The Dubai International Financial Centre Courts (DIFC Courts) today announced the launch of a new digital public service suite at GITEX Global 2024, which includes a Digital Asset Will. The functionality, accessibility, and security protocols of the new platform were showcased on-site.
As part of the existing will services, the newly launched Digital Asset Will allows individuals to allocate their digital assets through non-custodial wallets. Non-custodial wallets enable users to flexibly reallocate assets within the wallet and maintain control over the flow of assets at any time during their lifetime, ultimately transferring the assets to beneficiaries in the form of "specific gifts."
The digital assets supported by this wallet include: ETH, BTC, MATIC, USDC, USDT, and HBAR. In the future, the system will also support NFT standards: ERC 721, ERC 115, Ordinals, and Hedera Token Service (HTS).
The new will template, along with other types of wills from the DIFC Courts, forms a comprehensive service system that includes Comprehensive Wills, Property Wills, Financial Asset Wills, Business Owner Wills, and Guardianship Wills. The DIFC Courts also offer an online automated will drafting service and a virtual registration system, allowing both domestic and international users to create and register DIFC Court wills online, with the option to connect with compliance officers in Dubai via video link.
These wills can also be uploaded to the globally launched digital vault “Tejouri” in 2022. Tejouri is a platform that combines cloud storage and online safe functionalities, supported by the DIFC data center and backup centers in the UAE. Access to the data is limited to the “vault holder” and designated beneficiaries, employing zero-knowledge proof privacy principles to ensure data security.
Documents in Tejouri are encrypted and stored using Distributed Ledger Technology (DLT), combined with biometric and multi-factor authentication technologies, ensuring that users' assets and sensitive data can be securely transmitted to designated beneficiaries at critical moments.
Notary services were also unveiled at this launch, marking the UAE's first service specifically for notarizing English documents. This service offers three modes: automated self-service, online virtual service, and on-site service, and supports Primary Source Verification (PSV) for document authentication.
Each notarized document will receive an electronic or physical seal, with notary information recorded via timestamps on the Hedera blockchain to ensure integrity. Documents will also be converted into NFTs compliant with the ERC20 standard for privacy and security. Supported document types for notarization include: affidavits, witness statements, wills, powers of attorney, business licenses, property certificates, health certificates, marriage certificates, and bank statements.
To further enhance the dispute resolution mechanism, the DIFC Courts have also launched a Mediation Service Center. Users can choose mediators and pre-agree on fees and terms, and mediation can be conducted online or on-site through the upgraded AI-supported Court Management System (CMS).
DIFC Courts Director Omar Al Mheiri stated: “In a digital society, individuals and businesses increasingly require easily accessible public services. Our mission is to break the boundaries of judicial services through the latest technology. These new services cover administrative matters such as notarization and can also address complex issues like mediation and inheritance. We collaborate with both public and private sectors to provide cutting-edge government legal services in the UAE.”
This service is supported by the Hashgraph Association, which has built a dedicated distributed ledger architecture and decentralized trust applications for the DIFC Courts using Hedera technology.
Hashgraph Association Chairman Kamal Youssefi stated: “We are honored to support the DIFC Courts in launching digital asset wills and notary services. These projects demonstrate our commitment to advancing the Web3 ecosystem and the Hedera network.”
The DIFC Courts are also collaborating with Deca4 Advisory and DataFlow Group to ensure the reliability of the service's digital architecture and document authentication. Deca4 Advisory CEO Mohammed Mahfoudh stated: “The DIFC Courts set a benchmark for global government and semi-government institutions through the integration of innovative technologies.”
The DIFC Courts are currently advancing their development according to the 2022-2024 roadmap, aligning with Dubai's Economic Agenda D33 and Dubai's Digital Strategy, supporting the UAE's national development goals.
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