The Digital Era is growing at an accelerated pace,and we are witnessing regular instances of innovative technological solutions which will change our business world. Block Chain as a leading technology would radically change how Governments and companies work over the entire world.
BlockChain is a database or a new method for organizing data, and works as an electronic record system and transaction processor . To allow all parties to track information via a secure network requires third party verification. You can also say that the BlockChain digital Protocol can be used for transactions and transferral of funds using a wide network of computers around the world. The rules required by this Protocol are: availability of electronic currency, and an accurate record and absolute confidence among traders, as this data can constitute Private or public processes , according to the choice of the quality of confidentiality of personal information required for the parties involved in the trade.
The perceived digital transactions of BlockChain represent a technology that would formulate the entire digital age, so that the benefits of this technology are numerous and incalculable, both in terms of cost or risk reduction or transparency of transactions. Companies in most sectors benefit , which applies to Governments also.
Meanwhile, digital trading platforms could be used to block financial transactions, while the concept of digital coins , with the consent of all members, limits fraud and money laundering. Thus, for example ,digital currency , eliminates forgery or damage and can be moved across borders with ease, and can facilitate Shopping process via social networks and websites..
BlockChain platform supports an over 2 million strong portfolio of digital currency and is backed by bitcoin Apple operating systems Android and the Internet. It is available worldwide in more than 15 languages, and users can send digital currency through emails and text messages, while maintaining user privacy, security standards and protection. The services associated with market volume of BlockChain worldwide amount to about half a trillion dollars, with expected growth of this market to greater rates based on increased demand for such services from all sectors.
To enhance the prestige of the UAE in promising technology adoption in sectors of strategic interest and contribution to building an economy based on knowledge and innovation and forward thinking , Dubai seeks to build future science and innovation strategies and explore the next generation of Technology.
Of course, this comes in response to the Dubai strategic initiative digital transactions “BlockChain” launched by Sheikh Hamdan Bin Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Board, aspiring to become the Government of Dubai, the first Government in the world to engage all their transactions using BlockChain by the year 2020.
This project is part of Dubai initiative 10x, which aims to make the Dubai Government departments about 10 years ahead of the rest of the world in every way, shape and form.
The initiative was launched at the fifth version of the “World Summit” by Sheikh Hamdan Bin Mohamed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council. The Dubai initiative 10x seeks to push the UAE to 10 years in the future, perhaps BlockChain is the best way to go. We will discover Dubai to develop standards for applying the technology BlockChain in Government work, to be the first city to put such specification in the world, accords with the vision of his Highness Sheikh Mohamed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE ruler of Dubai, to make Dubai the happiest City on Earth. In Dubai, ambitious solutions will be translated into comprehensive experience , with a better outcomes for the city, all its occupants and every visitor in the very near future.
We are building all the smart infrastructure , known as the “smart digital column” of the Principality, since all government transactions in Dubai will be transferable to the platform BlockChain by 2020 . In the year 2021 the strategy will also be launched, whereby the last paper transaction will be celebrated in Dubai.
Within the framework of the Dubai initiative 10x we announced the launch of project “smart” City University podium , the first of its kind in the world. Based and set out on the BlockChain, this platform will raise the proportion of digital skills among individuals in the UAE by 10% in 2020, as well enabling them to document everyday skills.
UAE knows that the future doesn’t wait for anyone, so we make it so now. We are building plans for new techniques ,such as BlockChain, while still the world explores the technology and feasibility ,Dubai is taking command of global efforts to be come the world’s BlockChain capital.
Author : Manahel Thabet
Website : http://www.manahelthabet.com/