Dubai’s Economic Department Uses Blockchain To Validate Business Licenses

Asia Blockchain Review
October 26, 2019
Dubai’s Economic Department Uses Blockchain To Validate Business Licenses

Local and federal entities in Dubai can validate their licenses on the platform developed by the Dubai Department of Economic Development, with UBRP planning to host 40 government bodies.

Through UBRP, governments can manage trade licenses and corporate registries on the Blockchain Platform as a Service (BPaaS) system. Two different protocols used by the system are the hyperledger fabric and Ethereum’s enterprise client.

The Next Level Of Digital Transformation

Abdullah Hassan, CEO of the Corporate Support Services sector in Dubai Economy, stated: 

“Dubai Economy is moving to the next level of its digital transformation with the Unified Business Registry Platform and we are proud to be in the forefront of Dubai’s march to being the world’s first blockchain-powered government.”

UBRP has already been used by three government entities, namely Dubai Silicon Oasis Authority, Dubai Electricity and Water Authority (DEWA) and Dubai Multi Commodities Centre (DMCC).

Blockchain Part Of UAE’s Vision 2021

Striving to become a “competitive knowledge-based economy,” Dubai has launched blockchain-services as part of the United Arab Emirates’ “Vision 2021” plan, with a focus on high-value sectors in the country.

Launched in 2010, Vision 2021 consists of four pillars: United in Responsibility, United in Destiny, United in Knowledge and United in Prosperity. The goal to become a competitive knowledge-based economy is addressed in the third pillar. 

H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE) and ruler of the Emirate of Dubai, has a vision to make Dubai “the first city fully powered by Blockchain by 2020,” with the Dubai Blockchain Strategy being part of efforts to achieve this vision.

Source: decrypt.co


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
    Blockchain-Based Property E-Sealing In China
    China courts are employing blockchain and AI-powered electronic seals to secure properties from dest...

    August 3, 2020

    Future Doctors: An Exploration Of Technology
    Blockchain technology provides an innovative approach to automated DR programs which creates another...

    July 25, 2020

    Vietnam On Track For A Supercharged Future
    The Vietnamese government wants to see the e-commerce sector to grow by at least 25% each year. Reac...

    July 22, 2020

    Digital Payment: Dethroning Cash As King
    In the age of the new normal post-Covid-19, perhaps blockchain wallets may be the technological gene...

    July 21, 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