United Arab Emirates

Dubai’s Global Blockchain Council GBC, formed in February this year, has announced seven pilot projects. These include Operation Kimberly, which aims to modernise the verification process for diamond trading, thus combating the trade in blood diamonds, and the Trade Flow project, which “looks to provide digital transaction services using the blockchain, as well as reducing costs, increasing security and providing superfast services to users”.

First Published by e-Forex News: October, 2016

Dubai’s Global Blockchain Council GBC, formed in February this year, has announced seven pilot projects. These include Operation Kimberly, which aims to modernise the verification process for diamond trading, thus combating the trade in blood diamonds, and the Trade Flow project, which “looks to provide digital transaction services using the blockchain, as well as reducing costs, increasing security and providing superfast services to users”. Also blockchain-based will be the UAE’s digital-wills registration service, and a project aiming to digitise and unify hospital records. Saif Al Aleeli, Chief Executive Officer of the Dubai Museum of the Future Foundation, parent organisation of the GBC, says: “The Council is a new step within the framework of the new generation of services for smart cities of the future, and the development of innovative solutions. It also promotes community awareness about the importance of innovation to keep up with the demands of the future. The Global Blockchain Council will draw a roadmap for best uses of this emerging technology.”