#ai solutions in ajman

[tektronixtechnology]

[furiousstarfishphilosopher]

Expedite IoT and BIM Technology Solutions for the Future UAE

Future with AI Solutions

In an era where technology is advancing at an unprecedented pace, artificial intelligence (AI) has emerged as a transformative force, reshaping industries and revolutionizing the way we live and work. AI solutions are no longer confined to science fiction; they have become an integral part of our daily lives, offering innovative solutions to complex problems. In this blog, we'll delve into the world of artificial intelligence solutions, exploring their diverse applications and the impact they are having across various sectors.

IoT Companies Abu Dhabi

#iotcompaniesuae #iotcompanies #iotsolutionsuae #iotcompaniesinalain #iotcompaniesinburdubai #iotcompaniesajman #iotcompaniesinuae #iotcompaniesinuae #iotcompaniesinalain #iotcompaniesinsharjah #aisolutions #aisolutionsabudhabi #aicompaniesinabudhabi #aisystemintegration #aicompanies #aicompaniessharjah

[rmechmachines]

Manufacturer of MSW Segregation Management Plant

R Mech Machines LLP is a Manufacturer of a Manufacturer of MSW Segregation Management Plant in Ahmedabad, Gujarat, India. We are located in Ahmedabad, Gujarat, India. We are a Manufacturer, Exporter, and Supplier of Plastic Scrap Turbo Washing Machines, Plastic Scrap Grinder Machines, Plastic Scrap Shredder Machines, Blade Sharpening Machines, Screw Press Squeezer Machines, and Friction Washer Machines. Our MSW segregation management integrate the latest technology to streamline waste processing. Equipped with advanced sorting mechanisms, automated systems, and intelligent controls, our plants ensure precise separation of recyclable materials from non-recyclables, minimizing human intervention and optimizing efficiency. We offer end-to-end solutions for waste segregation, from initial sorting and shredding to advanced separation and recycling. Our plants manage diverse waste streams—organic, plastics, metals, and paper—for comprehensive municipal solid waste management. Understanding that every municipality has unique needs, we provide customizable plant designs tailored to your specific requirements. Our experts will collaborate with you to provide a solution perfectly aligned with your waste management goals. R Mech Machines LLP is a Manufacturer of MSW Segregation Management Plant in Ahmedabad and Exporter in Kenya including locations like Dubai, Abu Dhabi, AI Ain, Sharjah, Umm Al Quwain, Ras Al-Khaimah, Ajman, Fujairah, Mina Jebel Ali, Dibba Al-Fujairah, Fujairah, Al Ruways, Al Jazirah Al Hamra, Hatta, Jebel Ali, Ruwais, Ajman, Fujairah, Umm Al Quwain, Kalba. For any questions or further information, please contact us. View Product: Click here Read the full article

[kenresearch1]

UAE Debt Collection Market is Expected to Reach More Than AED 5Bn by 2027 Owing to Rise in digital collection techniques and Improvement in UAE legal system related to debt collection, bankruptcy and insolvency: Ken Research

Buy Now

UAE Debt Collection Market Ecosystem

Tahseel, First Solution Management Service are the market leaders in UAE Debt Collection Market; the market is highly fragmented consisting of many players. The UAE Debt Collection Market is composed of many players which are operating across the borders and not just within the UAE.

 Key Market Findings:

Digital collections are being extensively used which leverages analytics to make the process more

Collection agents are being trained to equip them with latest technology and to adept them to various consumer situations for providing more feasible solutions.

The industry is slowly becoming more customer-centric in its approach.

Interested to Know More about this Report, Request for a sample report

IT Policies and Proper Documentation: Companies are maintaining proper documentation and proof for all debt provided by them to corporates and individuals. This makes it much easier for debt collection agencies to recover the debt in case of a default both amicably and legally as well through payment order method. Collection companies which provide settlement plans to debtors have start taking post-dated cheques as a proof for future payment. Changing IT policies require companies to maintain complete confidentiality of client information due to threat of data breach. All this factors will provide more growth to collection industry.

Emphasis on NLP Techniques: Collection agencies are extensively using various speech analytics tools to record and analyse customer conversations. This enables to maintain security and gain insights into client expectations. In addition, the information gathered can further be used for training of employees adapting them to different situations while negotiating and hence, improving their performance which would act as a key growth driver for debt collection companies.

