Dubai wants to become the blockchain development capital of the world.
In 2016, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, outlined the city’s ambitious plan to leverage Blockchain technology. The Dubai government had then announced that its Blockchain strategy leaned on the three pillars of government efficiency, industry creation, and international leadership. Today, Smart Dubai has announced that it has now implemented 24 blockchain use cases across the eight industry sectors of finance, education, real estate, tourism, commerce, health, transportation and security.
“We, at the Smart Dubai Department, have worked with our government and private sector partners on developing a series of blockchain use cases across multiple sectors, in line with our mission to embrace advanced technologies and make Dubai the happiest and smartest city in the world…”
– said Dr Aisha Bint Butti Bin Bishr, director general, Smart Dubai Department.
It is part of the Emirate’s vision to pioneer and become the blockchain development capital of the world. Their current road map and follows the introduction of Dubai blockchain platform in 2018 and the Dubai blockchain policy in 2019.
24 Use Cases Across 8 industries
Leveraging on Blockchain, Dubai will to implement 24 use cases across eight industry verticals. Its Dubai Pay service used Blockchain to drastically reduce reconciliation and settlement time across government entities from 45 days to instantaneously. This is just one of their initiatives to ignite efficiencies within the government.
The Department of Economic Development in Dubai has launched Unified Business Registry Platform to help government departments and free zones issue and validate licenses. The startup Educhain is working with Zayed University and other educational institutions to digitise certificates.
Government efficiencies also come from sharing resources. Smart Dubai offers Blockchain as a service platform through its partnership with IBM, to allow government entities to develop use cases without investing in their own infrastructure. They become consumers of the Blockchain service as they focus on innovation.
Meanwhile, the Smart Supplier web application was launched as part of Smart Dubai’s plans to achieve the objectives of the Dubai Paperless Strategy and transform all applicable internal and external government transactions into paperless operations by December 2021.
Dubai has been taking careful execution of annual Blockchain events, challenges, and support extended to startups. Their efforts has now pushed them far ahead of the curve with a 24 per cent growth of the Blockchain market in 2018, higher than the global average of 19 per cent.