Dubai Future Foundation has revealed that it will be hosting a blockchain accelerator program by the Centre for Fourth Industrial Revolution (C4IR) in the UAE, furthering the Middle Eastern nation’s bid to become the region’s hub of cutting-edge technologies.
According to local news agency The National, the objective of the program is to experiment with use cases for new technologies, from blockchain and artificial intelligence (AI) to precision medicine and machine learning.
To ensure that projects in the accelerator receive the best support network, the Dubai Future Foundation disclosed that it will invite collaboration from key partners in both the public and private sectors, along with international blockchain experts, representatives from the World Economic Forum, and other regulators with experience in driving blockchain projects.
Meanwhile, C4IR UAE revealed that it will be experimenting with blockchain government frameworks as well as other cutting-edge technologies such as AI and machine learning.
The Centre for the Fourth Industrial Revolution in the UAE was jointly established by the UAE government and the World Economic Forum. The C4IR is the fifth centre of its kind to be introduced in the world, with the other centres in the US, Japan, China, and India.
In April 2018, the UAE government had unveiled the Emirates Blockchain Strategy 2021. The initiative aims to shift over half of all government transactions onto blockchain-based platforms by 2021.
The UAE government has stated that by shifting to blockchain, it can save 77 million man hours as well as avoid printing 398 million paper documents per year.
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