Blockchain technology to be incorporated into Dubai’s daily economy.
Dubai, one of the world’s leading trade hubs, is aiming to incorporate blockchain technology to ensure seamless record-keeping, and implementing the latest innovation in the city’s advanced cargo and transportation industry.
In Blockchain Revolution (2016), authors Don and Alex Tapscott explain: “The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.”
Blockchain is steadily gaining attention worldwide, and even the likes of large corporations such as IBM and Microsoft are looking at ways and means to incorporate its use into day-to-day operations. In a bid to remain one of the top cities with regard to ease of doing business, and becoming a city of the future, Dubai is focused at becoming the first Blockchain-powered government in the world by 2020.
Smart Dubai, a government entity tasked with facilitating innovation, has already begun educating private and public sectors about blockchain by conducting series of dedicated workshops, helping business and governments identify the best ways of incorporating the technology. Citywide implementation is set for later this year, as plans are in place for Smart Dubai to launch a shared Blockchain-as-a-Service platform.
Her Excellency Dr Aisha Bin Bishr, Director General of Smart Dubai, said: “It is disruptive for existing systems, but will help us prepare for the future.
“We have a very clear objective to make Dubai the capital of the blockchain industry. By 2020 we’ll have 100% of applicable government services and transactions happen on blockchain.”