Dubai outlines its blockchain policy

Dubai Future Council has developed a new blockchain technology policy. The Dubai-Future-Council for Blockchain, led by Dr. Aisha bin Bishr, launched the emirate’s new technology policy at the 9th International Smart City Expo in Barcelona.

The Council was created in April 2019 by the Dubai Future Foundation. Its task is to find innovative solutions for strategic sectors and predict their future for the next 50 years.

At the second meeting in July of this year, the council approved a work plan in three areas for 2019 and 2020: positioning for cryptocurrencies, blockchain policies and a report on the future landscape for the blockchain in Dubai.

Aisha bin Bishr, speaking at the congress, called the blockchain one of the most promising technologies of the future. In this regard, the council has developed rules that will help state-owned enterprises and private companies to implement this technology and form blockchain networks.

In accordance with the indicated plans, Dubai will become the world capital of the blockchain and will offer a platform for the development solutions based on this technology, which will help meet the challenges of the future smart cities.

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The policy covers three main areas: fundamental capabilities (technology platforms and services, architecture and standards, general network services and legal support); network management (network ownership and membership, intellectual property issues, financing and monetization, network expansion); network operations (data formats and interoperability, host and network security, auditing and compliance, as well as communication and implementation.

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