Favorable Changes in UAE Legal System: The new legal system at UAE makes it possible to recover debts via court in merely within 7 days if all the documents are readily available. The new Bankruptcy law also provides safety for debtors and changes the shape of debt collection industry. Ultimately, act as catalysts for the industry.

Analysts at Ken Research in their latest publication- “UAE Debt Collection Market Outlook to 2027- Characterized by fierce competition and high growth prospects” by Ken Research provides a comprehensive analysis of the potential of the debt collection market in UAE. Rise in digital collection techniques and increasing use of AI and ML for recovery predictions are expected to contribute to the market growth over the forecast period.

UAE debt collection market is expected to grow at a robust CAGR over the forecasted period 2022-2027.

Key Segments Covered

Segmentation by Segment

Non-Finance

Finance

Insurance

Segmentation by Type of Firm

Debt Collection Agency

Law Firm

Segmentation by Age of Firm:

0 to 10 yrs

10 to 20 yrs

20 to 30 yrs

Segmentation by Geographical Presence

Abu Dhabi

Dubai

Fujairah

Sharjah

Ajman

Umm Al-Quwain

Ras Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

Motor & Transportation

Property/Fire

Liability & Others

Sub-segmentation of financing segment:

Real State

Personal

Financial institution

Services

Manufacturing

Trade

Others

Visit this Link :- Request for custom report

Key Target Audience

Existing Debt Collection Companies

Law Firms

Financing Companies

Non-Financing Companies

Insurance Companies

Debt Collection & Management software providers

Government Agencies

Finance Consultants

Others

Time Period Captured in the Report:

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022–2027

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

Tahseel

CMS

Aman Debt Collection

First Solution

Credit Recovery

AW Holding

Bilkish

Derby Group of Companies

Alpha Debt Collection

Fort Equity

Quick Action

ATDC

com

ALQADA

Law firms/Debt Collection

Taswiyeh

ASKTHELAW

HHS LAWYERS

DUBAI DEBT RECOVERY

STA

AE

AL ROWAAD

AL SAFAR

BIN EID

Regulatory Bodies and Judiciary

Central Bank of the UAE

Judicial Department

DEMAND SIDE:

Insurance companies

Etihad Credit Insuranc

Atradiuse

CIGNA

COFACE

PACIFIC PRIME

MetLIFE

ACE

Emirates RE

Financing companies

Emirates NBD

ADCB

DUBAI FIRST

Mashreq

Commercial Bank of Dubai

Dubai Islamic Bank

HSBC

RAKBANK

ADIB

FAB

CITYBANK

Non-Finance companies

Etisalat

Emircom

Etihad Water and Electricity

Abu Dhabi Distribution Companies

Emaar

Nakheel

Lufthansa

Choithrams

Asian Paints

Majid UL Futaim

Naseej

Key Topics Covered in the Report                            

Global Debt Collection Market Overview

Ecosystem of UAE Debt Collection Market – Demand and Supply Side

Value Chain Analysis – Amicable Settlement and Litigation Settlement

Market Size and Segmentation of Debt Collection Industry in UAE, 2017-2022

UAE Debt Collection Market Industry Analysis

Software used in UAE Debt Collection Market

Market Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022

Competitive Analysis

Future Outlook and Projections, 2022-2027

For More Insights On Market Intelligence, Refer to the Link Below: –

UAE Debt Collection Market Outlook to 2027

Related Reports by Ken Research: –

KSA Debt Collection Market Outlook to FY’2026

[middleeastvalve01]

Non lubricated plug valve in UAE

Middleeastvalve is a topmost Non Lubricated Plug Valve in UAE. We supply to cities like Dubai, Abu Dhabhi, Umm AI Quwain, and Ajman.

What is the purpose of non lubricated plug valve?

Non-lubricated plug valves are designed to provide reliable and maintenance-free operation in applications where lubrication is not desirable or possible. These valves feature a tapered or cylindrical plug that rotates within the valve body to control the flow of fluids through the valve. The absence of lubrication means that there is no need for frequent maintenance or re-greasing, making these valves ideal for use in applications where downtime must be minimized.

Non-lubricated plug valves are commonly used in a variety of industries, including chemical processing, oil and gas, and petrochemical refining. They are often used in applications where abrasive or corrosive materials are present, as these substances can quickly damage lubricated valves. Overall, the purpose of non-lubricated plug valves is to provide a reliable and cost-effective solution for controlling the flow of fluids in industrial applications, without the need for frequent maintenance or lubrication.

