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UAE Declared Blockchain Strategy 2021 to Save $3 Billion Annually

Apr 12, 2018 Posted /  1469 Views

UAE Declared Blockchain Strategy 2021 to Save $3 Billion Annually

UAE Declared Blockchain Strategy 2021 to Save $3 Billion Annually

Prime Minister of United Arab Emirates (UAE), Sheikh Mohammed Bin Rashid Al Maktoum disclosed the UAE Blockchain Strategy 2021, which means to execute the technology at the government level.

The methodology is relied upon to spare the federal government's $3 billion a year on document operations and 77 million worker hours, and in addition, cut government print records by 389 million. In general, the UAE plans to oversee half of the government transaction with the assistance of blockchain within the period of three years.

The technique depends on four pillars; residents happiness, government efficiency, advanced legislation and worldwide entrepreneurship.

Sheik Mohammed said amid the official launch:

“Adaptation to advanced technologies and utilizing them in serving society and enhancing the efficiency of government performance is a firmly established approach adopted by the UAE.”

He added, “We want to capitalize on this advanced technology to transform 50 percent of government transactions into the blockchain platform by 2021 in order to cement the UAE’s position to be among the most advanced countries that are well prepared to deal with future changes."

The UAE government will provide blockchain oriented training courses, workshops and events to merge its position with respect to the rising technology.

Shaikh Mohammad is sure that the distributed ledger technology can spare time, effort and assets in the UAE, helping clients process their transactions in an auspicious way.

Dubai, the biggest city in the UAE, declared its Dubai Blockchain Strategy in 2016. The activity was additionally launched by Sheikh Mohammed, the Ruler of Dubai. Smart Dubai, the substance in charge of executing the methodology and a progression of other inventive ventures, would like to spare yearly $1.5 billion and 25.1 million worker hours by moving 100 million paper documents to the blockchain. Smart Dubai uncovered that the strategy may be executed very soon.

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Tags: UAE UAE Blockchain Blockchain Strategy 2021 United Arab Emirates bitcoin blockchain

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