Dubai: The UAE has officially approved a strategy to adopt the blockchain, a digitised, decentralised, public ledger of all cryptocurrency transactions.
UAE Vice President, Prime Minister and Dubai Ruler Shaikh Mohammed bin Rashid Al Maktoum endorsed the blockchain blueprint, “which would help the UAE government prepare for future challenges”.
Under the strategy, over 50 per cent of the UAE federal transactions would be powered by blockchain technology by 2021.
The Emirates Blockchain Strategy would help the country save Dh11 billion spent annually on document transactions and documents.
The UAE 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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