Dubai has grown from a tiny fishing village to a major trading hub by attracting businesses with near-zero taxes, advanced transportation infrastructure and a secure environment in a tumultuous region.
Now it’s planning another transformation to bolster its claim as the leading center for business in the Middle East—to an economy that relies heavily on blockchain technology.
Blockchain is perhaps best know as the technology behind the digital currency bitcoin, but it can serve many purposes. It uses a digital ledger to efficiently share and track information related to contracts and transactions, the records of which are permanent, verifiable and secure.
The goal of Dubai’s government is to conduct a majority of the emirate’s business using blockchain, which it expects will make government services more efficient and help promote enterprise in Dubai as it will become easier to do business there.
Full story at http://bit.ly/2uYfIm0
Source: http://www.wsj.com.convey.pro
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