Dubai has announced several initiatives in practical applications of distributed ledgers, with the intention of positioning itself as a hub for blockchain technology and digital financial innovation, Gulf Business reports .
The Global Blockchain Council was established in February by the Dubai Museum of the Future Foundation ‒ also known as Dubai Future Foundation ‒ to promote innovation and use the next generation of technologies to enhance the position of the United Arab Emirates (UAE) as a leading center for innovation and knowledge economy. The council has about 40 members from different industries, partnering in blockchain technology advocacy and experiments. There is a working party and an executive group, which are roughly the same, but differ in the frequency of meetings.
The council has been established to develop innovative solutions and next-generation services for smart cities, help the UAE authorities and corporations understand the potential and the regulatory implications of distributed ledgers and to run pilot projects.
“The Global Blockchain Council will launch different initiatives under its umbrella to highlight and promote Blockchain and digital currencies, and explore its advantages and disadvantages,” said Saif Al Aleeli , Chief Executive Officer of Dubai Museum of the Future Foundation. “It will also draw a roadmap for best uses of this emerging technology.” Al Aleeli added that, as indicated by several studies, the global market for digital transactions and the global investments in blockchain technology are expected to skyrocket in the next few years.
In May, the foundation announced a strategic partnership with the Keynote Conference to host the conference in Dubai on May 30, 2016. At the conference, the Global Blockchain Council launched its first pilot projects in digital financial transactions.
Bitcoin Magazine reached out to Moe Levin , founder of Keynote Events, to find out more. Levin, a member of the Global Blockchain Council, […]
