Dubai Future Council for Blockchain event brought together various government departments and private companies with a vested interest in smart city technologies.
The Dubai Future Council for Blockchain has held a second meeting where three initiatives were presented and approved for 2019.
The council was formed by the Dubai Future Foundation, earlier this year, with the aim of finding innovative solutions for strategic sectors and to forecast their future over the next 50 years.
Smart city technologies
The event was staged at Smart Dubai’s offices and brought together local and global decision makers from various government departments and private companies with a vested interest in smart city technologies.
The first initiative will be a report on Dubai’s cryptocurrency positioning. The report is intended to be a comprehensive study of the cryptocurrency landscape, offering recommendations to enhance Dubai’s position as a prominent centre for this sector.
Compiled in collaboration with various stakeholders in the UAE and scheduled to be launched in October, the report explores cryptocurrency applications to boost the emirate’s services and economy taking into consideration all relevant aspects of regulations.
“Dubai has long shown its readiness to lead the way in embracing advanced technologies and embedding them in services and initiatives that improve people’s wellbeing and establish Dubai as the world’s smartest and happiest city,” said Dr Aisha Bint Butti Bin Bishr, director general, Smart Dubai.
“Blockchain is one of the most promising technologies to appear on the world stage in recent years and Dubai has already made remarkable accomplishments in the sector, launching a blockchain strategy and hosting international blockchain conferences that bring together influential international experts.”
The second initiative is the Dubai Blockchain Implementation Policy – a document that explores guidelines needed to be followed when implementing blockchain applications across Dubai, developed in collaboration with government and private sector entities and counter-reviewed by global stakeholders.
“Blockchain is one of the most promising technologies to appear on the world stage in recent years and Dubai has already made remarkable accomplishments in the sector”
The policy is set to be launched at the Smart City Expo in Barcelona in November 2019, covering three main criteria: foundational capabilities on blockchain; governance; and operations.
The third initiative is the Future Landscape Report for Blockchain in Dubai, which focuses on a number of prominent sectors in Dubai, forecasting what they could look like in the near future as they embrace blockchain technology.
This report will be developed with global stakeholders including WEF’s Fourth Industrial Revolution Centre.
The meeting’s agenda also included agreeing on the working groups formation for each of the three initiatives, as well as setting high-level delivery plans for them.
“We look forward to working with all member entities at the council to implement ground-breaking blockchain initiatives and accelerate Dubai’s transition into a full-fledged smart city of the future,” added Wesam Lootah, CEO of the Smart Dubai Government Establishment.
The Dubai Future Council for Blockchain is made up of 13 members from various government and international entities. It is set to hold four meetings per year to outline plans and form task forces to carry out the duties commissioned by the Council, as well as to follow up on existing blockchain initiatives and plans.