technology and has a high-quality soil for the development of the blockchain industry.” 

 

“With this establishment of Tai Cloud Dubai Branch in Dubai, we are promoting the development of Dubai’s smart city program by implementing the Tai Cloud blockchain industry beyond China. The formation of the China Blockchain Application Research Center (Dubai) aims to promote the blockchain industry and academic exchanges between China and the UAE to strengthen the communication between the blockchain highlands of China and the UAE.” he added. 

 

“We have been deploying the global blockchain industry in China for the past one year, following the country’s ‘One Belt, One Road’ initiative, a major economic program that could transform trade in Asia,” Deng further said.  

 

Tai Cloud developed the first financial-level blockchain system of independent intellectual property rights in China in 2014. Tai Cloud established blockchain industry system in several fields like copyright, food, transportation, medical care, public welfare, supply chain, big data, tourism and finance, and supplemented by providing industry solutions. 

 

Tai Cloud has received about 100 patents and software copyrights in the fields of blockchain, cloud computing and other technologies.