Abu Dhabi Global Market (ADGM) and Hacken, a well-known leader in blockchain security auditing, have solidified their partnership by signing a Memorandum of Understanding (MoU). The main goal of this collaboration is to collectively set new standards for blockchain security and compliance, representing a significant milestone in the blockchain industry.
This memorandum highlights a unique synergy between a regulatory authority and a security auditor, with the aim of establishing a top-tier security assessment standard for the blockchain sector worldwide.
As per the MoU, ADGM’s Registration Authority (RA) will work closely with Hacken to develop security protocols and on-chain monitoring solutions under the umbrella of ADGM’s DLT Foundations framework. This strategic partnership positions both organizations as pioneers in fostering a secure blockchain environment. It not only underscores ADGM’s crucial role in shaping regulatory frameworks but also emphasizes Hacken’s commitment to enhancing global blockchain security.
Primary Collaborative Projects
The key initiatives outlined in the MoU encompass joint efforts in:
- Setting Security and Compliance Standards
- Implementing Advanced DLT Foundation Monitoring Mechanisms
- Developing AI-Driven Monitoring Solutions
Hamad Sayah Al Mazrouei, the CEO of ADGM RA, has expressed ADGM’s dedication to establishing unparalleled global standards in regulatory compliance and security by harnessing the transformative power of blockchain and AI technologies. Al Mazrouei has highlighted the partnership with Hacken as a reflection of ADGM’s innovative approach and relentless pursuit of excellence. He has emphasized the integration of AI technologies as a pioneering strategy for regulatory advancement, promoting transparency, security, and trust in the digital domain. Al Mazrouei has stated that this collaboration marks a significant step forward in Supervisory Technology (SupTech), positioning ADGM at the forefront of this progressive movement.
Dyma Budorin, the Co-Founder and CEO of Hacken, has expressed gratitude for the opportunity to assist ADGM in this groundbreaking endeavor. Budorin has underscored Hacken’s extensive experience in collaborating with public sectors, citing their audits for the European Blockchain Services Infrastructure and partnerships with governmental bodies as evidence of their expertise. Together, Budorin has affirmed, ADGM and Hacken are establishing a new global benchmark for blockchain security and compliance, setting a precedent for the industry.
Through this strategic partnership, ADGM and Hacken aim to enhance the standards of blockchain security and compliance while fostering innovation and trust within the global blockchain community. This collaboration signifies a proactive approach to tackling the evolving challenges of cybersecurity and regulatory compliance in the digital era, paving the way for a more secure and resilient global blockchain infrastructure.