Middle East home to blockchain boom

Tessa DempsterTessa DempsterOctober 31, 2018
Middle east Blockchain Boom

One of the largest and most populated cities in the United Arab Emirates (UAE) is setting its sights on blockchain.

Unlike most regulators around the world, the UAE government and Dubai have been the driving force behind the promotion of blockchain.

Dubai has been using the technology to shake up major industry sectors such as finance and health with officials committed to base all government transactions on blockchain by 2020.

This year, the city went through the process of standardising blockchain related activities by establishing the first Court of the Blockchain.

The court will position Dubai at the forefront of LegalTech and judicial innovation with the aim of setting a global legal standard for blockchain.

“If you build it, they will not come. That’s not how the world works,” said Alfa-Enzo Foundation Founder Tony Tran at the Dubai World Blockchain Summit.

 

 

“One of the key things I have been focusing on is how do we get blockchain to resonate with the common people,” said Tran.

Big players of the blockchain and crypto world gathered at the World Blockchain Summit hosted global tech gurus, key industry players and government authorities.

The summit featured use-cases for the technology in business and government.

All in all, the self-declared ‘Happiest City on Earth’ seems pretty jovial about about the technology.

Next up, the World Blockchain Summit heads to Amsterdam before rounding the year out in Saudi Arabia.

Coincast TV guest reporter Trader Cobb attended the conference.

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