DUBAI, United Arab Emirates, Oct. 30, 2018 /PRNewswire
Smart Dubai and IBM today announced the launch of the Dubai Blockchain Platform, the first government-endorsed blockchain platform as-a-service in the United Arab Emirates (UAE). Delivered through an IBM Cloud environment and built locally in the UAE, the enterprise-ready platform will serve as a stepping stone for organizations in the UAE and globally to transition their blockchain testing and development into full-production. It will also transform and digitize applicable government processes and citizen services.
Dubai has been leading efforts to encourage the use of blockchain, with a vision to make the emirate a paperless government by 2021. As part of the Dubai Blockchain Strategy, for which IBM is the official Blockchain Strategic Partner, Dubai has seen the launch of various blockchain applications in a number of government entities across different sectors, including roads and transport, energy, healthcare and education.
The new Dubai Blockchain Platform will help integrate digitized services and experiences run on IBM Blockchain into citizens' day-to-day lives. Organizations will also benefit from keeping their data in-country and conducting transactions locally, and in turn, lower operational costs.
Photo: New blockchain platform in the UAE set to revolutionize citizen services (Credit: IBM)
The platform will conform to the Information Security Regulation (ISR) standards issued by the Dubai Government. It will also be powered by IBM's mainframe technology, LinuxONE™, which is capable of running more than 6.2 billion web transactions per day.
The Dubai Pay Blockchain Settlement and Reconciliation System, officially launched on 23rd September, will be one of the first projects to migrate onto the Dubai Blockchain Platform. Through this service, a process that used to take entities approximately 45 days to reconcile and settle payments with other government entities, banks and financial institutions, is now reduced to real time.
Her Excellency Dr. Aisha Bint Butti Bin Bishr, Director General of the Smart Dubai Office (SDO), said: "Guided by the forward-thinking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, and the directives of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, Smart Dubai has been moving rapidly towards our main objective of transforming the emirate into a full-fledged smart city that tops global competitiveness and happiness indexes."