Dubai Economy: Dubai Pulse Unveils Blockchain-Based Business Registry
By Luke Flowers – Cryptocurrency Speculator
Dubai’s department of economic development has just announced its move to a blockchain-based Unified Business Registry Platform (UBRP).
An October 7 Saudi Gazette report says that the platform is going to help improve business with the city as well as allow licence issuers to trade corporate registries and licences. We could find that Dubai could soon find it easier to buy and sell Bitcoin.
The Dubai Electricity and Water Authority, The Dubai Multi Commodities Center, and The Silicon Oasis Authority are already on board with the platform. Eventually, the UBRP hopes to host over 40 government entities using blockchain for transactions. It has not been suggested whether the platform will buy and sell cryptocurrency currently on the market for the service or if a new coin will be created.
CEO of the Corporate Support Services sector in Dubai Economy, Abdullah Hassan was reported to say that UBRP will transform the economy of Dubai with the world’s first blockchain-powered government. The Dubai economy seems to be looking to streamline, simplify and secure the government of the future with hopes of progress by the UAE Vision 2021. Blockchain can provide broad solutions to many industries in which it could be integrated to pay for government salaries. A system such as this could buy crypto just for this purpose.
Hassan further added that Dubai Pulse’s BPaaS product will elevate Dubai’s business outlook by allowing a better regulation model through a unified and transparent business registry. The solution is hosted on Dubai Pulse, which is a Blockchain-as-a-Service (BPaaS) platform that is part of the joint initiative of Smart Dubai and telecommunications firm Du. This platform is also part of the larger Emirates Blockchain Strategy 2021, which was announced back in April 2018.
The UAE has planned to make sure that by 2021, over 50% of government transactions will be blockchain-based. Be this to buy and sell cryptocurrency through potential services.
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