Dubai, United Arab Emirates; 11 October 2022: The Dubai International Financial Centre (DIFC) Courts today announced the launch of a global digital vault. ‘tejouri’ was unveiled at GITEX Global, with live demonstrations showcasing the new platform’s functionality and security protocol features.
The new ‘digital home for your legacy’ will enable the upload and secure storing of documents ranging from insurance contracts, title deeds, Wills, and financial certificates, to images and multimedia files and can be utilised by all individuals globally.
All uploaded life admin files will be secured under the highest standards of security regulation, using multiple factors of authentication, encrypted data, personalised biometric information and safe-keeping ledgers through advanced cryptography. Using Distributed Ledger Technology (DLT), tejouri can ensure the transmission of your entire portfolio to your designated stakeholders, or loved ones, at a key time.
tejouri provides a unique platform that functions simultaneously as a cloud vault and an online safe for data, supported by a state-of-the-art onsite DIFC data centre and a secondary UAE-based backup data centre. Access to all data will be restricted to the ‘vault holder’ and the listed intended recipients, guaranteeing zero knowledge proof privacy principles.
His Excellency Justice Omar Al Mheiri, Director, DIFC Courts, said: “In our new digitally driven societies, we are all accumulating mass amounts of important documentation, whether it is for professional, or personal purposes. tejouri has been engineered to help address issues of storage and security of these documents and to enable individuals to now transfer this data to one secure location. The DIFC Courts, together with its public and private sector partners, is proud to be able to offer this distinctive service to the public, and to help contribute to a safer digital environment for all.”
The global repository was launched with the support of the HBAR Foundation, specialists in building Distributed Ledger Technology ecosystems, with Hedera technology being used by the DIFC Courts to construct a bespoke DLT architecture and establish access to a de-centralised trust application. Deca4 Advisory also supported the DIFC Courts with road mapping the tejouri service experience development.
Shayne Higdon, CEO, HBAR Foundation, said: “Hedera makes it cost-effective and practical to bring the security and accountability of a public ledger to the age-old challenge of document safekeeping, verification and sharing. The Dubai International Financial Centre (DIFC) Courts is demonstrating industry leadership in cost-effectively delivering next-generation digital services, saving people time, money, and headaches through this new digital vault, built on Hedera.”
Mohammed Mahfoudh, CEO, Deca4 Advisory, said: “We are privileged to have this opportunity to work on a project that enables the bridging of public and privates sector innovation. Our unique insight into service experience development ensures tejouri offers a new technological value proposition to the public.”
Established in 2004, the DIFC Courts is Dubai’s international English language common law judicial system and forms a key part of the legal system of the United Arab Emirates (UAE). It was established with the specific objective to enable the international community in the UAE to have greater confidence in the Emirate’s legal framework and to further strengthen investment and trade relations with Dubai and the UAE.
In early 2021, the DIFC Courts confirmed the launch of a new Division. The international Digital Economy Court is aimed at simplifying the settlement process of complex civil and commercial disputes related to the digital economy, reviewing national and international claims related to current and emerging technologies, including big data, blockchain, cryptocurrencies, artificial intelligence, and cloud services.
In the first six months of 2022, Phase II of the Court Tech Lab initiative was launched, with the project R&D programme launched to position Dubai as the city that pioneers new industry-specific technologies.
Phase II involved a prototyping stage for two finalists, where they received financial support, as well as access to the DIFC Courts to research, test and adapt the technology solution. The finalists were FaceKi from Bahrain and CourtCorrect from the UK, who provided solutions to their assigned challenge.
Future research from the DIFC Courts will combine expertise and resources to investigate handling disputes arising out of private and public blockchains, with regulation and contractual terms encoded within the smart contract. Implications for cross-border data flows, digital and data governance, and ensuring protection and security of information for the business relationships that help drive the digital economy, are now being reviewed with accelerated intent.
For more information about the tejouri service, please visit www.tejouri.com