The UAE intends to enter the leaders of the blockchain industry until 2021

The UAE intends to enter the leaders of the blockchain industry until 2021

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Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and Vice-President of Incorporated The United Arab Emirates (UAE), declared the start of blockchain strategies realization of that is expected 2021 to. About it reported on a website OpenGovAsia.

As a Sheikh  Mohammed underlined, development and general introduction of blockchain decisions will help a country to economize an about AED  11 billion (near a $3 milliard), and also to shorten surplus labour resources and decrease the volume of paper circulation of documents.

“Introduction of this technology positively will affect quality of life in UAE and will promote the level of prosperity for citizens. To 2021 the half of state contracts at federal level will come true by means of technology of blockchain, – the emir of Dubai marked. – This technology will economize time, forces and resources and will allow to the people in good time to carry out greater part of transactions, that will correspond to their rhythm of life and work”

Blockchain strategies is base on four fundamental principles: “happiness of citizens and residents, efficiency of government, progressive legislation and global enterprise”.

In addition, the government of UAE intends to finance “courses, events, seminars” and other educational initiatives, aimed at the increase of level of knowledge and popularization of technology of the up-diffused register.

In September, 2017 the government of UAE started Strategy of UAE for fourth industrial revolution the aim of that is strengthening of position as a global center for fourth industrial revolution and increase of her contribution UAE to the national economy by advancement of innovations and future technologies. Blockchain is part of tool within the framework of this strategy.

We will mark that about the plans of government of Dubai to translate all state circulation of documents on blockchain it was known as early as 2016.

We will remind also, in October it was the last year known about the blockchain system of registration of ownership on the real estate, worked out by Department of the landed resources of Dubai, rights.

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