Dubai’s government is turning to blockchain technology to pave the way for foreign investments and businesses to come into the city-state Emirate. Continue reading Dubai Government Launches Blockchain Business Registry
Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the ‘UAE Blockchain Strategy 2021’ with the goal of becoming a world leader in adopting technology, the Dubai Media Office reported April 11. Continue reading UAE Government Launches Blockchain Strategy 2021
In realizing the many applicable uses which are available today it is easy to see how Smart City dreams, Dubai hopes to create a distributed platform which will connect its citizens to public transportation, reduce energy consumption, create online libraries and resources for students, and allow businesses to openly share their resources. Dubai is looking to completely integrate its government sector using blockchain technology in order to increase efficiency, transparency, and openly transform its economy on its immutable openly accessible public ledger as Dubai’s most important experiments into the fintech realm. This will surely act as a model for other cities States and Countries throughout the region and the world taking full advantage as the Global Leader in this historic use case of this highly advanced infinately secure soon to be embraced in all aspects of our lives and always will be known as the greatest emerging technology of our time.
Dubai is a region where the blockchain can play a significant role of importance for the future. World Blockchain and Token Summit, Dubai will bring together a diverse range of local and international speakers to discuss blockchain and cryptocurrency use cases, the regulatory environment, technology hurdles and opportunities in innovation and disruption that can be leveraged using this technology.
At this point, it’s fair to say the cryptocurrency industry is constantly evolving. Over the course of the past couple of months, we have seen a number of countries roll out new uses for virtual currencies. In Canada, for instance, individuals can now use Bitcoin to purchase meals from KFC. In Australia, travelers will soon be able to purchase items using Bitcoin in the Brisbane Airport. Now, we’ve been informed that luxury flats in Dubai can be purchased with the virtual currency. In fact, there have already been 50 flats sold in Dubai for Bitcoin. Business Insider published a report yesterday which stated that two UK entrepreneurs have sold 50 luxury flats in Dubai for Bitcoin. This is significant news as it suggests the cryptocurrency industry, at least in Dubai, might be making a move into real estate.