Dubai’s Blockchain Strategy got a major boost at the GITEX Technology Week, which started on October 8 and running until October 12.
At the event, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, inaugurated Dubai Electricity and Water Authority’s (DEWA) "Block Chain initiative for Green Charger".
DEWA stated:
“The Blockchain initiative supports Dubai Blockchain Strategy. The Blockchain strategy is the first of its kind in the world, and aims to achieve a significant advance in supporting the technological and digital transformation in Dubai.”
The inauguration came on the heels of the latest blockchain announcement from the Dubai Land Department (DLD).
Arabian Business reported that the DLD has built a blockchain system to create a secure database that records all real estate contracts, and links them with the DEWA, the telecommunications system, and various property-related bills.
In addition, the platform also includes a tenant base, including Emirates Identity Cards and the validity of residency visas. Using this system, tenants would be able to make electronic payments without the need to visit any government entity.
“Our adoption of this system is aligned with our commitment to responding to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to make Dubai the smartest city in the world,” Sultan Butti bin Mejren, Director-General of DLD, said. “Following the launch of the Dubai Blockchain Strategy by H.H. Sheikh Hamdan bin Mohammed in October 2016…DLD created a smart and secure database that records all real estate contracts. This makes DLD the first government entity in the world to implement all of its transactions through the blockchain network.”
The initiative will be followed by other efforts to use blockchain technology. Bim Mejren expects to see more partners joining blockchain to improve their client services, including banking, mortgages, and utilities and maintenance operations.
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