UAE Official Reveals Govt. Crypto Roadmap

Apr 13, 2018 at 11:00

United Arab Emirates vice president and prime minister, Sheikh Mohammed bin Rashid, has launched the UAE Blockchain Strategy 2021 project aimed to make the nation as a world leader in adopting the technology.

According to the Dubai Media Office, the official who also serves as Ruler of Dubai mentioned that adoption of Blockchain technology would support the government’s preparation for future challenges as well as to save up to $3 billion annually that the government spends on document circulation.

“The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens. Fifty percent of government transactions on the federal level will be conducted using Blockchain technology by 2021… This technology will save time, effort and resources and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work,” Sheikh Mohammed explained.

He added that the initiative will also allow them to save millions of work hours, reduce government documents by 389 million and save 1.6 billion kilometers spent driving as the strategy will focus on “citizen and resident happiness, government efficiency, advanced legislation and global entrepreneurship.”

The official further expressed that the government of UAE intends to invest in “courses, events, workshops, and reports to build its standing in Blockchain” and “support university education specializing in the field and related subjects like encryption.”

Last February, Dubai’s Roads and Transport Authority already announced its plans to launch a Blockchain-based vehicle lifecycle management system by 2020 to allow customers to track the history of their vehicle.

Last month, Dubai also released plans to launch a virtual Blockchain-based tourism-specific marketplace that will connect all tourist organizations involved in planning trips to provide guests with transparent and real-time pricing.