Smart Dubai and IBM Will Offer Government-Endorsed Blockchain Platform
Foto: Smart Dubai
Smart Dubai and IBM announced the launch of the Dubai Blockchain Platform, the first government-endorsed blockchain platform as-a-service in the United Arab Emirates.
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. The platform will conform to the Information Security Regulation standards issued by the Dubai Government. It will also be powered by 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. Through the collaboration, Smart Dubai aims to run all applicable government transactions on blockchain and make Dubai a global benchmark for city-wide blockchain implementation.