Dubai Aims to Become World's Main Blockchain Center

January 18, 2018

Dubai Aims to Become World's Main Blockchain Center

Dubai is one of the largest trading and financial centers not only of the UAE, but the entire Middle East. In order to make Dubai one of the most advanced and smart cities in the world, the government created Smart Dubai agency. This agency is working on the implementation of services based on blockchain.

The agency has entered a partnership with IBM and Consensys which will serve as advisors of Smart Dubai. The total amount of blockchain-initiatives that the agency wants to implement is 20.

Head of Smart Dubai Aisha Bint Buti bin Bisher told:

"The applications are in various fields, some of them are in RTA, road and transport, some of them are in energy, health and education. These 20-use cases are under pilot, and we are looking forward to see the results so we can scale it."

Earlier it was reported that the launch date of the initiative was set for 2020, however Bisher is certain that it could be launched this year. Actually, blockchain technology is already being used for transaction in land registry while other government agencies are running pilots programs. 

Blockchain may help to improve the quality of Dubai public services reducing the amount of working hours per year by 25 million. Bisher believes that the agency is "making Dubai the blockchain capital of the world, and we have already begun."

Ramez Dandan who also participated in this conference gave his comments about how blockchain technology is helping businesses.

He said:

"Investment in blockchain across the GCC [Gulf Cooperation Council] and beyond is ramping up at an impressive rate as organizations recognize it for the disruptive technology that it is."

Large amount of investments is caused by the fact that the UAE government does not want to continue to depend on oil since the price of it is declining.

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