UAE Moving Government to Blockchain

UAE Moving Government to Blockchain

UAE Moving Government to Blockchain

Over 50 per cent of the UAE’s federal transactions would be powered by blockchain technology by 2021, it was announced on Wednesday. The Emirates Blockchain Strategy would help the country save Dh11 billion spent annually on document transactions and documents.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said the adoption of blockchain technology would help the government prepare for future challenges.

“The UAE has chosen to adopt the development of the ‘future industry’ in various aspects as means of development … It is on its way to becoming a world leader in adopting technology,” he said as he launched the strategy in Dubai. “The adoption of this technology would reflect on the quality of life in the UAE and will enhance happiness levels for citizens.”

The strategy rests on four pillars: Citizen and resident happiness, government efficiency, advanced legislation and global entrepreneurship. The government will use training courses, events, workshops and reports to build its standing in blockchain and support university courses specialising in the field and related subjects like encryption.

Sheikh Mohammed stressed that the UAE government uses technology to serve its people. “Some consider new technologies as a challenge; we see as a tool to overcome challenges.”

Heffx Applications of Blockchain

The Heffx Blockchain software environment for digital assets offers one of the largest production blockchain platforms in the world, we are using brand new technology combined with decades of exchange experience to build a radically better financial system. Blockchain and the value of distributed-ledger technology is being recognized by the leading global institutions and a growing number of individuals. Blockchain empowers global institutions and individuals with the same level of control, transparency, security and ease of use it will fundamentally change the way we do business.

The following two tabs change content below.
S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

Latest posts by S. Jack Heffernan Ph.D (see all)

You must be logged in to post comments :