PM of UAE launches Blockchain Strategy 2021
The United Arab Emirates (UAE) will leave no stone unturned when it comes to being at par with other nations, specially in terms of technological advancements.
Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has launched the UAE Blockchain Strategy 2021 as part of plans to become a world leader in adopting technology.
The UAE Blockchain Strategy 2021 is primarily aiming at conducting 50% of government transactions at the federal level using blockchain technology by 2021.
Sheikh Mohammed at the launch said,
“The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens. 50 percent of government transactions on the federal level will be conducted using blockchain technology by 2021,”
UAE Blockchain Strategy 2021 will save time, effort and resources” and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work.
Sheikh Mohammed estimated that the UAE Blockchain Strategy 2021 would help the government save AED11 billion spent annually on document transactions and documents, 77 million hours of work, reduce government documents by 389 million, and save 1.6 billion kilometers spent commuting from home to office and vice versa.
The UAE Blockchain Strategy 2021 includes four pillars focusing on :
- Citizen and resident happiness
- Government efficiency
- Advanced legislation
- Global entrepreneurship
The government will use training courses, events, workshops and reports to build its standing in blockchain and support university courses specialising in the field and related subjects like encryption.
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