UAE Government-Supported Blockchain Platform By Smart Dubai And IBM Launches
The Islamic world is not ignoring the blockchain technology. Just today, October 30, Smart Dubai and IBM Blockchain have announced the launch of the Dubai Blockchain Platform, which was created by the partnership between the two tech companies with the backing of the United Arab Emirates’ government.
— Smart Dubai (@SmartDubai) October 30, 2018
The platform is going to be the first government-endorsed blockchain that will work as a platform-as-a-service in the country and it will be delivered by IBM Cloud while built locally in the country. This new platform will be focused on serving as the main stepping stone for organizations in the United Arab Emirates and will become global soon.
Another use for this new technology is to digitize applicable government processed and citizen services. Smart Dubai will use its collaboration with IBM to run all the transactions and put Dubai on the map when blockchain tech is the subject.
Dubai And Blockchain
At the moment, Dubai has been leading the efforts to transform the blockchain technology into a reality in the country and to create a paperless government by 2021. The plan, which is certainly very audacious, is backed by IBM and Smart Dubai.
The country is currently focused on using this new technology across many sectors like roads, energy, transport, healthcare and education and it is already elaborating plans on how to use the technology to create a better system for the State.
With the help of this new platform, the government will integrate digitized information about the country and help the citizens on their daily lives. It will also be very useful for conducting transactions locally and to lower the operational costs of the whole process. This platform will use the Information Security Regulation (ISR) standards created by the Dubai government.
IBM’s mainframe technology will be backed by LinuxONE, which has been reported to run over 6.2 billion web transactions in a single day. One of the first services will be the Dubai Pay Blockchain Settlement program. With the program, entities will take about 45 days to reconcile and settle payments with other entities from the government.
Aisha Bint Butti Bin Bishr, director general of the Smart Dubai office, has affirmed that the Prime Minister of the United Arab Emirates, the Prince of Dubai and many other important figures are backing the initiative, which will be useful to migrate the city to a “smart city” soon and to create a town that will be competitive and efficient.
Wesam Lootah, the CEO of Smart Dubai, believes that the city will become a world leader in the blockchain technology and that this will have a very positive impact on the lives of the citizens there. With these new technologies, the group expects the city to develop its economy and the efficiency of the State better.