Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has revealed that the UAE government is committing to blockchain technology in a move intended to streamline the government.
His Highness Sheikh Mohammed said that the adoption of blockchain would help the government prepare for future challenges and contribute to saving US$3 billion (AED11 billion) spent annually on document transactions and documents.
As well as this, adoption of blockchain is touted to save 77 million hours of work, reduce government documents by 389 million, and save 1.6 billion kilometres spent driving.
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Comments by His Highness Sheikh Mohammed came during the launch of the ‘UAE Blockchain Strategy 2021,’ in presence of the Deputy Ruler of Dubai His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Minister of Cabinet Affairs and the Future His Excellency Mohammed bin Abdullah Al Gergawi, as well as a number of ministers.
“The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens,” Sheikh Mohammed said.
“50% of government transactions on the federal level will be conducted using blockchain technology by 2021.
“This technology 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.”
The UAE plan includes four pillars focusing on citizen and resident happiness, government efficiency, advanced legislation, and 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.