In a significant endorsement of blockchain technology, the underlying innovation of bitcoin, the Dubai government will see of its documents…
In a significant endorsement of blockchain technology, the underlying innovation of bitcoin, the Dubai government will see of its documents on a blockchain.
The government of Dubai will see all of its documents on a blockchain by the year 2020. The announcement was made via the Dubai Media Office’s official social media account, citing Hamdan bin Mohammed, the hereditary Prince to the crown of Dubai.
Furthermore, the Prince revealed that Dubai will also be executing all its transactions on a blockchain by 2020, as a part of a new program called the “Dubai Blockchain Strategy.”
Under the new initiative to go all-in on blockchain technology, Hamdan bin Mohammed also revealed that people in Dubai “will only need to enter personal data or business credentials once” onto the blockchain, before it becomes an immutable record.
Official details of the new government directive, determined by Dubai’s Sheik Mohammed, are currently scarce.
The crown prince also added that the Dubai Future Foundation will be tasked with overseeing the strategy to its implementation, while the Smart Dubai Office executes the directive.
The Dubai government’s interest to position itself as a blockchain hub and embrace the technology was first revealed in February 2016, when its Museum of the Future Foundation established the ‘Global Blockchain Council.’
The following month of March saw the council deliberate and draw plans for initiatives to research, explore and develop distributed ledger technology.
Still, few would have expected the Dubai government to commence a sweeping directive to implement blockchain technology. Even fewer would have foreseen any scenario wherein a government began a fundamental shift to move all its official records to the technology powering bitcoin.
CCN is following this story and will update the article as we learn more.
Featured image from Shutterstock.
Last modified (UTC): January 4, 2017 1:27 PM