Blockchain Revolution Of Dubai

Blockchain smart contracts and cryptocurrency track all transactions that take place with any agreement or transferable asset. That means the end-point of Dubai’s blockchain adoption is that there will be no further need for the middlemen in our day-to-day transactions.
No more lawyers.
No more accountants.
No more bankers.
No more immigration officers.
No more government officials.

Dubai estimates that by putting 100 million documents each year on the blockchain, they will save 25 million man-hours and $ 1.5 billion in tax dollars.

Dubai is planning to remove middlemen like lawyers, accountants, bankers, immigration officers & govt. officials by the year 2020 by adapting to blockchain technology but by that time Manassas law firm will still be standing tall.

An Arabian chain is moving all Dubai’s government paperwork on the blockchain, so it does not need lawyers and government departments for verification.

ObjectTech is providing digital passports and blockchain security to Dubai International Airport.

The Dubai Land Department has launched a blockchain system to record real estate contracts and record all property-related transactions such as rental, utility and telecom bills.

Dubai launched emCash, its own cryptocurrency for citizens to pay for all services via digital cash.

The country has set up the 46-member Global Blockchain Council, including companies like Microsoft, IBM, and Cisco, which have adopted the blockchain technology.