Uploaded by Khalifa Al Mahrouqi

Blockchain & Crypto in UAE: Benefits & Challenges

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FINAL REPORT
Auto-Peer: Doubled Transitional
The repeated transitionals in this paragraph include the following: However
1. Despite these advantages, there are challenges that need to be addressed.
2. First, critics highlight the risks of hacking activities that compromise blockchain
security and erode public trust in digital systems.
3. However, advancements in cybersecurity measures and real-time detection
frameworks address these concerns effectively.
4. Another common criticism is that cryptocurrencies may destabilize traditional
banking systems by reducing central bank control over monetary policy.
5. However, integration with blockchain systems has shown the potential to enhance
banking stability and reduce volatility.
6. Third, there are concerns that cryptocurrencies facilitate illicit activities such as
money laundering that can potentially damaging the UAE’s global reputation.
7. However, the UAE’s proactive regulatory measures, including transparency
frameworks and investor protection guidelines, mitigate these risks.
8. These findings demonstrate that the benefits of blockchain and cryptocurrency
outweigh their drawbacks.
Student Response
This issue doesn't need any changes because I think the identified issues are good as
they are.
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Auto-Peer: Lonely Transitionals
1. However, the UAE has addressed this criticism by implementing strict measures to
mitigate these concerns.
Student Response
This issue doesn't need any changes because I think the identified issues are good as
they are.
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Auto-Peer: THAT vs comma-WHICH
1. Kumar and Anusha (2023), explain that blockchain acts as a distributed ledger which
keeps track of every transaction made on the system.
2. The Financial Action Task Force (FATF) has raised concerns about the misuse of
cryptocurrencies in financial crimes, such as money laundering which could damage a
nation’s international reputation ( King, 2024).
Student Response
I have fixed the issue for the first sentence as well as the second by adding which and
removing unnecessary that and adding commas.
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Auto-Peer: Fake Friends Issues
The Paragraph
Some critics, however, claim that there are risks of hacking activities that compromise
blockchain security. As reported by Grobys (2021), in the period between 2013 and
2017, approximately 1.1 million Bitcoins were stolen, equivalent to $8.9 billion in losses
(p..| 1268). These trends highlight the pervasive vulnerabilities in blockchain systems to
different types of malware attacks. For example, Sybil and DDoS are notorious for
compromising the data integrity of block-chain based systems (Halgamuge, 2022).
Additionally, Grobys (2021) explains that hacking incidents often result in delayed
market volatility, further amplifying uncertainty and eroding confidence in blockchain’s
reliability (p..| 1274). These security gaps pose significant risks, particularly in
government operations requiring high levels of transparency and trust.
Issue 1:
different : These trends highlight the pervasive vulnerabilities in blockchain systems to
different types of malware attacks.
Different: Student-writers very commonly misuse this word. In a sentence such as
‘There are many different uses for this system,’ we do not need to include the word
‘different.’ That is, the sentence reads better as ‘There are many uses for this system.’
Similarly, student-writers often use ‘different’ when they mean ‘various’ or ‘many.’ For
example, rather than write ‘Scholars have provided different interpretations of this
law,’ we can consider ‘Scholars have provided various interpretations of this law,’ or
‘Scholars have provided many interpretations of this law.’
Student Response
I have changed the word different to the word various for the final paper
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Auto-Peer: Counter Argument
Possible counter arguments found:
1. Opponents of crypto adoption argue that cryptocurrencies pose a destabilizing
threat to traditional banking systems.
2. On the other hand, some Critics argue that the adoption of cryptocurrencies may
undermine the UAE’s efforts to strengthen its geopolitical soft power.
Student Response
This issue doesn't need any changes because I think the identified issues are good as
they are.
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Pronoun Cohesion
1. With that being said, advancements in blockchain integration have shown the
potential of this technology to enhance banking stability instead of harm it.
2. This effect is mediated through functions such as the immutable records and
decentralized ledgers which can strengthen financial systems rather than undermining
stability.
Student Response
I have fixed these issues on my final paper
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Auto-Peer: Missing References
Example
Paragraph 1
In this paper, I argued that implementing cryptocurrency and blockchain technologies
provides substantial benefits for the UAE’s stability and progress. First, cryptocurrency
and blockchain technologies can significantly reduce corruption in government services
by enhancing transparency and accountability through immutable and traceable
records. Second, cryptocurrency and blockchain can bolster the UAE’s fintech sector by
fostering innovation. Third, these technologies bolster the country’s geopolitical soft
power by enabling decentralized financial tools that enhance international influence
and competitiveness in the global financial system.
Paragraph 2
Despite these advantages, there are challenges that need to be addressed. First, critics
highlight the risks of hacking activities that compromise blockchain security and erode
public trust in digital systems. However, advancements in cybersecurity measures and
real-time detection frameworks address these concerns effectively. Another common
criticism is that cryptocurrencies may destabilize traditional banking systems by
reducing central bank control over monetary policy. However, integration with
blockchain systems has shown the potential to enhance banking stability and reduce
volatility. Third, there are concerns that cryptocurrencies facilitate illicit activities such
as money laundering that can potentially damaging the UAE’s global reputation.
However, the UAE’s proactive regulatory measures, including transparency frameworks
and investor protection guidelines, mitigate these risks. These findings demonstrate
that the benefits of blockchain and cryptocurrency outweigh their drawbacks.
Example
Paragraph 1
Despite these advantages, there are challenges that need to be addressed. First, critics
highlight the risks of hacking activities that compromise blockchain security and erode
public trust in digital systems. However, advancements in cybersecurity measures and
real-time detection frameworks address these concerns effectively. Another common
criticism is that cryptocurrencies may destabilize traditional banking systems by
reducing central bank control over monetary policy. However, integration with
blockchain systems has shown the potential to enhance banking stability and reduce
volatility. Third, there are concerns that cryptocurrencies facilitate illicit activities such
as money laundering that can potentially damaging the UAE’s global reputation.
However, the UAE’s proactive regulatory measures, including transparency frameworks
and investor protection guidelines, mitigate these risks. These findings demonstrate
that the benefits of blockchain and cryptocurrency outweigh their drawbacks.
Paragraph 2
Blockchain and cryptocurrency are reshaping the UAE’s digital and economic landscape
and are transforming the country into a technological hub in the MENA region. The
capabilities of these technologies to improve transparency, stimulate fintech
innovation, and bolster the nation’s geopolitical influence are in alignment with the
UAE’s vision for a modernized economy. However, there are challenges that pertain to
security vulnerabilities, the destabilization of traditional systems, and potential misuse.
Addressing these issues requires strengthening regulatory frameworks, investing in
advanced cybersecurity measures, and fostering collaboration between public and
private sectors to ensure effective implementation. By taking these steps, the UAE can
harness the full potential of blockchain and cryptocurrency and secure its position as a
global leader in digital transformation and innovation.
Student Response
This issue doesn't need any changes because I think the identified issues are good as
they are.
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