Dubai – The Very First Blockchain City?

Dawid Paluch
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The United Arab Emirates is set to become the most technologically advanced country in the world. Dubai, the largest city in the Asian country, wants to be the first blockchain powered capital in the world.

A few weeks ago, The Advisory Council of the United Arab Emirates Banks Federation (UBF) talked applying the blockchain technology over with its member banks.

To become the smartest city in the world

Dubai is usually associated with splendor, wealthiest people, 6-star hotels, and the highest buildings on the Earth. However, the capital city is also one of the fastest developing cities in the Middle East.

Dr. Aisha Bint Butti Bin Bishr, the director-general of Smart Dubai, is convinced that the city is in a prime position to establish itself as the blockchain and crypto epicenter. He thinks that the city could become a fully-integrated blockchain smart city in the next couple of years. He said:

“Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. Guided by the vision of our leadership, the emirate has become synonymous with bravely embracing avant-garde technologies and utilizing them to create an advanced, connected and seamless urban experience for its residents and visitors.”

Global challenge

Smart Dubai created a plan to attract most innovative blockchain startups called Dubai Blockchain Strategy 2020. The program was announced at the beginning of 2019 by Smart Dubai and the Dubai Future Foundation.

The world will learn about another part of the plan at the Future Blockchain Summit on April 2-3, 2019, at Dubai World Trade Center. On this event, the next round of Global Blockchain Challenge will be held.

The 2018 Future Dubai Blockchain Summit hosted over 8,000 people, 130 crypto startups and over 140 speakers. This year’s event should attract even more people.

Dubai has ambitious plans which seem unlikely to be executed (at least that “by 2020” part). However, their ambition and resources can give them an advantage in the race to become the most progressive city in the world.

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