Page 93 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

9/25/24, 3:10 PM Anti-fraud digital advertising platform VeraViews launches in UAE - GulfToday
VeraViews is the latest enterprise to take advantage of the Ministry of Economy's NextGen
FDI programme, which seeks to enhance the UAE's competitiveness by attracting innovative
companies with a package of market-entry fundamentals, including fast-track incorporation,
bulk visa-issuance and access to banking and commercial real estate.

Its open-ledger advertising platform is powered by patented blockchain technology and has
the potential to not only simplify the advertiser-publisher relationship but identify and
ultimately eliminate malicious actors from the sector, at the same time contributing towards
making the UAE the safest digital advertising ecosystem in the world.

Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, said, "The NextGen FDI initiative
continues to welcome cutting-edge companies that are developing and deploying advanced
technology to enhance some of our most important industries. VeraViews' distributed ledger
technology based advertising platform has the potential to revolutionise the media sector here
in the UAE – and, ultimately, across the world.

"Advertising is a crucial means for companies to build their business, expand their customer
base and promote their products and services, and it is vital we are able to create an industry
that is transparent and trustworthy, and an arena in which every dollar spent by our
enterprises receives a dollar's worth of value."

VeraViews CEO Mark Firth believes the UAE is the ideal home for the company's global
headquarters.

He added, "The media industry in the UAE is dynamic and diverse, with a mature blend of
platforms, publishers, agencies and networks. VeraViews believes our distributed ledger
technology can add significant value to the sector by helping to eliminate fraud and prevent
the dissemination of misinformation or other forms of harmful content.

"We are hugely appreciative of the support the NextGen FDI programme has offered and
welcome the opportunity to work with both the UAE government and industry stakeholders to
build an advertising ecosystem that benefits everyone."

The global digital advertising market is currently worth over $550 billion, with the Middle East
one of its fastest-growing regions. The region's advertising market is projected to reach $6.9
billion by the end of 2024, with online advertising accounting for well over half that total.

The UAE remains the second-largest advertising market, with $1.8 billion spent in 2023.

WAM

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