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WIZBL, Korea's first 'blockchain distributed ledger technology' licensed in Dubai

▲ Park Kon, CEO of WIZBL. (Photo provided = WIZBL)
On September 13, 2022, WIZBL acquired a license (DMCC-859417) for the blockchain distributed ledger technology from DMCC (Dubai Multi Commodities Center) and the Dubai government; it was the first ever award to a Korean company.

The name of WIZBL’s local branch in Dubai is ‘WIZBL DMCC.’

As the R&D office, the branch will play an important role not only in blockchain technical development but will also provide technical support and education for local companies and marketing in the MENA (Middle East, North Africa) regions. DMCC is a free trade zone designated by the government and is called a global hub for blockchain business because of its Crypto center.

An official from the DMCC stated that Dubai is now being called “the Holy Land of blockchain” because of the expectation that pressure from the U.S. or other powerful countries will not affect Dubai’s blockchain policy.

Obtaining a license for blockchain distributed ledger technology from the DMCC is significant.

A WIZBL official said that “WIZBL is the only company that received a license for its blockchain core technology from DMCC and we’re preparing to collaborate and expand the global ecosystem with companies that have already entered and are planning to knock on the door of the DMCC.”

“Our goal is to commercialize a blockchain-based payment platform within the year in Dubai”, he added.

Park Gon, a WIZBL CEO, said, “We met with DMCC Chairman Ahmed Bin Sulayem in August to confirm DMCC’s policies and support programs, and to discuss whether WIZBL’s blockchain core technology can be a global standard. By acquiring this license, we will be able to demonstrate to the world that Korea is the origin of blockchain technology.”
Lee Han-soo, a reporter for Metamedia,