During the Fintech Abu Dhabi Festival, which took place during Abu Dhabi Finance Week (ADFW), the ADGM Courts (Abu Dhabi Global Market Courts) announced the first use of blockchain technology for the execution of international business judgments.

The blockchain system will help the parties save both time and money when enforcing their business decisions. Through the ADGM website, API, or directly on the blockchain for member courts, secure and immutable judgements will be immediately available to the parties and enforcement courts. It will no longer be necessary for parties to wait for a certified copy of the judgement before initiating proceedings in the enforcement jurisdiction. This is a huge improvement for global commerce. ADGM Courts Registrar and Chief Executive Officer Linda Fitz-Alan remarked, “Our objective has always been to revolutionise court services through technology. To better serve the urgent needs of the global business community and to effect sustainable change in the justice system, we are shifting our attention to law enforcement. The ADGM Courts’ status as pioneers in the digitalization of justice has been bolstered by the use of blockchain technology for commercial courts.

Source: Prnewswire