Category Archives: Dubai 10X initiative

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Dubai Gets First Government-Endorsed Blockchain Platform

IBM has launched yet another blockchain solution to its rapidly expanding range of applications, this time with Emirates company Smart Dubai.

The Dubai government has got behind Smart Dubai and IBM’s “Dubai Blockchain Platform”, endorsing it as the first of its kind, not only in the UAE but in the whole of the Middle East.

The newly-launched blockchain platform will enable lower operational costs for organizations as well as maintaining data in-country and conduction translations locally. The IBM mainframe tech LinuxOne is currently capable of 6.2 billion web transactions a day.

The locally-built platform opens the doors to the UAE for advancing its blockchain footprint in the region and globally, as well as drastically improving and digitalizing many government services. Dr Aisha Bint Butti Bin Bishr, Director General of the Smart Dubai Office (SDO), spoke of Dubai as an early player and somewhat of a trendsetter in adopting some of the fundamentals of DLT early on, commenting:

“Dubai has been a pioneer in blockchain technology since its inception, while other major cities around the world were reluctant to embrace it for city-wide implementation,” adding that it was largely due to IMBs “wealth of insight and expertise in the advanced tech industries” that such projects were possible, promising that the Emirate would have “ the world’s first fully digitized government by 2021.”

Dr Aisha went on to predict that Dubai could be the blockchain center of the future through such projects as Dubai Blockchain Strategy. HE Wesam Lootah, CEO of the Smart Dubai Government Establishment (SDG), commented, “Blockchain provides an added layer of trust and transparency among government organizations and businesses and helps make collaboration more efficient.”

The Dubai Pay Blockchain Settlement and Reconciliation System launched last month will be now be positioned on the new platform, enabling rapid real-time payment services with other government entities, banks and financial institutions removing the original 45-day delays.

Dubai is a forward-thinking player in the blockchain environment; its enthusiasm for new technology is not simply limited to banking. This year, the Dubai Department of Tourism and Marketing (DTCM) launched Tourism 2.0, a blockchain-enabled marketplace connecting buyers to hotels and tour operators.

Dubai also recently launched Artbank, the world’s first digital bank for art which uses cryptocurrency for trading in artworks. The program has been initiated as part of the Dubai 10X initiative which seeks to place the Gulf state ten years ahead of the world in all sectors.

The 2nd edition of the UNLOCK Conference will be held in Dubai, United Arab Emirates (UAE) on 15-16 January 2019 at the Ritz Carlton Hotel. This will be a global meeting of the most powerful players in the crypto and blockchain fields, and BitcoinNews.com is proud to announce a media partnership with the event.

 

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