100% Blockchain for Dubai Government by 2020
In a significant endorsement of blockchain technology, the underlying innovation of bitcoin, the Dubai government will see of its documents on a blockchain. The government of Dubai will see all of its documents on a blockchain by the year 2020. The announcement was made via the Dubai Media Office’s official social media account, citing Hamdan bin Mohammed, the hereditary Prince to the crown of Dubai. Furthermore, the Prince revealed that Dubai will also be executing all its transactions on a blockchain by 2020, as a part of a new program called the “Dubai Blockchain Strategy.” Under the....
Bitcoin wallet and block explorer resource Blockchain has been revealed as a Government of Dubai partner in the latter’s goal toward switching all government documents and transactions over a blockchain by the year 2020.
Speaking at the World Economic Forum this week in Davos, Switzerland, Blockchain CEO Peter Smith also revealed plans for expanding the company to gain a presence in the Middle East.
As reported by regional English publication The National, Smith stated:
I am very optimistic about the Middle East and we plan to invest big there. I’m really excited about it.....
Dubai has announced the adoption of blockchain technology into governance, expected to be completed by the end of 2020.
Blockchain technology is growing beyond mainstream banking and financial sectors. As forecasted, the distributed ledger technology is now being adopted by the governments as well. Leading the initiative is the Government of United Arab Emirates, particularly Dubai.
According to reports, the financial capital of UAE, Dubai will soon be using blockchain technology for all government documents. The implementation is expected to be completed by the year 2020.
The Crown Prince of Dubai announced a strategic plan today that would see all government documents secured on a blockchain by 2020.
Revealed at an event hosted by the Dubai Future Foundation and the Smart Dubai Office, the final goal of the government-led initiative is to open the blockchain platform to other cities around the world.
In remarks, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum explained the effort is part of a larger bid by the emirate, one of seven in the larger UAE, to set the "standard" for smart cities.
"The emirate is building on that....
The Ethereum development startup ConsenSys has released a new white paper for its projects in Dubai at the city’s World Government Summit.
The paper, titled “Blockchain, Hyperconnectivity and the City of the Future,” details new plans for innovation focusing on smart cities and the Internet of Things.
"We are thrilled to see Dubai emerge as a home for fast forward, broad focus Blockchain innovation and are looking forward to ongoing opportunities to work with Dubai government and corporates toward accomplishing many ambitious goals,” ConsenSys founder Joseph....
Dubai, a global hub for trade, wants to incorporate the blockchain into daily economic life. The country believes blockchain technology could put them on the cutting edge of simplified record-keeping, as well as the transportation of goods worldwide.
Blockchain incorporation into the society there, which joins an across the board effort to place Dubai on the cutting edge of how cities are run, will exist alongside Dubai’s advanced transportation infrastructure and near-zero taxes.
The world’s largest corporations, such as IBM, Microsoft and dozens of big banks, are exploring....
To be clear, virtual currency is not necessarily synonymous with anonymity. A convertible virtual currency with appropriate anti-money laundering and know-your-customer controls, as required by U.S. law, can safeguard its system from exploitation by criminals and terrorists in the same way any other money services business could. As virtual currency systems develop, it is imperative to law enforcement interests that those systems comply with applicable anti-money laundering and know-your-customer controls.