Dubai committed to explore potential of blockchain tech

Business Bureau, Gulf Today

DUBAI: “Dubai is committed to exploring the potential of blockchain technology to support our ambitious goal of becoming the world’s happiest city, and we have already come a long way since the inaugural Future Blockchain Summit. We want Dubai to be a global blockchain hub that will lead the way in developing the technology further allowing us to improve lives not only locally, but on a global scale too.” This was stated by Dr. Aisha Bint Butti Bin Bishr, Director General, Smart Dubai Office.

“We are already seeing a multitude of ways in which blockchain can transform a community,” she said adding, “Smart Dubai has been working on over 20 city-wide blockchain use cases in partnership with the government and private sector, and we will see many more in the months and years to come.

She expressed her views in connection with the Smart Dubai’s Future Blockchain Summit, that returns to the city next month, as the emirate continues its surge towards becoming the world’s first government to execute all applicable transactions using blockchain technology by 2020.

In line with the Dubai Blockchain Strategy, the second annual Future Blockchain Summit will take place on April 2 and 3, 2019 at the Dubai World Trade Centre (DWTC). Officially hosted by the Smart Dubai Office, the two-day event will bring together an agenda-setting global pool of technology visionaries, government bodies, the world’s biggest brands and industry first-movers to push blockchain forward and champion its adoption on a global scale.

The summit will shine the spotlight on excelling blockchain technologies, moving conversation beyond theoretical use-cases and into real-life opportunities. It will look at blockchain use across the world’s most integral industries, including retail and e-commerce, healthcare, transportation, education, food, hospitality and tourism, energy, fintech and banking, safety and security.

It is expected to welcome more than 8,000 international visitors, and will host speakers from world-renowned brands like Coca-Cola, Tencent, Johnson & Johnson, Maersk, HSBC, eBay and Lufthansa. Government entities including du, Dubai Land Department and Dubai Health Authority will all be on-hand to showcase their advancements and use cases in the revolutionary technology.

The summit will be the PwC Middle East-backed Global Leaders Exchange – a closed door, round-table discussion where senior government and business officials will work to catalyse blockchain use by focusing on two central themes: establishing policy for blockchain implementation, and positioning crypto-assets in a time of market turbulence.

Ahmad AbuHantash, Technology Consulting Partner at PwC Middle East, said: “Blockchain technology is enabling governments and businesses to increase transparency, conduct transactions securely, and increase efficiency. Like any emerging technology, its application requires robust government support and in some cases regulation to increase adoption, drive innovation and increase people’s happiness.

“Dubai is leading the way forward in its ambition to become the first blockchain-powered government, with vision and leadership to pioneer the use of the technology and provide governance within key industry verticals such as real estate, financial services and healthcare.

“Our new report, which will launch ahead of the Future Blockchain Summit in April, draws a roadmap for organisations that are seeking to make use of this technology and make the transition from proof of concept projects to implementation.”

At 2018’s debut Future Blockchain Summit, 76 per cent of visitors admitted attending with the sole purpose of trying to understand what blockchain is. This year, over 140 hours of speaker sessions will seek to demystify and unpack the technology – all in the presence of more than 80 exhibiting startups and established businesses, and experts from no fewer than 130 countries.

Globally, the blockchain market is set to shoot to a value of $60billion by 2024, up from $708million in 2017. Already, blockchain technology has transformed the financial industry with the incredible success of cryptocurrencies in recent years. Healthcare, real estate and energy industries are also reporting success with the implementation of blockchain technology.

The summit will have no less than six live conference and seminar stages, which will be home to many of the most talked about names in technology. Confirmed international speakers include Shark Tank panelist and the world’s first Bitcoin Oracle, Vinny Lingham; the CEO and Co-Founder of Civic and founding Director of the 6th largest cryptocurrentcy in the world LiteCoin, Franklyn Richards; rebel, explorer and tech pilgrim, Phil Chen – the man responsible for the world’s first native Blockchain phone, Exodus 1, and currently the Decentralised Chief Officer at HTC; G20 expert advisor and Director of Social Impact and Public Regulatory Affairs, IOTA Foundation, Dr. Julie A. Maupin; and Abdel Mageed Yahia, the Director of the World Food Programme, who pioneered a blockchain application to reduce world hunger.