Bahrain: Blockchain Needed For Economic Growth

September 10, 2018

During his speech at local conferences SmartSec Cyber Security and Blockchain Conference 2018 the Bahrain’s minister of electricity and water affairs Abdulhussain Mirza stated, blockchain is essential technology for the country’s future economic growth.

“Technologies such as blockchain take us a huge step forward in finding a secure way to facilitate transactions. Blockchain’s ability to protect user’s data is a true mark of progress, especially due to the fact that it can be applied in different companies from different industries including cyber security.”

Mirza also stressed the necessity of higher security level with blockchain:

“Cyber-security is an essential part of our lives because most of our daily lives involve the use of technology in one way or another.”

Unlike the neighboring Dubai, Bahrain has long been refrained from the crypto affairs. It was only this June when it became known about the state showing interest in the industry and the local fincancial regulator granted a test license to the Palmex crypto exchange.

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