Dubai will also be publishing a report on its future blockchain landscape
The Dubai Future Council for Blockchain Dubai has launched its Dubai Blockchain Policy at Smart City Expo World Congress in Barcelona.
The policy is one of three initiatives from the Council for 2019 and 2020 and aims to establish Dubai as a global blockchain capital and provide a platform for exploring blockchain-based solutions. It also plans to issue reports on Dubai’s cryptocurrency positioning and its future blockchain landscape.
The launch of the Dubai Blockchain Policy complements Smart Dubai’s efforts to implement the Dubai Blockchain Strategy. Launched in 2016, the strategy seeks to make the Dubai Government the first in the world to conduct 100 per cent of applicable transactions via blockchain by 2020.
The policy comprises three core areas:
• Foundational capabilities, which cover technology platform and services, architecture and standards, shared network services, and legal support.
• Network governance, which includes network ownership and membership, intellectual property, funding and monetisation, and network expansion.
• Network operations, which covers data formats and interoperability, data privacy and confidentiality, node and network security, audit and compliance, and communication and adoption.
Director general of Smart Dubai, Dr Aisha Bint Butti Bin Bishr, said the emirate has been embracing advanced and emerging technologies and described blockchain as one of the most “prominent and promising of these breakthrough technologies”.
The Dubai Blockchain Strategy seeks to make the Dubai Government the first in the world to conduct 100 per cent of applicable transactions via blockchain by 2020.
She added: “With that in mind, the Dubai Future Council for Blockchain sought to develop a policy to support government entities and private companies to implement the technology and form value-creating blockchain…