Middleeast valve is the leading Non Lubricated Plug Valve in UAE and  are typically made of materials such as stainless steel, carbon steel, or ductile iron, depending on the application and the fluid being handled.

Advantages:

It does not requires periodic lubrication

It reduces maintenance costs and down time

It is less prone to failure than lubricated plug valves

It makes them easier to operate manually

Industries:

Oil and gas industry

Chemical processing

Water and wastewater treatment

Power generation

Mining and minerals processing

Description:

Body materials: CF8, CF8M, CF3, CF3M, Ductile iron, WCB, WCC, WC9, WC6, Alloy 20, SS304, SS316, CF8M, SS316L, SS904L

Size:1/2”-14”

Class: 150 to 2500, PN16 to PN63

End: Flanged, Socket weld, Butt weld, Screwed.

Operation: – Lever Operated, Pneumatic Actuator, Electric Actuator, Gear operated

Visit us: https://www.middleeastvalve.com/product-category/non-lubricated-plug-valve/

[tinydreamerphilosopher]

[creativeautomation]

Why is CCTV Camera very Famous in UAE?

           CCTV Camera – Enhance the security of your premises with optimised CCTV cameras in Dubai, Sharjah and Ajman Undoubtedly, CCTV cameras are one of the most effective surveillance solutions for home and workplaces in Dubai. From optimizing the security of a place to helping monitor visitor and employee movement, there are enough advantages of adopting this technology.In order to equip your place – be it residential or corporate like malls, retail outlets and offices – you need to hire the best service provider for CCTV camera installation. We are one of the top CCTV camera companies in Dubai, Sharjah and Ajman. CCTV Solutions is equipped with advanced know-how for delivering excellent CCTV installation services.CCTV camera in Dubai, Sharjah and Ajman are primarily focused on the installation of the right equipment to cover your outdoor and indoor areas. 

https://www.creative-ae.com/services-sub.php?link=security-cctv-camera-dubai

     CCTV Camera Solutions offer one-stop CCTV camera solutions and installation services to its clients in Dubai and the rest of UAE that range from:Understanding the client’s exact security and logistic related requirementsOffering the implementation of the right CCTV equipment as we are Dubai’s foremost CCTV suppliers and solution companiesOffering high-end premium services related to CCTV camera installation in Dubai, Sharjah and Ajman.Undertaking annual maintenance services related work of CCTVs and surveillance systems in Dubai, Sharjah and Ajman.What are our key strengths that differentiate us from other CCTV installation companies in Dubai, Sharjah and AjmanOur extensive knowledge and know-how about CCTV camera installation services.Presence of trained and qualified technicians and engineers.We are based in Dubai and offer comprehensive services in Dubai, Sharjah and Ajman.

https://www.creative-ae.com/services-sub.php?link=green-building-management-system-dubai

         We supply and sell CCTV solutions from the world’s leading manufacturers and suppliers in Dubai.Our product range are compliant and adherent with international laws.We use advanced technology and technical aids for CCTV installation in Dubai, Sharjah and Ajman.Over the last few years, there has been phenomenal change in the way CCTV cameras are being made and installed the world over. There are apt solutions for every kind of budget. It is essential to work with the right service provider for CCTV camera installation in Dubai, Sharjah and Ajman. Else, it could get quite challenging to choose the right equipment and technology.The advantage of hiring CCTV Solutions as your vendor for CCTV services in Dubai is that we provide you with flexible and customized security and surveillance installation solutions and services in Dubai that help you in safeguarding your property and assets in the most optimal manner.Our first and foremost job is to understand your specific requirements for CCTV camera installation in Dubai. 

       For this, we work in close association with your security, front office and HR team to get a clear synopsis about the gaps in the existing system. Once we have a deeper understanding of the issue, we give our recommendations for the most appropriate surveillance equipment and CCTV services in Dubai, Sharjah and Ajman.With CCTV Camera as your surveillance partner and services provider in Dubai, Sharjah and Ajman you can be assured of receiving cost-effective installation services. We are Dubai’s one of the most competent CCTV installation companies equipped with the latest CCTV equipment and devices. We are one of the most committed companies in Dubai offering optimized security solutions and services to our clients. 

