Dubai Launches Blockchain Strategy

The strategy will expedite people’s lives and business accessible to all government entities, banks, and insurance firms.

blockchain

The Dubai Blockchain Strategy for all government documents has been launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Board of Trustee of Dubai Future Foundation. It is a joint project between the Dubai Future Foundation and Dubai Smart City Office.

The strategy will facilitate people’s lives and business, where users only have to enter their personal and business data, accessible to all government entities, banks, and insurance firms. It has three objectives, efficiency, create new specialised sectors, and achieve global leadership.

“We have directed the Dubai Future Foundation to oversee the strategy and to benefit from the expertise it accumulated through the initiatives of the Global Blockchain Council. We have also directed Dubai Smart City Office to be the executive arm of this new strategy,” says Sheikh Hamdan.

This move is part of Dubai government’s policy to become paperless by 2020, making Dubai the first government to introduce the technology in the world.

A blockchain is a distributed database that maintains a continuously-growing list of records called blocks secured from tampering and revision. Each block contains a timestamp and a link to a previous block.

Dubai Future Foundation is an independent research organisation playing a pivotal role in shaping the future of Dubai in light of the Dubai Future Agenda.