Dec 11 / 2019
Latest News / Blockchain news/ Finance

50 % of UAE public services to be transferred onto blockchain by 2021

Strategy reflects the benefits of blockchain technology

In April 2019, the government of the United Arab Emirates (UAE) launched a wide-ranging blockchain strategy for the country with implementation planned by 2021. The Emirates Blockchain Strategy 2021 utilises blockchain technology to digitise public services, with the intention of transferring more than 50% of all government transactions into a blockchain platform by the year 2021.

By adopting this technology the UAE government isn’t just expecting to save time, money and effort on having people process the documents and printing them out routinely, but will also allow people to process their transactions at a time and place that best suits their hectic lifestyles.

The UAE will use blockchain for digital transactions and citizen identification amongst other applications. Each individual will be given a unique identification number which automatically stores and updates immutable information about them on a secure chain. Hacking the data on blockchain is close to impossible, ensuring the digital security of national documents and transactions.  By adding many day-to-day administrative processes on blockchain, the long term benefits will be to reduce operational cost and to accelerate the decision-making process.

“Blockchain is one of the most promising technologies to appear on the world stage in recent years and Dubai has already made remarkable accomplishments in the sector, launching a blockchain strategy and hosting international blockchain conferences that bring together influential international experts,” said Dr. Aisha Bint Butti Bin Bishr, director general of Smart Dubai.

Dubai’s objective is to position itself at the top of the game when it comes to technology. The country has formed the Global Blockchain Council and has launched blockchain-based projects in collaboration with tech companies around the world in its effort to become the leading nation in blockchain application and innovation.

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