Website: https://www.creative-ae.com/services-sub.php?link=security-cctv-camera-dubai

Office Address: Office #207, Block A, Ajman Twin Towers, Sheikh Khalifa Road, Ajman, U.A.E

Contact: +97167315119

[shrutibansal38]

Regional initiatives are helping further the UAE’s vision of becoming the global leader in technology and digitization. Here’s how!

The Middle East is on the cusp of digital disruption, and leading this game is none other than the UAE. It is the only Middle East nation to have consistently ranked among the top countries in the world in the digital competitiveness index – in 2018 the UAE jumped up a spot (from 18th rank to the 17th) ahead of countries like Ireland, France, Germany, New Zealand, and Japan. The UAE globally ranked first in business agility, third in the regulatory framework, and fourth in talent.

According to the IMD World Digital Competitiveness Ranking 2018, the UAE’s improved ranking is mainly due to the nation’s dedicated efforts to foster technological development and increase the adoption of digital strategies in both public and private projects/initiatives. However, another McKinsey report (2016) shed light on one of the primary drivers of the UAE’s digital transformation, that is, digitally savvy consumers. In the UAE, where smartphone penetration is over 100%, people are always eager to try out new technologies and innovations.

Hamad Obaid Al Mansoori, Director General, TRA, stated:

“Developing the UAE’s digital infrastructure is one of the government’s major drives. It is closely aligned with the leadership’s directives to provide a favorable environment for technological development that enables future solutions while contributing to the objectives of the national agenda and the UAE Vision 2021.”

To accomplish this goal, numerous initiatives have been taken by both the UAE government and the regional governments. While the Smart Dubai Initiative aims to make Dubai “the happiest city on Earth,” in 2017, the UAE launched two landmark digital initiatives – the Dubai Internet of Things (IoT) Strategy and the Digital Wealth Initiative. These initiatives saw a massive adoption and implementation of IoT systems, blockchain tech, AI applications, and robotics, autonomous vehicles, and drones, hyperloop projects, to name a few.  

Then again, in 2017, the Ajman Digital Government (ADG) was established to fulfill the vision of Ajman as a “happy society” in sync with the UAE Vision 2021, National Agenda, and Spirit of the Union. Astonishingly enough, the ADG was able to complete almost 80% of the total digital transformation plan for 30 government services in the same year.

A similar initiative has also been taken in Sharjah. A digital transformation initiative was launched in Sharjah a few years ago to better serve its citizens and businesses, while also progressing the socio-economic development of the region. Under the Digital Transformation of Sharjah initiative, the Sharjah government seeks to foster better policy-making through a data-driven approach.

In 2018, the UAE Telecommunication Regulatory Authority (TRA) collaborated with Cisco to accelerate digital adoption for shaping the UAE’s digital future. According to this partnership, the TRA and Cisco will focus on specific key contributors to the UAE economy (smart government, tourism, healthcare, etc.) and will build digital projects to enhance the value of digital adoption in these areas.

With a strong drive towards digitization on the governmental level and with international partnerships, the UAE is indeed set on the path to becoming the pioneer of digital transformation.

We at Affle Enterprise grasp your business idea & ideate a personalized user experience to solve complex business problems. Connect with our team at enterprise@affle.com for quick mobile app development consultation.

[dailycryptonews-blog]

Crypto News - Meet DEEP AERO – the Blockchain-Oriented Company Providing Drone Technology

Meet DEEP AERO – the Blockchain-Oriented Company Providing Drone Technology DEEP AERO is releasing DRONE tokens during its initial coin offering (ICO) that started on May 1, 2018. As a potential investor, you would probably be interested to know more about the company’s vision and values. In th... You May Likes reading: Also Read: How to Buy Bitcoin With USD Dollar

Meet DEEP AERO – the Blockchain-Oriented Company Providing Drone Technology

DEEP AERO is releasing DRONE tokens during its initial coin offering (ICO) that started on May 1, 2018. As a potential investor, you would probably be interested to know more about the company’s vision and values. In the following lines, you’ll get relevant insights about the people behind DEEP AERO and the company’s initiatives, which will help you rely your investment decision on strong fundamentals.

DEEP AERO is a company focused on drone technology innovations. It is leveraging artificial intelligence (AI) and blockchain technologies to create game-changing solutions for the drone economy. The company is headquartered in Ajman, United Arab Emirates (UAE), and has offices in Southeast Asia.

