The UAE has launched the Emirates Blockchain Strategy and Dubai Blockchain Strategy. The UAE Government has now adopted blockchain technology in conducting half of all transactions.
. The Emirates Blockchain Strategy aims to capitalize on blockchain technology to transform 50 per percent of government transactions into the blockchain platform. The Dubai Blockchain Strategy help Dubai to be the first city fully powered by Blockchain by 2020 and make Dubai the happiest city on earth.
The strategy will be using three strategic pillars: government efficiency, industry creation, and international leadership.
Roads and Transport Authority (RTA) is working on a project to create a vehicle lifecycle management system using blockchain technology. The project aims to provide car manufacturers, dealers, regulators, insurance companies, buyers, sellers, and garages with a transparent record of the vehicle’s history from the manufacturer to the scrap yard.
This blockchain-based system help boost transparency and trust in vehicle transactions, prevent disputes and lower the cost of services. It tracks ownership, sale, and accident history to create smart and more efficient systems for supply chains. The system is part of Dubai10X initiatives. Blockchain creates an environment that makes opportunity possible.
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