Bitcoin wallet startup Blockchain helps Dubai government achieve 2020 digitalization plan

Rage Review : Blockchain, a Bitcoin wallet and blockchain browser developer, will work with the Dubai government to help it achieve its goal of transferring all government documents and transactions to the blockchain by 2020. According to media reports, Blockchain CEO Peter Smith revealed plans to expand into the Middle East at the World Economic Forum in Davos, Switzerland. The Dubai government began actively exploring blockchain technology in 2016, so the news of Blockchain's cooperation with the Dubai government once again shows its determination to apply blockchain.

Translation: Annie_Xu

Bitcoin wallet and blockchain browser developer Blockchain has partnered with the Dubai government to move all government documents and transactions onto a blockchain by 2020.

Blockchain CEO Peter Smith revealed the company’s plans to expand into the Middle East at the World Economic Forum in Davos, Switzerland.

According to local media reports, Smith's speech content:

"I am confident in the Middle East market and plan to invest heavily there. This is a good opportunity to build new financial infrastructure in the region."

Peter Smith

Pure blockchain

He did not disclose the specific investment amount, but if the news is true, Blockchain’s cooperation with the Dubai government will be a huge coup for the Bitcoin wallet startup.

The Dubai government began to publicly pay attention to blockchain technology in October 2016, when Dubai Crown Prince Hamdan bin Mohammed announced the "Dubai Blockchain Strategy" project, planning to move all transaction processes to the blockchain by 2020; Hamdan said Dubai would be the first country in the world to do so.

Dubai has quickly become a hotbed for Bitcoin and blockchain projects. In early 2016, the Dubai government established the Global Blockchain Council to implement the plan. In May of that year, Dubai Bitcoin startup and exchange BitOasis successfully completed its seed round of financing.

Recently, the Abu Dhabi Securities Exchange developed and released an electronic voting distributed ledger platform to allow shareholders of listed companies to vote seamlessly.

Regulation

Middle Eastern leaders attending the 2017 World Economic Forum agreed on the transformative potential of financial technology. However, allegations that Bitcoin is used for terrorist financing have made them see the challenges of regulating the industry. Therefore, Smith reminded attendees that there is no evidence to prove that Bitcoin is involved in this activity. After the Paris terrorist attacks in November 2015, Europol also stated that Bitcoin is not related to terrorist financing.