At the moment, DEEP AERO is trialing prototype technologies such as dynamic geofencing, airspace design, congestion management, route planning, re-routing, terrain avoidance, separation management, sequencing and spacing, and contingency management among others. The company is implementing the technology in every possible area where drones can provide transformative solutions. With a little creativity, one can note that the drone technology can be adopted by any market sector, such as transport, agriculture, healthcare, insurance, and education among others. Nevertheless, DEEP AERO is particularly interested in transforming the cities’ transportation systems by creating aviation and cargo delivery systems.

DEEP AERO Team

The UAE-based company is backed by a talented team that has the ambition to accelerate the drone technology adoption.

The company’s executive team is organized as follows:

Chief Executive Officer– Gurmeet Singh Gurmeet has a Bachelor’s degree in Business Administration and Management from Delhi University. He is an early adopter of the drone technology and is confident that it can offer great benefits for consumers, industry and law enforcement.

Chief Financial Officer– Mayank Jain Mayank has a Bachelor’s degree in Commerce from Delhi University and a degree in Accounting and Finance from the prestigious Institute of Chartered Accountants of India (ICAI).

Vice President– Harsh Sharma Harsh has a Bachelor’s degree in Applied Science from the Kirori Mal College and a Master’s degree in Business Administration from the European Management Institute. He is also the founder and Director of New Delhi-based ZAP Realtors Pvt Ltd.

DEEP AERO can boast with a skilled technology team:

Principal Technical Architect– Kamaldeep Dhanju

Chief Blockchain Architect– Thomas McLaughlin

Technical Manager– Rushdeep Singh

Blockchain Expert– Navin Kapoor

Technology Consultant– Prabhjeev Narang

Blockchain Consultant– Kamlesh Nagware

Blockchain Engineer– Karthikeyan Thangavel

Blockchain Engineer– Sameep Singhania

Blockchain Researcher– Rajasekhar Guttapalli

Automation Testing Expert– Jagpreet Singh

As you can note from the company’s positions, the team is keen to explore the blockchain technology in the context of drone economy.

Blockchain, also called distributed ledger technology (DLT), is a revolutionary technology that revolves around a ledger that is replicated in multiple versions distributed among many servers. Whenever a new update is made in the system, such as a transaction, all the ledger replications validate it based on consensus. The fact that the ledger is stored in multiple servers makes it resistant to hacks. Blockchain ensures transparency, security, and low costs, given that it reduces the need for intermediaries.

The DEEP AERO team is also guided by an experienced group of advisors.

DEEP AERO Products

Despite it being a young company, DEEP AERO has already made a name and came out with several innovative products. Currently, the firm is working to launch three main products:

Passenger & Cargo Drones, which are vertical take-off and landing (VTOL) aircrafts transporting people and goods. If you’re new to this, VTOL refers to any aircraft that has the ability to hover, take-off and land vertically. Here is how a passenger drone looks like:

https://www.deepaero.com/docs/DEEP-AERO-White-paper.pdf

DRONE-UTM, which is a blockchain-based drone traffic management platform that is decentralized, intelligent, self-aware, and autonomous.

DRONE-MP, which is a marketplace for drone-related products and services.

The DRONE-UTM, which derives from unmanned traffic management, is a platform that was presented quite recently.

Commenting on the new system, CEO Gurmeet Singh reportedly said: “The use of unmanned aerial vehicles is increasing exponentially. We’re heading towards a future in which millions of drones will fly billions of flights.”

“At some point in the not-too-distant future, fleets of commercial drones are expected to swarm across the skies. Current airspace management and air traffic flow management systems don’t have the capabilities to handle the type of operations relevant to drones. In addition, the anticipated traffic density of drones is far beyond the capabilities of current air traffic management systems,” he added.

DEEP AERO Projects

The company is currently working on the UTM and MarketPlace development, sticking to its roadmap. To create a community and raise funds, DEEP AERO is also conducting an ICO event, releasing its DRONE tokens, which are priced at around 5 US cents.

The pre-sale period started on March 30 and was live until April 15, while the public sale started on May 1 and is arranged in three phases, with different bonus sizes depending on the period. Currently, investors can enjoy the most generous bonuses during Phase 1, which ends on May 15. During this stage, you can get:

25% bonus for investing 100 ETH or more;

20% bonus for investing10-100 ETH;

15% bonus for investing less than 10 ETH.

