Dubai Carrys on Embracing Blockchain Technology
The Administration of Dubai isgradually accepting the introduction of blockchain technology intomany of its important sectors. The most recent being theimplementation of Blockchain technology in a global law courtestablished in country. The international court is preparing tointroduce what it is known as “the Blockchain Court,” a plan thatwill restructure the legal processes to use the blockchaintechnology.
The Dubai International FinancialCentre (DIFC) cooperates With Smart Dubai initiative
The global court has stated that itwill collaborate with the Smart Dubai an Initiative supported by thegovernment to build a team that will design the blockchain technologyto incorporate into the court system. This collaboration anticipatesto interlink various courts of law and enable the courts todistribute data in the most safe and effective ways. By expendingthis technology, courts can distribute, validate and keep documentsin a more effective way and furthermore in the exact time.
“An innovation of this capacity needsa high strict set of guidelines and an authorized organization toendorse them. This is where the cooperation with DIFC factors in,enabling Smart Dubai to labor as one and produce the world’sblockchain court, aiding to accurately unravel the influence ofblockchain.”
Presently, Dubai has a block chainpolicy for the year 2020. It aims to operate all its governmenttrades purely on blockchain technology. To effectively accomplishthis objective, various administration departments have begun theirown blockchain developments.
The previous year, the ImmigrationDepartment linked up with a European company known as ObjectTech tocreate digitalized passports that can possibly eradicate thelabor-intensive check-ins at the International Airport of Dubai. TheCEO of ObjectTech’s, stated that the use of biometricauthentication combined with blockchain systems produces digitalizedpassports, which provide a faster and safe means of verification.Additionally, guests are in control of their data instead of otherindividuals accessing their passport data.
Also in the recent past, the EconomicDevelopment Department declared that it had plans to incorporateblock-chain systems to aid businesses start up in the country. TheDED Is joining hands with other sectors of the administration andorganizations like the, Smart Dubai Center, Dubai Silicon Oasis, andInternational Business Machines to make a department known as ‘DubaiBlockchain Business Registry.’
This Registry purposes to make itsimple for both local and international businesses to start up easyin Dubai. Businesses will easily access registry information andunderstand the documents needed. This blockchain-based registry willbe first implemented on the Dubai Silicon Oasis, Dubai’s technologyfree-zone.
Evidently, thecountry of Dubai is accepting the change brought by the blockchainindustry. It has also vastly invested in Blockchain Technology sincethe launch of Dubai Blockchain Policy in 2016. The Strategy entailspolicies to make all relevant government operations incorporated withblockchain technology.
By the year 2020 the country will runwell-organized, more transparent and quicker. Dubai is becoming aninternational leader in the Blockchain technology as the core ofblockchain technology. All the other governments are trying implementBlockchain, as Dubai continues to take big steps.