Dubai Global Blockchain Commission announces full funding for startups

Rage Review : The Dubai Museum of the Future Foundation was established in 2015 and was invested and created by Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the United Arab Emirates and Dubai. The innovation center has established the Dubai Global Blockchain Committee, whose 32 members include IBM and SAP as well as regional startups BitOasis, Umbrella and some other government agencies. It aims to encourage innovation and help Middle Eastern countries cultivate and investigate emerging technologies. Saif Al Aleeli, CEO of the Museum of the Future Foundation, said that they were driven by this global technology boom and began to explore blockchain technology. But as of now, this should be the world's first blockchain research institution with large-scale participation by government agencies.

Translation: Annie Xu

Dubai's Global Blockchain Council (GBC) has revealed that it may provide funding and talent support to startups this year.

The announcement comes after the young body held its second meeting to discuss initiatives it may adopt this year. The blockchain committee was created in February by the Dubai Museum of the Future Foundation. Its 32 member institutions include IBM and SAP as well as regional startups BitOasis, Umbrella and other government agencies.

The Dubai Global Blockchain Council said it may hold conferences and hackathons this year as an incubator for local companies, where attendees can interact with corporate innovation managers.

In addition, GBC decided to study the attitudes of global regulators towards blockchain and launch a series of pilot projects to explore emerging technologies with multiple public and private institutions.

Saif Al Aleeli

Saif Al Aleeli, CEO of the Museum of the Future Foundation, said the rising global technological boom is the motivation for Dubai and the UAE government to encourage technological innovation.

“The world’s interest in blockchain technology is growing.”