The Dubai Blockchain Strategy, launched by His Highness Sheikh Hamdan, as a result of a collaboration between the Smart Dubai Office and the Dubai Future Foundation to continually explore and evaluate the latest technology innovations that demonstrate an exceptional opportunity to deliver a much more seamless, safe, efficient, and impactful city experiences.

As Per the recent reports His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the Emirates Blockchain Strategy 2021 in April 2018. Under this initiative, it is expected that up to 50 per cent of the government transactions would be adopting the Blockchain platform over the period of the next three years. As per the reports it is said the utilization of the Blockchain would save up to Dh11 billion in transactions and documents processed over a frequent period. Applications of the Blockchain platform is expected to save up to 398 million printed documents and 77 million work hours annually. The Emirate has a very clear vision and the roadmap for the way forward and by following through this vision, it intends a global leader in this field.

The Dubai Blockchain strategy is believed to pilot a colossal opportunity of economic growth of all sectors in the city and to fortify Dubai’s reputation as a global technology leader which is in line with Smart Dubai’s mandate to become the global leader in the smart economy, fuelling major scope for entrepreneurship and global competitiveness.

Dubai has had a long tradition of leading the digital innovation in the region and now, for the first time, Dubai is currently looking to pioneer in the application of this new technology for cities and sharing this expertise with the world. When successful, Dubai would become the first blockchain powered government and this will helping driving the future economy. The UAE’s Blockchain strategy mainly focus on four key themes which would include happiness of citizens and residents, boosting government efficiency, advanced legislation and international leadership.

Dubai’s adoption of blockchain technology at a city wide scale is a testament of the government’s commitment to drive innovation and to provide an enabling ecosystem for businesses and start-ups to thrive in this space. Blockchain technology has become a new and a powerful tool that is already starting to shape up the future of the Internet with a more simpler, safer and much more secure transactions. The Dubai Blockchain Strategy will help to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and create the future of Dubai while making Dubai the happiest city on the planet.

It has been that the Government of Dubai wants to capitalise on advanced technology to transform close to 50 per cent of the government transactions into the blockchain platform by 2021 and in order to cement the UAE’s position to be among the most advanced countries that are well prepared to deal with future changes.