Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai announced that by 2021, 50% of government transactions on the federal level will be conducted using blockchain technology.
He made this announcement during the launch of the UAE Blockchain Strategy.
According to Sheikh Mohammed, blockchain technologies will help the government prepare for future challenges and contribute to saving AED 11 billion ( USD 3 billion) spent annually on document transactions and documents, 77 million hours of work, reduce government documents by 389 million, and save 1.6 billion kilometers spent driving.
“The adoption of this technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens. It 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,” he noted.
According to Sheikh Mohammed, UAE has chosen to adopt the development of ‘Future Industry’ in various aspects as way of development on its path of becoming a world leader in adopting technology.
.@HHShkMohd: Today, we launched the ‘Emirates Blockchain Strategy.’ Within a three-year period, 50% of government systems will adopt the blockchain technology. This will help save 398 million printed documents & 77 million work hours annually. #UAE pic.twitter.com/zItJARy8t0
— Dubai Media Office (@DXBMediaOffice) April 11, 2018
The UAE government is planning to organize training courses, events, workshops and reports to build its standing in blockchain and support university courses specializing in the field and related subjects like encryption.
In addition, the plan focuses on four core themes: citizen and resident happiness, government efficiency, advanced legislation, and global entrepreneurship.