Blockchain technology develops not only within the banking and financial institutions. It can be anticipated that the technology of distributed registries will also be adopted by Governments. The United Arab Emirates, especially Dubai, is actively promoting this initiative.
According to reports, the financial capital of the UAE, Dubai, is about to use the blockade technology for the entire state document circulation. Implementation is expected to be completed by 2020.
The initiative of the government, shown by Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince and Chairman of the Executive Council of Dubai, announced the Dubai Media Office.
A bit earlier this year, the Emirates hosted the Blockchain Technology Conference. It extensively discussed the use of Blockchain’s technology in finance and beyond.
Many companies and government agencies are part of the Global Blockchain Council. It includes Smart Dubai, Dubai Smart Government, Dubai Multi Commodities Center (DMCC), BitOasis, Cisco, IBM, Kraken, Microsoft and SAP. Even DU, the leading telecommunication provider in the region, has devoted itself to creating a blockade system for document management in the healthcare sector, which makes doctors easier to access patient records.
Dubai is an example of how to support the development of the blockade for other governments
The BitOasis Bitcoin service located in the UAE is currently working with the DMCC to gain experience in contract management such as flexidesk and the registration process. Collaboration with Kraken will help unite Islamic financial operations based on the blockade technology.
Even at the recently completed Misys Connect Forum meeting, the main issues were related to the use of blockade technology for banking and financial services. There are assumptions about the inclusion of distributed registry technology in the process of simplifying the trade procedures in ports.
With so many compilations of projects based on distributed registry technology, the UAE may soon become an exemplary state for using blockade technology in finance, management, commerce, healthcare and other industries.