His Highness, Shiek Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai and Vice President and Prime Minister of the UAE has announced his plans on adopting the blockchain technology as means of development and a way to lead the world in terms of adopting new technology.
Shiek Mohammed Bin Rashid Al Maktoum discussed the matter during the launch of ‘UAE Blockchain Strategy 2021’. The Blockchain strategy focuses mainly on the happiness of the citizens and residents, increasing the efficiency of the government, focusing on advanced legislation and global entrepreneurship.
If the strategy works in accordance with the plan, it will reduce the vast amount of time and money spent on document transactions and travel and will also reduce the work duration due to its efficiency; an approximate of $3 billion will be saved annually.
According to his Highness, the adoption of blockchain technology will reflect on the quality of life in the UAE and will enhance happiness levels for citizens.
He further adds:
“50% of government transactions on the federal level will be conducted using blockchain technology by 2021. The technology will save time, efforts and resources and enable individuals to conduct most of their transactions in a timely manner that suits their lifestyle and work”
The 50% of government transactions on the federal level which will be conducted using blockchain technology.
Anthony Pomliano, a crypto-capitalist says:
“The UAE just announced their ‘Blockchain Strategy 2021’ with a goal to conduct 50% of federal government transactions using blockchian tech by 2021. They estimate it will save $3 billion annually. The virus is spreading & even governments are catching the bug”
Michael Hartl, the Founder of Learn Enough and Author of Rails Tutorial says:
“I’ve been waiting for something like this. The current monetary regime (Bretton-Woods II) appears to be quite unstable to defection; given their financial savvy and the monarchical nature of their governments, the UAE was high on the list of places I thought might go first. Now all they need to do is understand that, for their purposes, blockchain = Bitcoin”
In addition, the government will be supporting university courses specializing in blockchain technology and subjects related to it by using training courses, workshops, events, and reports.
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