Good Dubai is a authorities and city-led initiative to make Dubai the “smartest and happiest” metropolis on the planet. This week noticed Dubai’s the federal government’s cost portal grow to be blockchain-based.
First Blockchain-Powered Authorities
The net cost portal DubaiPay will now use blockchain know-how for real-time reconciliation and settlement of transactions. That is one other step in the direction of Dubai’s purpose of changing into the world’s first blockchain-powered authorities by 2020.
Dubai’s authorities is at present engaged on a complete of 20 use circumstances for blockchain know-how to enrich its current operations. Dubai’s authorities has strategic partnerships with IBM and Consensys as advisors to assist them and Good Dubai additional their objectives.
Good Dubai and its authorities arm Good Dubai Authorities Institution (SDG) goals to drive town’s success and international competitiveness through good know-how. SDG embody the transfer to blockchain of their remit.
Mira Sultan Obaid Abdul Rahman, director of the good companies enablement division at SDG, advised Gulf Information it plans to extend authorities effectivity by transferring all transactions to blockchain. The Dubai Division of Finance (DoF) works behind the scenes to allow the transactions on DubaiPay and addresses any points and disputes. The DubaiPay portal handles transactions from 27 authorities entities and an extra 14 non-government entities.
Utilizing blockchain know-how developed by Avanaza Options, DubaiPay will now present real-time monitoring of transactions — although the precise transactions may nonetheless take 45 days to reconcile by the DoF. Mira Sultan Obaid Abdul Rahman defined:
There isn’t any real-time monitoring of the transaction within the previous system and with blockchain, the entire course of may be monitored in actual time.
In its first part, two of Dubai’s authorities departments have used the blockchain-based reconciliations system and processed a reported 5 million transactions. Extra departments are anticipated to take part.
Dubai is Trailblazing
At a launch occasion on September 23, 2018, Dr. Aisha Bint Butti Bin Bishr, Director Basic of Good Dubai stated: