Introduction

• Vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum to make

Dubai the first city powered by blockchain by 2020
• 3 Strategic Pillars: Government Efficiency, Industry Creation &
International Leadership
• Dubai will save 5.5 billion AED in document processing alone-
equivalent to Burj Khalifa’s worth of value every year
 Process
Blocks combine to Access this
Information stored as form a chain of information from one
block information highly secure digital
(Blockchain) network

Why Blockchain? Dubai Blockchain Strategy 2020

• Trust • World capital of blockchain

• Transparency • More than 100 blockchain companies
• Traceability • First government in the world to
conduct all applicable transactions on
blockchain
Challenges

• Lack of knowledge – blockchain is a relatively new concept. Its

technicality and interface is still unheard of among wider population.
• Lack of widespread trust – volatility has led to friction and lack of
trust.
• Threat of data leaks - data being online will always face a threat of
data leaks and data theft.
Recommendations
• Increasing simplicity and enhancing the user experience. Irreversible
nature of a transaction, unlike traditional transactions
• Reputation - In a world full of people who rely on reputation, trust in
blockchain needs to be nurtured
• Regulatory and legal – Institutionalization and standardization, setting
up exchanges for cryptocurrencies