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Dubai to Establish First Blockchain-Powered Government

Kristina Frunze | Sep. 24, 2018
Dubai to Establish First Blockchain-Powered Government

Dubai plans to establish the first Blockchain-powered government in the world by 2020. Currently, Dubai’s authorities are working on 20 use cases for Blockchain technology to add to its existing operations

24 September, 2018 – Smart Dubai is a government-led initiative that aims to make Dubai “smartest and happiest” city in the world. This week, Dubai’s official’s payment portal system became Blockchain-fueled.

Dubai 2020 Blockchain Adoption Plans

The online payment portal DubaiPay will now reportedly use Blockchain technology for real-time settlement of transactions. This comes as yet another step towards Dubai’s aim of becoming the world’ first Blockchain-driven government by 2020.

As of the moment, Dubai’s authorities are working on 20 use cases for Blockchain technology to add to its existing operations. The officials established strategies partnerships with IBM and Consensys as advisors to aid them and Smart Dubai to reach their goals.

Smart Dubai along with its government Smart Dubai Government Establishment (SDG) plans to drive the city’s success and global competitive advantage through smart technology. SDG included the shift to Blockchain in their agenda.

The Director of the smart services enablement department at SDG, Mira Sultan Obaid Abdul Rahman, stated that the organization plans to increase government efficiency by shifting all transactions to Blockchain. The Dubai Department of Finance (DoF) is the one responsible for making it possible for transactions on DubaiPay take place. It also addresses all the issues and disputes. It is understood that DubaiPay portal manages transactions from 27 government entities and 14 non-government companies.

Dubai to Use Blockchain for court system

The usage of Blockchain technology developed by Avanaza Solutions allows DubaiPay to provide real-time monitoring of transactions. However, the actual transactions could still take up to 45 days to reconcile by the DoF. Mira Sultan Obaid Abdul Rahman added:

“There is no real-time monitoring of the transaction in the old system and with blockchain, the whole process can be monitored in real time.”

Two of Dubai’s government departments utilized the Blockchain-fueled reconciliations system. They reportedly processed five million transactions. Other departments are also expected to take part.

Earlier this July, AtoZ Markets reported that the Dubai International Financial Centre Courts (DIFC) have created a task force that will aim to investigate the use of Blockchain to advance the country’s court system. The idea comes as a part of the Smart Dubai initiative.

The DIFC is a specialized court system that manages commercial disputes. It has announced that it plans to form what it called the “first Blockchain court.” The project emerges in line with the Smart Dubai Initiative. The latter connects private and governmental sector participants in a bid to use technology to "empower, deliver and promote an efficient, seamless, safe and impactful city experience for residents and visitors."

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.