DEEP AERO aims to launch its MarketPlace product in September 2018. Next year in April, it wants to launch its UTM Beta Version Platform, with the full version being launched by October 2019. In July of the next year, the company hopes to start operating with cargo drones, while in January 2020, it should launch the passenger drone operations.

To support its growth, DEEP AERO partnered with VLK Aerospace, a legal and consultancy firm that provides manned and unmanned aviation-related solutions, and ethoss, a Leipzig-based international service agency.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

The post Meet DEEP AERO – the Blockchain-Oriented Company Providing Drone Technology appeared first on Global Coin Report.

  source: https://globalcoinreport.com/meet-deep-aero-blockchain-oriented-company-providing-drone-technology/

Post source: Meet DEEP AERO – the Blockchain-Oriented Company Providing Drone Technology

Source #bitcoin #news #cryptonews #cryptocurrency #dailybitcoinnew #todaynews

[tektronixtechnology]

IoT Integrated Software In Dubai

[furiousstarfishphilosopher]

Tektronix Technology: Pioneering the Future with AI Solutions

In an era where technology is advancing at an unprecedented pace, artificial intelligence (AI) has emerged as a transformative force, reshaping industries and revolutionizing the way we live and work. AI solutions are no longer confined to science fiction; they have become an integral part of our daily lives, offering innovative solutions to complex problems. In this blog, we'll delve into the world of artificial intelligence solutions, exploring their diverse applications and the impact they are having across various sectors.

The Power of AI Solutions

Artificial intelligence is more than just a buzzword; it's a game-changer. With its ability to process vast amounts of data, learn from patterns, and make informed decisions, AI solutions are driving advancements across domains.

#aisolutions #aisolutionuae #aisolutionsabudhabi #ArtificialIntelligencecompaniesinDubai #aisolutionsaudi #aicompaniesuae #aicompaniesabudhabi #aicompaniesabudhabi

#topaisolutionsuae #topaicompaniesinajman

[iota-news]

This year marks blockchain´s 10th birthday, after Satoshi Nakamoto created it with the purpose of using it for the first cryptocurrency ever, Bitcoin, and Dubai has become a leader in the field.

“Dubai is a pioneer in the blockchain space, says Mohamed Rashid, the co-founder and chief technical officer at WaveX, a peer-to-peer crowdfunding and energy trading market place.

Blockchain technology consists of a decentralised, distributed public digital ledger to record transactions, verified by miners to avoid duplications. Since its creation, blockchain has ushered in a new raft of applications.

Mr Rashid also works full-time as an implementation consultant for blockchain projects at Avanza Innovations in Dubai, which, according to the company, “builds future-proof tech that reshapes how organisations function, today and beyond”.

“In Avanza Innovations we are building a blockchain agnostic adaptor called Cipher that has the capability to communicate with any underlying blockchain technologies,” he says. “Cipher is currently being used in a Dubai Pay reconciliation and settlement project done by Avanza. Moreover, at WaveX, we are trying to democratise the electricity industry by giving people investment opportunities in utility industry and the ability to sell any excess electricity.

“We are currently in the live testing phase with the help Ajman University’s Innovation Center, and will be out of the testing phase soon,” he says.

Mr Rashid says the fundamental goal of blockchain is, in his opinion, “to bring power to the masses, and it is slowly achieving that goal”.

Blockchain is today present in many sectors; from securing property rights in the real estate lifecycle, in tracking shipments in the transport industry, in the healthcare sector to create a common database of health information that doctors and providers can access, in fintech through solutions for borrowing money or buying cryptocurrencies, in digital commerce for more secure shopping, in smart cities, to digital personal identification, verifying the academic data of overseas students and of labourers hired to work from abroad, and in the energy sector through smart solutions enabling resources to be used more efficiently.

Mr Rashid says he was introduced to blockchain development in late 2016 during the Blockchain Hackathon organised by World Government Summit. “I was [working] in sustainability for some time, and I wanted to bring the power of blockchain to help the environment and create a new economy powered by people,” Mr Rashid says.

Nevertheless, he sees power requirements, speed of transactions and fees as among the limitations of the technology at present: “High energy consumption for proof of work [PoW] based algorithms, and high transaction confirmation times are some of the big challenges.” PoW is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.

“Moreover, increasing transaction fees is also another hurdle, but the community is actively working on coming up with technologies to overcome these problems.”

