Dubai Plans to be the World’s First Blockchain City

Dubai Plans to be the World’s First Blockchain City

Dubai, a global hub for trade, wants to incorporate the blockchain into daily economic life. The country believes blockchain technology could put them on the cutting edge of simplified record-keeping, as well as the transportation of goods worldwide.

Blockchain incorporation into the society there, which joins an across the board effort to place Dubai on the cutting edge of how cities are run, will exist alongside Dubai’s advanced transportation infrastructure and near-zero taxes.
The world’s largest corporations, such as IBM, Microsoft and dozens of big banks, are exploring uses for the blockchain like sharing and tracking information on transactions and contracts.
Dubai cites the many blockchain-focused private businesses appearing in the city as a reason for taking the step towards a blockchain world. Dubai wants business activity to become easier in their country thanks to Bitcoin’s underlying technology.
“We want to make Dubai the first blockchain-powered government in the world by 2020,” Aisha Bin Bishr, director general of Smart Dubai, the nation’s innovation office, told The Wall Street Journal. “It is disruptive for existing systems, but will help us prepare for the future.”