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


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