News : WoW...DUBAI WILL BE FIRST BLOCKCHAIN-POWERED GOVERNMENT

in #news6 years ago

Hi Steemian,

The online payment portal DubaiPay will now use blockchain technology for real-time reconciliation and settlement of transactions. This is another step towards Dubai’s goal of becoming the world’s first blockchain-powered government by 2020.

Dubai’s government is currently working on a total of 20 use cases for blockchain technology to complement its existing operations. Dubai’s government has strategic partnerships with IBM and Consensys as advisors to help them and Smart Dubai further their goals.

Smart Dubai and its government arm Smart Dubai Government Establishment (SDG) aims to drive the city’s success and global competitiveness via smart technology. SDG include the move to blockchain in their remit.

Mira Sultan Obaid Abdul Rahman, director of the smart services enablement department at SDG, told Gulf News it plans to increase government efficiency by moving all transactions to blockchain. The Dubai Department of Finance (DoF) works behind the scenes to enable the transactions on DubaiPay and addresses any issues and disputes. The DubaiPay portal handles transactions from 27 government entities and a further 14 non-government entities.

Using blockchain technology developed by Avanaza Solutions, DubaiPay will now provide real-time monitoring of transactions — though the actual transactions could still take 45 days to reconcile by the DoF. Mira Sultan Obaid Abdul Rahman explained:

" There is no real-time monitoring of the transaction in the old system and with blockchain, the whole process can be monitored in real time."

dubai.jpg

Copied from : https://bitcoinist.com/dubai-is-building-a-blockchain-powered-government/

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