Dubai is looking to become the first city in the world that will have its economy heavily built on blockchain technology.
They are looking to use blockchain technology in order to carry out their official business, to simplify record-keeping when it comes to moving their goods around the world.
It's reported that Dubai's government wants to conduct the majority of their business using blockchain technology because they feel that it will boost their overall efficiency. It will also help to promote enterprise in the area, they believe, making it easier to do business in that region. They also are planning for the private sector to work within the system as well.
They plan to have the Dubai government be the first blockchain-powered government by 2020.
They believe that this is what will best help them to prepare for the future. Although, it has yet to be unveiled widely within the region for commercial use. And they aren't the only ones who have been looking to get acquainted with the technology either. Russia has also reportedly been considering blockchain for their government services, as well as others.
Just a few weeks ago, an effort was launched in Dubai that was seeking to start to implement blockchain. And over the next few months there will be a number of workshops that are going to be held that will help identify and prioritize the services that might see the most improvement from having the technology incorporated into that area.
When those workshops are over, both public and private sectors are going to work together in order to see the project fully through to its completion.
Pics:
Pixabay
Sources:
https://www.wsj.com/articles/dubai-aims-to-be-a-city-built-on-blockchain-1493086080
https://cointelegraph.com/news/russian-government-considers-blockchain-for-improving-national-payment-system
http://www.cnbc.com/2017/01/27/china-turns-to-blockchain-to-make-markets-clearer-and-cleaner.html
https://seekingalpha.com/article/4064985-dubai-globalization-blockchain-technology-fintech
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