Dubai Launches Blockchain-Based Unified Business Registry

Asia Blockchain Review
October 24, 2019

The Dubai Department of Economic Development (Dubai Economy) recently revealed that is has cooperated with Dubai Pulse to launch its Unified Business Registry Platform (UBRP). UBRP relies on a blockchain platform to enhance transparency and facilitate business registration.

Dubai Economy Pushes for Digital Transformation

Dubai Pulse, a joint program run by Smart Dubai and Emirates Integrated Telecommunications (EITC), provides the registry with a blockchain platform as a service (BPaaS).

Currently, members of the UBRP include the Dubai Silicon Oasis Authority, Electricity and Water Authority, and Multi Commodities Centre, with plans to add dozens more government agencies to the registry. 

According to a report by Ledger Insights, the UBRP is the first blockchain platform hosted in the UAE that integrates both Hyperledger Fabric and Enterprise Ethereum, enabling interoperability between protocols and smart contracts.

Bringing Blockchain to the Masses

Dubai has been a leader in driving blockchain adoption with the use of technology in many areas, from mortgage registration and a KYC (Know-Your-Customer) consortium to several trade finance projects.

Meanwhile, the Smart Dubai initiative aims to give citizens access to blockchain-based services with the goal of becoming a paperless government by 2021.

Wesam Lootah, CEO of Smart Dubai, revealed that the registry is another key step for the Dubai government.

“The success of the flagship Dubai Pulse platform means it is now a mainstay for all government entities and enterprises looking to utilise its transformative capabilities,” said Lootah. 

“Many government entities are enjoying the innovative value of the platform and, with the [UBRP], we are another step closer to realising the vision for a happier, smarter, and more digitally-enabled Dubai.”

Source: https://www.ledgerinsights.com


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