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IBM and Smart Dubai Introduce UAE Blockchain Platform

IBM and Smart Dubai Introduce UAE Blockchain Platform

IBM and Smart Dubai have introduced a government-endorsed UAE blockchain platform with the vision to make the emirate a fully digitized government by the year 2021.

31 October 2018 | AtoZMarkets – Smart Dubai and IBM Corp. have announced on Tuesday the launch of the Dubai Blockchain Platform, the first government-endorsed blockchain platform in the United Arab Emirates (UAE).

IBM And Smart Dubai Offer Government-Endorsed UAE Blockchain Platform

The new blockchain Platform will be built in the UAE and will deliver its services through an IBM Cloud environment.

Once launched, it will provide businesses in the UAE the opportunity to implement and expand their blockchain development projects as well as encourage the emergence of new ones. The director general of Smart Dubai, Dr Aisha Bishr was quoted as saying:

“Dubai has been a pioneer in blockchain technology since its inception, while other major cities around the world were reluctant to embrace it for city-wide implementation.”

Dubai has been in the forefront encouraging the use of blockchain, with the goal to make the emirate a paperless government by 2021. As part of the Dubai Blockchain Strategy, for which IBM is the official strategic partner, Dubai has seen the launch several blockchain applications in a number of government entities, including roads and transport, energy, healthcare, and education. Aisha further added:

“The Dubai Blockchain Platform we are launching today with IBM, who brings a wealth of insight and expertise in the advanced tech industries drives us forward in our mission and allows us to power all blockchain applications in the city from one united portal.”

Dubai Blockchain Platform to Transform and Digitize Citizen Services

The new Blockchain system will provide help in integrating digitized services and experiences run on IBM Blockchain into the everyday lives of the citizens.

Moreover, organizations will also benefit from storing their data in-country and conducting transactions locally, and in turn, reduce operational costs. While commenting on the cutting-edge technology, the chief executive of the Smart Dubai Government Establishment, Wesam Lootah said: 

“We at Smart Dubai have successfully embedded the technology in numerous services, the latest of which was the advanced Dubai Pay Blockchain Settlement and Reconciliation System, which eliminates friction from financial processes between government entities through automation and minimal human intervention.”

Blockchain Platform Will Be Powered by LinuxOne

The Dubai Pay Blockchain Settlement and Reconciliation System, launched officially on September 23, will be among the first projects to migrate over to the Dubai Blockchain Platform.

Meanwhile, the platform will conform to the standards of the Information Security Regulation (ISR), issued by the Dubai government. In addition, the platform will be powered by LinuxOne, IBM’s mainframe technology, which is capable of running more than 6.2 billion web transactions per day.

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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.

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