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Sheikh Hamad Rakadh Salem Hamad Alameri, member of the prestigious Sovereign Wealth Fund (SWF) of the Abu Dhabi royal family, signed an understanding to develop Dubai Smart City in Formally become a shareholder of MaskEX after the Memorandum of Understanding (MOU).
Hamad Alameri is a strong supporter of Abu Dhabi’s Vision 2030, contributing directly to the emirate’s social and human development and creating a sustainable knowledge-based nation. MaskEX is a Canadian company. It has successfully met the requirements of the MSB compliance program and is now fully ready to comply with the regulations in Dubai’s SCA and VARA compliance programs. The company has developed a payment system based on the principle of “your wallet, you call the shots”, aiming to make life easier for residents by providing a convenient and secure way to make payments and manage financial transactions. In addition to this, the system employs advanced security measures to protect users’ personal and financial information from fraud and identity theft.
Over the past year, the company has attracted a lot of attention from traders and investors in the UAE market, which has sparked extensive research and ideas for developing new smart city concepts in the UAE. MaskEX will use its innovative technology to improve service quality and access, and to increase efficiency and sustainability. In addition to this, MaskEX is now working with BIG 4 audit firm to protect the ecosystem and blockchain infrastructure.
After completing the strategy and implementation for the UAE market, MaskEX plans to expand into the MENA region to serve people and help them adapt to smart cities. Due to the popularity of the MENA region as a tourist destination and its diverse expat community, MaskEX will be able to attract investors from different industries.
To realize the full potential of smart cities, MaskEX will partner with lifestyle retailers. Currently, the company has signed a number of memorandums of understanding with merchants in multiple countries, enabling customers to pay for products, services and even living expenses by simply scanning their wallets.
Eric Yang, CEO of MaskEX, said: “The smart city concept covers many fields, such as healthcare, manufacturing, etc. The most important thing is a new concept of our solution. We will largely realize this vision.”
With the support of new MaskEX shareholder Sheikh Hamad Bin Rakad Bin Salem Bin Rakad, MaskEX expects to create a unique environment in the UAE market to attract more FDI into the region and create innovative solutions in the market. Therefore, MaskEX will relocate its headquarters from Canada to the UAE. The MaskEX app now provides users with access to various digital industry services that can be accessed through the app.
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