Tag: crypto

TechPulse

DITE&C Accelerates Blockchain Innovation in Goa Through Industry–Academia Collaboration

Tanisha Cardozo

Written by Tanisha Cardozo || Team Allycaral

The Department of Information Technology, Electronics and Communications (DITE&C), Government of Goa, has strengthened its commitment to advancing blockchain adoption in the State by initiating the formation of a dedicated blockchain community. This effort brings together industry leaders, academic institutions, incubators and technology experts to explore opportunities for tokenization and the broader potential of blockchain solutions. The initiative was supported by McLaren Strategic Solutions and Omnumi, a global blockchain platform known for secure, compliant and adaptable frameworks for tokenized deposits and regulated digital currencies.

The meetings, held at Paryatan Bhavan in Panjim, created a vibrant space for collaboration. Omnumi representatives, including CEO and Co-founder Kirk Chapman, CTO Sree Tirumalasetti, Chief Architect Robin Huiser, Head of Product Delivery Joe O’Rourke and Head of Service Delivery Natalie Nopareporn, engaged participants across three specialized sessions. Corporates were introduced to the fundamentals of tokenization and the capabilities of the Omnumi platform. Blockchain specialists took a deeper dive into the platform’s technical features, with discussions on multisig architecture, card integration and deployable ERC20 contracts led by Chief Architect Robin Huiser. The final session focused on academia and incubators, exploring pathways for collaboration and skill development to prepare Goa’s youth for future opportunities in digital innovation.

Shri Rohan Khaunte, Hon’ble Minister for Information Technology, Electronics and Communications, emphasized that Goa’s youth possess immense potential and that blockchain is poised to be a transformative force for them. He highlighted the State’s commitment to fostering emerging technologies and creating opportunities for young professionals.

McLaren Strategic Solutions has already established Goa as a global hub through the creation of its Development Centre last year. Now, following this momentum, Omnumi is planning to set up its own operations in Goa. Together, they aim to recruit over 200 professionals in the coming years, demonstrating confidence in Goa’s tech talent and signaling further growth in the local innovation ecosystem. Representatives from McLaren noted that Goa’s academic partners and students are highly motivated to work on real-world challenges, and the company plans to provide sandbox access to the Omnumi platform along with training and support to help bring new ideas to life.

DITE&C’s ongoing efforts to position Goa as a center for emerging technologies received strong reinforcement through these discussions. Plans for a two-day hackathon will further encourage experimentation, skill-building and the development of practical use cases. The McLaren team also proposed a Goa Tourism App powered by the Omnumi Wallet, signaling opportunities for blockchain-driven solutions across sectors. Overall, the initiative marks a significant milestone in Goa’s journey toward becoming a thriving hub for digital innovation, collaboration and technological advancement.

International

UAE Launches Digital Dirham: A New Era of Money Is Coming by End of 2025

Tanisha Cardozo

The United Arab Emirates is on the brink of a historic financial transformation. By late 2025, the Central Bank of the UAE (CBUAE) will roll out the Digital Dirham, a state-backed central bank digital currency (CBDC) designed to revolutionize everyday payments, business transactions, and cross-border remittances.

Not Cryptocurrency — A Legal Digital Currency

Unlike cryptocurrencies, the Digital Dirham is fully regulated, legally recognized, and directly backed by the UAE government. It holds the same value and legitimacy as the physical dirham and will be widely accepted across the country — from supermarkets and taxis to school payments and utilities.

Key Features of the Digital Dirham

🔹 Instant, Low-Cost Transfers:
 Built on blockchain infrastructure, the Digital Dirham enables real-time, low-fee transactions — especially useful for the UAE’s expat community, which sends billions of dirhams abroad annually. During a trial involving China and India, a Dh50 million transfer was completed in just seven seconds.

🔹 Accessible to All:
 No bank account? No problem. Through dedicated digital wallets offered by banks, exchange houses, and fintech apps, the Digital Dirham is designed to be inclusive, ensuring even unbanked residents can participate in the digital economy.

🔹 Blockchain-Powered Security:
 Every transaction will be recorded and traceable, minimizing fraud and making the system more secure than cash.

🔹 Smart Contract Integration:
 Recurring payments such as rent, subscriptions, or EMIs can be automated using smart contracts, simplifying financial management. This also enables tokenization of assets and new forms of investment.

What It Means for You

The Digital Dirham will function just like cash — it can be used to pay for groceries, fuel, school fees, and more. But the difference lies in its speed, security, and flexibility. You’ll be able to make instant payments online and in-store, without needing a physical card, and avoid high transfer fees when sending money abroad.

It will also improve interactions with government services, such as paying fines, renewing licenses, or submitting business fees — all in a seamless, digital experience.

Part of the UAE’s FIT Program

This launch is a major pillar of the Financial Infrastructure Transformation (FIT) initiative, which aims to create a modern, interconnected, and cashless economy. It follows the introduction of a new Dirham symbol earlier this year — a stylized ‘D’ with two horizontal lines — reflecting the country’s modern monetary vision.

The Future of Money Is Here

The UAE’s embrace of the Digital Dirham positions it as a global leader in financial innovation. As the 2025 rollout nears, residents can expect even more convenient and secure financial services, paving the way for a faster, smarter, and fully digital economy.