Dubai Future Foundation Develops Blockchain Innovation

Asia Blockchain Review
November 7, 2019

The Dubai Future Foundation has revealed its mission to promote four areas of innovation, namely blockchain, aviation, energy, and entrepreneurship through four innovative laboratories in the UAE that will research and test these innovations to drive the nation’s development.

Promoting Innovative Labs in the UAE

Vice-President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammad Bin Rashid Al Maktoum revealed that the labs are crucial to shaping the future of the country.

“Today, we have launched four innovative labs that will focus on predicting the future of aviation, energy, blockchain and entrepreneurship. Our end goal is to make these labs a hub for launching future-oriented innovations that will eventually upgrade our business and service sectors,” he stated. 

“These labs will support the UAE Centennial Plan 2071 and will lay the foundations for building a global centre to test future innovations of the country.”

Blockchain Future Lab to Work with IBM

As part of the initiative, the foundation has launched the Blockchain Future Lab, which will be working with IBM to promote blockchain adoption. The lab will connect with government agencies and blockchain companies to develop use cases for the technology, with AREA 2071 designated as a testing ground for the lab’s projects.

“A diverse team of IBM experts will work with customers to develop new ideas, then test and develop them quickly, building on the company’s global expertise, assets, diverse partnerships and extensive network,” a press release revealed.

There have been other recent developments in the crypto landscape in UAE, with the Securities and Commodities Authority (SCA) releasing a draft policy for crypto assets regulation and asking for feedback from players in the industry. 

The draft addressed various issues related to cryptocurrencies, from issuance and custody to circulation.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Expert Insights On The Asian Crypto Market
    Trescon hosted its first virtual edition of the popular World Blockchain Summit (WBS) series on Thur...

    August 11, 2020

    Digix Partners with Axie Infinity In Gaming
    The world’s first asset-backed digital gold token, Digix has partnered with Axie Infinity on a digit...

    August 11, 2020

    Distributed Ledger in Education: UCSI Explores
    Asia Blockchain Review had the opportunity to chat with the director of ICSDI at UCSI on the whole d...

    August 11, 2020

    Mainstreaming Of Cryptocurrency Investments? An Exploration
    While the security and the regulation is well chronicled. The big question that needs to be answered...

    August 10, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us