Youssef El Allali, an artificial intelligence (AI) and blockchain developer at Dubai-based ArabianChain Technology, concurs. His says he first came into contact with blockchain via bitcoin five years ago: “I was really fascinated by this new trust protocol that allows anyone to make transactions anonymously and with very acceptable fees. But, he says, “With time, problems started to pop up. First, mining becomes centralised and only people with asic-mining devices were able to profit from it, transaction fees went high, and the number of unconfirmed transactions was skyrocking.”

New blockchains emerged trying to solve some of the bitcoin’s issues, he says, as others aimed to expand the use and application of the technology. “It lead to great innovation, new consensus algorithms, smart contracts, DApps [Decentralised Applications], and permissioned blockchains. Those blockchains had very interesting features but a very big limitation: scalability,” Mr El Allali points out. Blockchain tech for Bitcoin suffers from blockages. “Bitcoin makes seven transactions per second,” Mr El Allali says. Ethereum approves 13 transactions per second, Paypal makes 115, and Visa reaches to 4,000.

One new technology that appears to address the issue of scalability is Iota, a cryptocurrency but, unlike just about every other cryptocurrency, it’s not built on a blockchain. Aiming to design a distributed ledger that’s low-cost and scalable enough for the Internet of Things (IoT), the project’s developers started from scratch in 2016 and built a new sort of structure they call the “Tangle”.

Every time a node wants to transfer some value, it must validate two previous transactions. This validation requires a small amount of PoW in order to secure the network, meaning that transactions are not strictly free. But, since there is no distinct group of miners who must be compensated, there are no fees with Iota. Proponents argue that this no-fee structure enables the kind of microtransactions that would be impossible with Bitcoin.

Sceptics point out that while the Iota Foundation has built a working Tangle – the only one – there is a gulf between the ideal of the Tangle and the reality of Iota. The developers face a number of challenges in getting their technology ready for the IoT, and some of their decisions have attracted strong criticism.

Iota is a public distributed ledger that stores transactions in a directed acyclic graph (Dag) structure, and removes the cost of the energy inefficient mining process required by many Bitcoin-based cryptocurrencies and it grows via transactors, not miners, thus avoiding centralisation.

Its makers are aiming for it to be the backbone of the emerging machine-to-machine (m2m) economy of the IoT, data integrity, micro-/nano payments, and other cases where a scalable decentralised system adds value.

“Iota’s network becomes faster with more transactions, which is the exact opposite in the case of blockchain,” Mr El Allali says. “Also, a node only needs a small part of the Dag to make transactions and you can make transactions without fees.” He adds that Iota networks can handle more than 500 transactions per second, and he expects Iota will expand as more people and entities take it up, making it a better solution for m2m and micro transactions.

As a way to compare the two technologies, blockchain works like a restaurant where customers are served by a finite number of waiters while Tangle offers a buffet where everyone is served at the same time, so increasing the number of machines running Iota will speed up the network. Transactions can be validated from any device: phone, car, even smart fridge.

Iota’s proposed application, IoT, could benefit enormously from a network able to complete high volumes of minute transactions, according to a report by Nasdaq.com. Making that network trustless and distributed, as Iota aims to do, could open up new economic possibilities. A smart device could “pay its assembly, its maintenance, its energy and also for its liability insurance by giving data, computing power, storage or physical services to other machines”, Carsten Stöcker and Kerstin Eichmann of innogy wrote in a post on Iota’s blog.

But Iota is likely to be an alternative to blockchain rather than erdicate it, as a lot of hardware will be necessary as more people and machines join the Tangle: “Iota, or Dag distributed systems in general, have great potential in the Internet of Things [world] and for micro transactions, but I don’t think it will replace blockchain,” says Mr El Allali.,

Iota and ‘Tangle’ set to put blockchain on the block was originally published on thenational.ae. The IOTA-News Community curates, examines, and summarizes news from external services while producing its own original material. Copyrights from external sources will be credited as they pertain to their corresponding owners. The purpose is to make use of 3rd party content or pictures as either allusion or promotional endorsement of mentioned sites. If you have a claim of copyright infringement with respect to material, please mail to support[at]iota-news.com. IOTA-News.com is a community run website and is NOT affiliated with the IOTA Foundation in any way.

The post IOTA & Tangle set to put blockchain on the block appeared first on IOTA News.

via IOTA News

[kenresearch1]

UAE Debt Collection Market is in the Growing Stage, Driven by Changing IT Policies and Documentation and Rise in Awareness Due to the COVID-19 Pandemic among the Population: Ken Research

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The Collection Industry in UAE peaked right before and during the pandemic. Increased amount of lending along with rising defaults presents great opportunities for debt collection.

