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08/10/19 04:47 UTC-4

Blockchain simplifies business registration in the United Arab Emirates

OtherBlockchain businesses registration in Dubai
Blockchain businesses registration in Dubai

The Dubai Department of Economic Development has announced its move to a blockchain-based unified business registry platform (UBRP).

BlockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
in Dubai

The platform aims to streamline Dubai's businesses, licensing processes, and registration processes for private and federated organizations.

Now, the platform includes the Silicon Oasis Authority, Dubai Electricity and Water Authority, and Dubai Multi Commodities Centre.

UBRP ultimately seeks to involve 40 government organizations.

The software is presented on the blockchain platform as a service called Dubai Pulse, made in collaboration with Smart Dubai and the telecommunications company du.

Interesting in the section: Financial authorities in the United Arab Emirates held a joint forum on FinTech and crypto-assets

  • Dubai Pulse is also one of the developments in the Emirates Blockchain 2021 strategy, launched in April 2018.

  • The UAE also aims to secure 50% of government agreements on the blockchain by 2021.

See also: "Bitfinex & Tether accused of $1.4 trillion crypto market manipulation"

#Blockchain #Dubai #ArabEmirates

Editor: Yuliya Soroka
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