Dubai: the Blockchainirization of the Emirates

The authors of the project “Middle East Diary” wrote some years ago about the UAE governmental program to attract Emiratis to work instead of foreigners, so-called “Emiratization”. McClatchy journalists mentioned that expats were trolling the program and local people, saying Emiratis “are too spoiled to work”. Now the situation is changing drastically. The new initiative of UAE’s authorities is to upgrade the court of arbitration with the blockchain to decrease the paperwork and the number of people involved in the workflow management. Seems like the idea is even more overarching and has an impact on all the red tape in general than Emiratization was. The court of arbitration was probably chosen just to start with.

Two events in Dubai

ENQ’s CEO Mike Sayfullin and CBDO Jev Vainsteins took part in two events in Dubai last month. The first was World Blockchain Forum: investments and ICOs and the second one was the meetup dedicated to possible social impact of the blockchain. We are of the opinion that the latter was less glitzy but much more practical. But let’s start with the first one.

Held at Jumeirah Mina A’Salam, this forum appealed to be something like a deep dive into the blockchain, focusing on the financial aspect of the technology in general and ICO as the successful funding model in particular. Also the idea was to find what could be “the transformative impact of cryptocurrencies on the global financial landscape”. We are not sure about the global financial system and crypto, but it seems that blockchain as the technology will make a great shift in the local state infrastructure. Ana Alexandre from CoinTelegraph mentioned the UAE Blockchain Strategy 2021. The media center of the Government of Dubai reported on April 11th that “Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum asserted that the UAE has chosen to adopt the development of ‘Future Industry’ in various aspects as means of development on its way of becoming a world leader in adopting technology”, including blockchain.

Right to labor

Sheikh’s idea is to inreach the “quality of life in the UAE” and to enhance “happiness levels for citizens”. That’s why, according to the strategy, 50% of government transactions on the federal level by 2021 should be conducted via blockchain. Now the state spent 11 bln AED every year on managing the documents, tens of millions working hours… The optimization will not only upgrade the system, but also terminate a number of working places. That is not the problem per se, because the state is able to guarantee to Emiratis keeping their high quality of life after losing their jobs because of the “blockchainirization”. The problem is that people could possibly suffer from idleness. By the way, the Middle East is probably the only place on Earth where the secret of delighting the otiosity is a common knowledge. Probably because of the climate. We need to study this specific skill as we all are in the risk envelope due to the future full of robots.

Blockchain and the court of arbitration in Dubai

Later on after the conference, Mark Beer, Chief Executive at DIFC Dispute Resolution Authority in Dubai, during the meetup mentioned above, spoke about the implementation of the blockchain at the court of arbitration. This project is allegedly the part of the strategy. And that was probably the most remarkable presentation of the meetup.

The blockchain of tomorrow

As for Jev and Mike, their speech was dedicated to the future of the blockchain technology. From reading this post you can deduce that the topic is relevant to the local agenda. The speakers said that the future of the blockchain depends on speed, security, scalability and door opening. That’s why ENQ is creating smart contracts on JS to attract more contributors. They also mentioned the opportunity of private chains and the speeding up to 1 mln tps (transactions per second) that could be reached thanks to the mobile mining.

Finally they described the number of use cases for ENQ’s platform, such as a distributed system with smart contracts that uses decentralized storage, database, and smart contracts to provide a single pane of glass of patient information in a very secure and fast way; automation of dealings with local farmers, track source, location, quality, speeding up payments, deep transparency, and automation of the verification process; and GDPR compliance and data monetization.

The community found a lot of use in the presentation, that’s why our team was granted with the certificate of honour by Clinton O’Leary, Director at TokenAsia and community builder at BlockSocial. Congrats to all the ENQ team!

We are going on with our road show. If you want to talk to us in person please check our line of march, choose the nearest point, join our Telegram and send the private message to the admin to reserve particular date and time for the meeting. See you!

Links to check:

  1. Official web page of the World Blockchain Forum: investments and ICOs
  2. Official web page of the Meetup “Blockchain for Social Impact”
  3. Enecuum’s official web page
  4. Mohammed bin Rashid launches ‘UAE Blockchain Strategy’ (by Media Office of Government of Dubai)
  5. UAE Government Launches Blockchain Strategy 2021 (by Ana Alexandre)
  6. Dubai launches Tourism 2.0 blockchain marketplace (by Arabian Business’ stuff writer)

Ilia Stechkin, Jev Vainsteins




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