Dubai Leads Region and Establishes Governmental Blockchain
The United Arab Emirates aims at digitizing its governmental services by 2021, and their first step is to launch the “Smart Dubai” project. The plan is to increase the happiness and satisfaction of residents by using technology to transform everyday governmental services.
Smart Dubai Project and IBM's Rol
The government teamed up with IBM to create the first Middle Eastern blockchain platform that is supported by a governmental body. IBM will increase the speed of transaction processes by utilizing the IBM Cloud. The system’s speed will make people’s lives better as it will give them the chance to pay bills or apply for licenses easily and efficiently. The fact that the processes will take place on the Cloud should help cut down on costs by performing the transactions locally. It will also give the institutions involved the chance to maintain their data within the county.
Ms. Aisha Bin Bishr, an lead official at Smart Dubai, declared that Dubai was always ready to lead the way and utilize blockchain tech on a city-wide scale; whereas the rest of the world was not as enthusiastic. She stated that the blockchain strategy adopted by Dubai will create the first ever fully-automated government in around 3 years.
Government Agencies Use Blockchain Tech
Mr. Amr Refaat, GM for the Middle Eastern & Pakistani regions at IBM, stated that Dubai started using various new blockchain projects in a variety of governmental agencies, in capacities dealing with energy, education, transportation, etc. He declared that the new service will allow these institutions to move their advancements in the field of blockchain to real full-blown productions.
The platform will include multiple projects. The first of which will permit governmental entities to work with other authorities, such as banks, in real-time rather than having to wait for hours or days for the confirmation of payments. The financial staff in the past used to examine all the payments at portals and used to work on settlements manually.
Mr. Refaat also revealed that IBM will use its own Blockchain to establish a unified registry. It will be created in collaboration with the Economic Development Department. The concept behind the registry is upgrading the processes of issuing licenses and distributing data related to commerce to various individuals or entities into the digital format. This registry will allow entrepreneurs and investors to conduct their various deals in an environment that is trustworthy, secure, digital, and quick.
Mr. Refaat also declared their partnership with Dubai Airport Freezone Authority to computerize the processes of issuing and renewing free commercial zone licenses. As they start utilizing IBM's Blockchain, they will save time by managing and verifying all transactions and documents swiftly through the system.
As per the website for the Smart Dubai project, Dubai aspires to be the international standard for blockchain implementation on a city-wide scale. Dubai shall save over five billion AED every year as it optimizes its document processes by using blockchain tech.