Dubai Government Launches Blockchain Business Registry

Dubai’s government is turning to blockchain technology to pave the way for foreign investments and businesses to come into the city-state Emirate.

In an announcement on Tuesday, the city’s Department of Economic Development (DED) has unveiled a joint blockchain endeavor alongside the Dubai Silicon Oasis Authority, labeled the ‘Dubai Blockchain Business Registry’. The project, developed in collaboration with the Smart Dubai office and notable long-time technology partner and early blockchain developer IBM, will ‘improve ease of doing business in Dubai and facilitate foreign direct investments’, the government’s media office said. The sweeping blockchain-powered project aims to streamline the process of establishing and operating a business in Dubai, enable efficient digital trading of licenses and documents covering all facets of a business and, crucially, ensure regulatory compliance with Dubai’s rules.

Reference: https://www.ccn.com/dubai-government-launches-blockchain-business-registry/

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