Covid Led Growth: COVID-19 pandemic bough certain challenges for debt collection agencies in terms of worsening the financial situation of debtors leading them to refuse paying their debts. However, it made the public more aware about the existence of debt collection services which motivated them to fulfil their debt obligations. Pandemic also increased the number of default accounts bringing more business for collection agencies and inducing growth.

Rise in Digital Collections: Debt Collection companies used to rely on phone-calls to make recoveries which led to terrible customer experience and wastage of time. Digital collections are being extensively used which leverages analytics to make the process more efficient and act as catalysts for the industry.

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Growing focus on Regulatory Compliance: Debt Collection companies have started to place more focus on complying with all regulations for a better customer service. They are maintaining proper documents, getting cheques as proof for future payment and amending the penalty terms.

Changes in UAE Legal System: The new legal system at UAE makes it possible to recover debts via court in merely within 7 days if all the documents are readily available. The new Bankruptcy law also provided safety for debtors and changed the shape of debt collection industry.

Analysts at Ken Research in their latest publication- “UAE Debt Collection Market Outlook to 2027- Characterized by fierce competition and high growth prospects” by Ken Research provides a comprehensive analysis of the potential of the debt collection market in UAE. Rise in digital collection techniques and increasing use of AI and ML for recovery predictions are expected to contribute to the market growth over the forecast period.

UAE debt collection market is expected to grow at a robust CAGR over the forecasted period 2022-2027.

Key Segments Covered

Segmentation by Segment

Non-Finance

Finance

Insurance

Segmentation by Type of Firm

Debt Collection Agency

Law Firm

Segmentation by Age of Firm:

0 to 10 yrs

10 to 20 yrs

20 to 30 yrs

Segmentation by Geographical Presence

Abu Dhabi

Dubai

Fujairah

Sharjah

Ajman

Umm Al-Quwain

Ras Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

Motor & Transportation

Property/Fire

Liability & Others

Sub-segmentation of financing segment:

Real State

Personal

Financial institution

Services

Manufacturing

Trade

Others

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Key Target Audience

Existing Debt Collection Companies

Law Firms

Financing Companies

Non-Financing Companies

Insurance Companies

Debt Collection & Management software providers

Government Agencies

Finance Consultants

Others

Time Period Captured in the Report:

Historical Period: 2017-2022

Base Year: 2022

Forecast Period: 2022–2027

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

Tahseel

CMS

Aman Debt Collection

First Solution

Credit Recovery

AW Holding

Bilkish

Derby Group of Companies

Alpha Debt Collection

Fort Equity

Quick Action

ATDC

com

ALQADA

Law firms/Debt Collection

Taswiyeh

ASKTHELAW

HHS LAWYERS

DUBAI DEBT RECOVERY

STA

AE

AL ROWAAD

AL SAFAR

BIN EID

Regulatory Bodies and Judiciary

Central Bank of the UAE

Judicial Department

DEMAND SIDE:

Insurance companies

Etihad Credit Insuranc

Atradiuse

CIGNA

COFACE

PACIFIC PRIME

MetLIFE

ACE

Emirates RE

Financing companies

Emirates NBD

ADCB

DUBAI FIRST

Mashreq

Commercial Bank of Dubai

Dubai Islamic Bank

HSBC

RAKBANK

ADIB

FAB

CITYBANK

Non-Finance companies

Etisalat

Emircom

Etihad Water and Electricity

Abu Dhabi Distribution Companies

Emaar

Nakheel

Lufthansa

Choithrams

Asian Paints

Majid UL Futaim

Naseej

Key Topics Covered in the Report                            

Global Debt Collection Market Overview

Ecosystem of UAE Debt Collection Market – Demand and Supply Side

Value Chain Analysis – Amicable Settlement and Litigation Settlement

Market Size and Segmentation of Debt Collection Industry in UAE, 2017-2022

UAE Debt Collection Market Industry Analysis

Software used in UAE Debt Collection Market

Market Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022

Competitive Analysis

Future Outlook and Projections, 2022-2027

For More Insights On Market Intelligence, Refer to the Link Below: –

UAE Debt Collection Market Outlook to 2027

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KSA Debt Collection Market Outlook to FY'2026

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