eAed

Part of the CBridge CBDC family, for stackable layers of income, (qazempire.org) Issuser Address: GBXRTFRDVRJPILE2OEJB37MBJKP5SWSQJKFZD25DN3U6ACMJGGM55YLH ICO On 16/11/2023 CB:240,000%

 CBridge asset

AED is the official currency of the United Arab Emirates. However, before 1966, all the emirates that now form the UAE used the Gulf rupee, which was at that time pegged at parity to the Indian rupee. On 6 June 1966 (6666), India announced the devaluation of the Gulf rupee against the Indian rupee. Unwilling to accept the devaluation, several of the Emirati states decided to adopt their own or other currencies. Six of the Trucial States adopted the Qatar and Dubai riyal, which was still equivalent to the Indian rupee, but Abu Dhabi used the Bahraini dinar. Finally in 1973, the UAE adopted the UAE dirham as its currency

A scandal arose in August 2006 when it became publicly known that the Philippine 1 peso coin is the same size as one UAE dirham, so, because the peso was worth less than the dirham, it led to widespread vending machine fraud in the UAE, and the system had to be changed nationwide

However, unlike nearly a decade ago, the UAE now has advanced technologies in place to combat fraud, such as newly unveiled comprehensive guidelines targeting virtual asset service providers (VASPs) (https://www.centralbank.ae/media/g5bgxlz5/joint-guidance-on-combating-the-use-of-unlicensed-virtual-asset-providers-in-the-uae-en.pdf) operating within the country. The new guidance includes stringent penalties for VASPs operating without necessary licenses. This move is part of the UAE’s broader efforts to improve its standing with international financial regulatory bodies, such as the Financial Action Task Force (FATF). In November the National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) and the CBUAE jointly released a list of “Red Flags” for VASPs. This list includes several indicators that can help identify suspicious parties, such as the absence of a regulatory license, making unrealistic promises, poor communication practices, and a failure to provide regulatory disclosures. The key highlight of the new guidance is the expectation that all licensed financial institutions (LFIs), designated non-financial businesses and professions (DNFBPs), and licensed VASPs must report transactions involving suspicious parties, which be done through whistleblowing mechanisms

His Excellency Khaled Mohamed Balama, the Governor of the CBUAE and Chairman of the NAMLCFTC, shed light on the rationale behind the new guidance. He pointed out that as digital assets have become more accessible, 
the need to combat various forms of financial crimes has intensified
- reported by Lacton Muriuki of Cryptopolitan, "Virtual asset service providers face regulatory scrutiny in the UAE" (https://www.msn.com/en-us/money/companies/virtual-asset-service-providers-face-regulatory-scrutiny-in-the-uae/ar-AA1jAmmL) (8 November 2023)

Another recent and major technological enhancement is the UAE’s Digital Bank Liv's (https://www.crowdfundinsider.com/2023/11/215415-uaes-digital-bank-liv-introduces-instant-personal-loans-without-fees-via-fintech-app/) latest announcement on 7 November 2023 that it is currently trialing fee-less instant personal loans via the Liv app until end of 2023

To empower Generation Now, comprising young professionals and digitally minded consumers, to fulfil their personal aspirations
Liv’s brand motto "Liv Ahead"

Ergo, all fees charged during Liv's promotion period will be refunded to the customers within the month. Other benefits of Liv include:

- "Bonus Multiplier Account" to reward customers for their loyalty, giving them a 3% increment on their monthly salaries
- offer "Money Ahead Deposi" with up to 4% interest upfront on day one instead of deposit maturity
- credit cards that allow one-click switching rewards between airline miles and cashback

CBDC

With all of these and other fintech upgrades, the UAE is an ideal playground to test the CBDC Bridge (CBridge) (https://t.me/qazempire23/14) technology on their eAED as 60% of their population is under the age of 30, in general they are highly tech-savvy, and over 50% of its residents already actively use digital wallets

In March 2023, the Central Bank of UAE and the Reserve Bank of India (RBI) (https://t.me/QuantumStellarInitiative/16230) signed an initial agreement to boost co-operation and enable innovation in financial products and services

In July 2023, India and the UAE signed an MOU to link their payment systems and messaging systems together (https://menafn.com/1107433065/Advanced-Technology-Is-Changing-The-Banking-Industry-Experts), and in October 2023 India's Rupay card (India's own card payment network) which has debit, credit, and prepaid options via Unified Payment Interface (UPI) will soon be launched in the UAE. Indian ambassador to the UAE Sunjay Sudhir also stated that they signed a "local currency trade settlement mechanism" (collateralized assets through CBDCs via Stellar blockchain liquidity and AMMs), so that exporters and importers can make payments in either UAE dirhams or Indian rupee in order to "de-risk the payment systems"

Per a March 2023 CBUAE announcement, the first phase of the Digital Dirham (eAED) is expected to be completed over the next 12 to 15 months, or around mid-2024 (https://www.centralbank.ae/media/lpoilyue/cbuae-launches-the-central-bank-digital-currency-strategy-the-digital-dirham-en.pdf). The CBUAE also signed an agreement with Abu Dhabi's G42 Cloud and digital finance services provider R3 (https://www.thenationalnews.com/business/banking/2023/03/23/uae-central-bank-starts-implementing-digital-dirham-strategy/) to be the infrastructure and technology providers for the implementation of its CBDC and will include three major pillars (https://u.ae/en/about-the-uae/strategies-initiatives-and-awards/strategies-plans-and-visions/finance-and-economy/central-bank-digital-currency-strategy):

- soft launch of the ongoing project mBridge
- proof-of-concept work for a bilateral CBDC bridge (CBridge) with India
- proof-of-concept work for a domestic wholesale and retail CBDC

The mBridge (https://t.me/QuantumStellarInitiative/17955)
initiative was carried out in 2022 in collaboration with the Hong Kong Monetary Authority, the Bank of Thailand, the Digital Currency Institute of the People's Bank of China, and the Bank for International Settlements

CBRIDGE

eAED is the "second layer" or secondary asset to join the CBridge (CBDCBridge) matrix. Each additional CBDC created/upgraded with this novel self-banking technology (https://t.me/qazempire23/14)
will become an additional layer, forming stackable layers of residual/passive income for investors. In addition, each CBridge asset will use generative AIML to self-develop and improve upon itself exponentially to create a groundbreaking, self-sustaining, self-governing, and self-empowering ecosystem will finally bring true sovereignty and freedom to the world ?️❤️

Everything is connected
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